Perdana Petroleum: Maintain Hold - A Return To The Black

• Positive results; maintain HOLD. Perdana's 2Q12 net profit of
• MYR5m was a small positive.
• However as 48% of earnings are dependent on recently sold associate Petra Energy (PE), we are concerned about earnings sustainability. Prospects are limited but its trough valuations and a potential corporate exercise warrant a HOLD.

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Source: Maybank Research - 29 August 2012