Advertisements

Brace for Cukai Makmur’s impact

■ 9MFY21 core net profit came in above expectations on higher-than-expected margins from the regasification and utilities divisions in 3Q21.
■ Downgrade to Hold from Add, with a lower TP of RM16.80 on earnings risk from Cukai Makmur and IBR RP2 in FY22-23F.

Advertisements