KUALA LUMPUR (Jan 21): Hong Leong IB Research (HLIB) has maintained its “Overweight” rating on the aviation sector with AirAsia Bhd and Malaysia Airports Holdings Bhd (MAHB) as its top picks after the government announced measures to boost tourist arrivals.
In a note Wednesday, HLIB said the measures included:
“Despite the lower yields, AirAsia is expected to report stronger earnings in 2015 from the slump in jet fuel price.
“Maintained Overweight on Aviation sector – Top Pick – AirAsia (TP: RM3.30) and MAHB (TP: RM8.90),” it said.