KUALA LUMPUR (Aug 30): Seen facing sustained competition amid higher cost base, Sheikh Abdullah, analyst at Hong Leong Investment Bank, writes in a report.
* Avg selling price to remain relatively low due to global condom mkt consolidation
** Better volumes vs FY17 to be partially offset by higher costs
* FY2018 and FY2019 earnings ests cut by 29% and 30%
* PT cut to 1.37 ringgit from 1.97 ringgit, hold rating maintained
* Stock falls as much as 6.2% to lowest level since Dec. 2014
* NOTE: 4Q net income 2.9m ringgit vs 12.1m ringgit y/y