Friday 29 Mar 2024
By
main news image

KUALA LUMPUR (Nov 12): MIDF Research has maintained its Neutral rating on Puncak Niaga Holdings Bhd at RM3.45 with a lower target price of RM3.76 (from RM4.44) after a conditional sales & purchase agreement for disposal of water concessions was produced.

In a note Wednesday, the research said the disposal considerations for PNSB and SYABAS totalled RM1.5553 billion.

It said the offer for PNSB was at a discount of between 14.1% to 24.8% and the offer for SYABAS was at a discount of between 65.2% to 69.5%, of the respective indicative valuation prices.

The research house said Puncak Niaga would consider proposing special dividends of RM534 million or RM1.29 per share.

“Maintain Neutral stance with revised target price of RM3.76 per share,” it said.

 

      Print
      Text Size
      Share