Thursday 28 Mar 2024
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KUALA LUMPUR (May 6): Hong Leong IB Research said Tiong Nam Logistics Holdings Bhd is poised for another downtrend line breakout and that the company’s logistics and property development currently contributing almost equally to EBITDA.

In a trading idea note today, the research house said rerating catalyst from warehouse REITs IPO to unlock values as well as part of the alternatives to bring down the gearing ratio.

“We see share prices to break immediate resistance of RM1.29 to reach our short to medium term upside targets of RM1.35-1.41 levels.

“Long term target is RM1.50. Cut loss at RM1.16,” it said.

 

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