KUALA LUMPUR (July 13): AffinHwang Capital Research has maintained its “Hold” rating on Bonia Corporation Bhd at 95 sen with a lower target price of 93 sen (from RM1.03) and said following its recent conversation with management, it expects Bonia to post weaker-than-expected 4QFY15 results underpinned by weaker consumer sentiment and higher operating costs.

In a note today, the research house said it cut its 2015-17 EPS forecasts to reflect a demand slowdown in the group’s domestic market.

“While the group’s performance in the regional markets will likely continue to be positive, we believe that this will not be sufficient to mitigate the weaker domestic demand.

“Maintain Hold with a lowered target price of 93 sen,” it said.