CIMB Research maintains Overweight on Utilities

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KUALA LUMPUR (Sept 17): CIMB Research has maintained its Overweight rating on the Malaysian utilities sector and said it recently met more than 50 investors from over 27 investment firms to discuss the outlook on the overall Malaysian power and utilities sector.

In a note Thursday, the research house said investors were interested to learn about new stock ideas to replace Tenaga.

It said the investors in Singapore and Hong Kong were interested with new stock ideas for both small and big caps, while the investors in Malaysia were keen to hear views on the big caps, mainly Tenaga, YTL Power and Petronas Gas.

“Petronas Gas remains our top pick for the big cap, while Cypark is our top small cap pick,” it said.