Stock Name: KNM
Company Name: KNM GROUP BHD
Research House: AMMB
AmResearch has maintained its "sell" recommendation on KNM Group with an unchanged fair value of RM0.42 per share.
The research firm notes that "KNM trades at a premium FY10F PE of 15x compared to its peers 10x".
"We think that this is unjustified given that a major portion of the group's FY10F earnings stem from a Borsig deferred tax writeback," says AmResearch.
Company Name: KNM GROUP BHD
Research House: AMMB
AmResearch has maintained its "sell" recommendation on KNM Group with an unchanged fair value of RM0.42 per share.
The research firm notes that "KNM trades at a premium FY10F PE of 15x compared to its peers 10x".
"We think that this is unjustified given that a major portion of the group's FY10F earnings stem from a Borsig deferred tax writeback," says AmResearch.
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