Stock Name: MMCCORP
Company Name: MMC CORPORATION BHD
Research House: OSK
KUALA LUMPUR: OSK Research said MMC Corp's results were again below expectations although in making its Trading Buy call it had anticipated the poor results but strong news flow.
The research house said on Wednesday, Feb 23 this time, provisions at Kapar and exceptionally high Minority Interest (MI) charges dragged its 4Q into core net losses, which were offset by an exceptional RM134 million gain from the sale of Sime Darby shares.
'As MMC's operations excluding associates and exceptional items continued to improve, we are actually tweaking up our profit forecast going forward and our Sum of Parts fair value slightly.
'MMC remains a Trading Buy (at RM2.81, revised TP RM3.62 from previous TP RM3.52) with potential news in the form of a new 1000MW power plant extension, Gas Malaysia's listing and an MRT contract award,' it said.
Company Name: MMC CORPORATION BHD
Research House: OSK
KUALA LUMPUR: OSK Research said MMC Corp's results were again below expectations although in making its Trading Buy call it had anticipated the poor results but strong news flow.
The research house said on Wednesday, Feb 23 this time, provisions at Kapar and exceptionally high Minority Interest (MI) charges dragged its 4Q into core net losses, which were offset by an exceptional RM134 million gain from the sale of Sime Darby shares.
'As MMC's operations excluding associates and exceptional items continued to improve, we are actually tweaking up our profit forecast going forward and our Sum of Parts fair value slightly.
'MMC remains a Trading Buy (at RM2.81, revised TP RM3.62 from previous TP RM3.52) with potential news in the form of a new 1000MW power plant extension, Gas Malaysia's listing and an MRT contract award,' it said.
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