May 31, 2011

MMCCORP - MMC downgraded to 'neutral'

Stock Name: MMCCORP
Company Name: MMC CORPORATION BHD
Research House: OSK

MMC Corp, a Malaysian ports, power and construction group, was downgraded to “neutral” from “trading buy” at OSK Research Sdn Bhd, cutting its fair value to RM3.08 from RM3.62.

Gas Malaysia Sdn. a 41.8 per cent-owned affiliate, will see narrower margins after the government yesterday announced changes to state subsidies and fuel prices, analyst Chris Eng said in a report today.

This should impact Gas Malaysia’s potential valuation if it proceeds with its initial public offering, he said. -- Bloomberg

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