Company Name: MALAYSIA AIRPORT HOLDINGS BHD
| Research House: HLG | Price Call: HOLD | Target Price: 6.08 |
MAHB (Hold)
Airport Hikes Facing Stumbling Block
'''' MAHB's previously approved new airport charges was put on hold indefinitely pending further review by Transport Ministry.
'''' Currently MAHB is in the midst of negotiation with the government for potential compensation under Marginal Cost Support (MARCS).
'''' However, we are uncertain on the timing and the amount of restitution to be agreed between MAHB and the government. There is high chance of potential delay on the restitution, largely due to political risks.
'''' Maintain Hold at lower TP of RM6.08. (Previously RM6.70)
''
KLCI:
Range bound within the mid and lower Bollinger band
'''' Against external uncertainty, Bursa Malaysia will probably carry on bouncing back and forth amid light trading activity. Upside catalysts include combinations of pump-priming and accelerating ETP momentum in 4Q11 and an election Budget 2012.''
''
STOCK TO WATCH: MRCB
Potential rebound targets at RM2.10-2.23
'''' MRCB's medium to long term uptrend remains intact as prices continue to stay above the weekly 100-d SMA (RM1.84) and daily lower Bollinger band (RM1.87) supports. Any price weakness is a good opportunity to accumulate as MRCB will be a beneficiary of various public projects to pump prime the economy. ''
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