Stock Name: MPHB
Company Name: MULTI-PURPOSE HOLDINGS BHD
Kenanga Research started Malaysian financial services to gaming conglomerate Multi-Purpose Holdings Bhd with an "outperform" call and target price of RM3.72 per share.
"We believe it is a good time to buy MPHB now at its undemanding valuation before it gets rerated by the after the completion of the rationalisation exercise," the broker said in a research note on Tuesday.
Kenanga said MPHB is undergoing an asset rationalisation exercise to dispose its non-gaming assets and become a pure new fund offer (NFO) play, leading to a higher stock valution.
"With the disposal, it will become a pure NFO play, which will force the market to push its valuation up," the broker said. -- Reuters
Company Name: MULTI-PURPOSE HOLDINGS BHD
| Research House: KENANGA | Price Call: BUY | Target Price: 3.72 |
Kenanga Research started Malaysian financial services to gaming conglomerate Multi-Purpose Holdings Bhd with an "outperform" call and target price of RM3.72 per share.
"We believe it is a good time to buy MPHB now at its undemanding valuation before it gets rerated by the after the completion of the rationalisation exercise," the broker said in a research note on Tuesday.
Kenanga said MPHB is undergoing an asset rationalisation exercise to dispose its non-gaming assets and become a pure new fund offer (NFO) play, leading to a higher stock valution.
"With the disposal, it will become a pure NFO play, which will force the market to push its valuation up," the broker said. -- Reuters
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