Stock Name: PETGAS
Company Name: PETRONAS GAS BHD
RHB Research raised Petronas Gas Bhd's fair value to RM18.95 per share from RM18.33 on a better outlook with the latter's new liquefied natural gas (LNG) regasification plant in Malacca state due to come on stream in August-September.
"The new LNG plant will provide Petronas Gas with a new revenue stream, such as regasification fees, while also providing increased volumes for its gas transmission business," the research house said in a note on Friday.
Maintaining a "market perform" on the counter, RHB said it believed Petronas Gas' prospects going forward remain stable, underpinned by recurring income from its processing and transmission businesses, while the addition of new assets would provide incremental recurring earnings for the company.
Petronas Gas ended the morning session 0.33 percent lower at RM17.94 per share, compared to the Malaysia's benchmark stock index's 0.04 percent rise. -- Reuters
Company Name: PETRONAS GAS BHD
| Research House: RHB | Price Call: BUY | Target Price: 18.95 |
RHB Research raised Petronas Gas Bhd's fair value to RM18.95 per share from RM18.33 on a better outlook with the latter's new liquefied natural gas (LNG) regasification plant in Malacca state due to come on stream in August-September.
"The new LNG plant will provide Petronas Gas with a new revenue stream, such as regasification fees, while also providing increased volumes for its gas transmission business," the research house said in a note on Friday.
Maintaining a "market perform" on the counter, RHB said it believed Petronas Gas' prospects going forward remain stable, underpinned by recurring income from its processing and transmission businesses, while the addition of new assets would provide incremental recurring earnings for the company.
Petronas Gas ended the morning session 0.33 percent lower at RM17.94 per share, compared to the Malaysia's benchmark stock index's 0.04 percent rise. -- Reuters
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