Pharmaniaga Posts PAT of RM46 million for FY2016

 |  Tuesday, 21 February 2017 11:26  |  Published in MARKETS

KUALA LUMPUR, Feb 21 – Pharmaniaga Bhd recorded a profit after tax of RM46 million for its financial year ended 31 December 2016. Profit before tax (PBT) stood at RM72 million while revenue came in at RM2.2 billion. 

The Manufacturing Division remained the core contributor for the year, posting a PBT of RM87 million. However, this was lower than the previous year, primarily due to lower offtake for in-house products under the concession business.

AM Bank Research retains Buy for Axiata

 |  Monday, 20 February 2017 10:36  |  Published in MARKETS

Kuala Lumpur, Feb 20 - AMBank Research is maintaining its BUY call on Axiata Group (Axiata) with a lower sum-of-parts (SOP)-based fair value of RM6.00/share (from an earlier RM6.15/share), which implies a FY16F EV/EBITDA of 7x – half of Singapore Telecommunications Ltd’s present 14x. 

“We have only fine-tuned FY16F net profit which has already incorporated weaker 4QFY16 earnings assumptions impacted by Celcom’s likely weak earnings and 19.8%-owned Idea Cellular’s loss.”

MIDF Research: KLCI Inching Up

 |  Friday, 17 February 2017 11:35  |  Published in MARKETS

Kuala Lumpur, Feb 17 - MIDF Research reiterates its FBM KLCI year-end 2017 target at 1,830 points, significantly higher at 1,707.59 points as of Thursday Feb 16.

In a statement, the research house restates its assertion that empirical observations between earnings and price are conclusive with regard to the nature of their secular direct relationship.

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