Thursday, November 12, 2009

Mudajaya - A Bumper Quarter

CIMB maintain BUY call with a higher target price of RM6.90 (RM6.65 previously), which remains pegged to a 30% discount to RNAV. Potential share price triggers include:
(i) this good set of results and possibly more to come,
(ii) more contract awards, and
(iii) financial closure for the balance of Phase 2 of the IPP in India.

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