AmInvestment maintains Buy on MRCB, ups fair value to RM1.89

Stronger: MIDF research says it is positive on MRCB

KUALA LUMPUR: AmInvesment Bank Research has maintained its “buy” call on Malaysian Resources Corp Bhd (MRCB) but raised its fair value to RM1.89.

“We make no changes to our FY17-19F forecasts, but we increase our fair value to RM1.89 as we lower our discount to its RNAV to 10% (from 20%) as we believe the stock is ripe for further re-rating due to expected positive news flows in the upcoming months. Maintain buy,” AmInvestment said.