“We view the acquisition of Alam Flora positively given the additional earnings accretion and synergistic opportunities to develop waste-to-energy (WTE) projects," CGS-CIMB Equities Research said about Malakoff.
KUALA LUMPUR: Independent power producer Malakoff Corporation Bhd
has been upgraded from Hold to Add by CGS-CIMB Equities Research on expectations its earnings profile could improve after the acquisition of Alam Flora.
The research house said on Tuesday it met Malakoff’s management recently and gathered that the group’s FY20-21F earnings profile could improve due to acquisition of Alam Flora.
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