ANALYSTS expect a re-rating of Puncak Niaga Holdings Bhd
shares as the company continues to disclose more details of the water privatisation contract secured by its 70%-owned unit, Syarikat Bekalan Air Selangor Sdn Bhd (Syabas).
“Puncak's share price has under-performed the market significantly in recent months due to uncertainty surrounding the privatisation. We see an imminent re-rating,” ECM Libra Securities said in its notes after an analysts' briefing by Puncak.
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