“We are positive on Gas Malaysia given its stable earnings profile and attractive dividend yield of c.5% for FY19-21F. We see limited earnings impact on the group from potential reforms in the power sector," CGS-CIMB Research said.
KUALA LUMPUR: CGS-CIMB Research expects Gas Malaysia’s earnings to remain stable as the additional shipper margin could offset the lower regulated earnings in the regulatory period 1 (RP1,2020 to 2022).
The research house had on Wednesday maintained its Add call with an unchanged target price of RM3.11, based on 20.5 times CY20F P/E (one-year mean P/E).
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