Bursa is set to announce its 4Q19 financial results on Jan 30,2020. Affin Hwang Capital Research’s preliminary estimate of its 4Q19 net profit works out to RM47m (-9.4% yoy; flat qoq).
KUALA LUMPUR: Affin Hwang Capital Research is keeping its Sell call on Bursa Malaysia with a 12-month target price of RM5.15 (based on a 2020E P/E multiple target of 23 times).
The research house said on Friday this was due to its expectations of a lacklustre market outlook in 2020E-21E, with a high risk of further foreign fund outflows and a weak Ringgit forecast of RM4.20.
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