KUALA LUMPUR: Affin Hwang Capital research maintained its buy call on Elk-Desa Resources Bhd
as its latest earnings came within expectations but cut its earnings forecast for FY20-22.
"Given our expectation of a moderation in the macro environment in 1H20 following the Covid-19 outbreak, we are of the view that there will be weaker credit growth (FY20E: +21% yoy; FY21E: 15% yoy) and also higher risk of NPLs," said the research house in a note.
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