LHI’s FY19 revenue increased 5% YoY but EBITDA was flattish at RM650.5mil. EBITDA margin slipped 0.6ppts to 10.7% mainly due to depressed selling prices of several products in Indonesia, Vietnam, Singapore and Malaysia.
KUALA LUMPUR: AmInvestment Research is maintaining its Buy recommendation on Leong Hup International (LHI) with a lower fair value of RM1.02 a share versus RM1.04 previously.
It said on Wednesday its valuation was pegged to a P/E of 18 times FY20F EPS.
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