PETALING JAYA: Affin Hwang Capital Research has maintained its “buy” call on Elk-Desa Resources Bhd
on its latest earnings coming in within expectations, but cut its earnings forecast for financial year 2020 (FY20)-FY22.
“Given our expectations of a moderation in the macro environment in first-half FY20 following the Covid-19 outbreak, we are of the view that there will be weaker credit growth and also higher risk of non-performing loans,” said the research house in a note.
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