Maybank IB downgrades MISC to 'hold' following unfavourable arbitration decision

KUALA LUMPUR: MISC Bhd could be taking a hit to its cash balance as the latest arbitration decision on its dispute over FPS Gumusut-Kakap did not lean in its favour.

Maybank Investment Bank research downgraded MISC to a hold recommendation from buy as it factored in a payment of US$325mil and a lower lease rate for the vessel.