Kenanga maintains 'market perform' on KPJ

KUALA LUMPUR: Kenanga Research expects a slow earnings recovery for KPJ Healthcare Bhd as a lower-than-expected number of patients and higher-than-expected tax rate resulted in an earnings disappointment in FY21.

The research firm said it downgraded its FY22 earnings forecast by 29% due to a lower number of patients and a higher tax rate of 37%.