HLIB Research has retained a target of 1,690 points based on a conservative 14.5 times price-to-earnings ratio for the local bourse’s benchmark KLCI.
PETALING JAYA: The ringgit’s rally in recent weeks will benefit businesses that import a lot and have large US dollar debt exposure, while those with large US dollar sales exposure are likely to face profit headwinds.
Hong Leong Investment Bank (HLIB) Research said potential stock winners from the ringgit’s 6.5% rally year-to-date (y-t-d) include Tan Chong Motor Holdings Bhd
, Sime Darby Bhd, Capital A Bhd, Carlsberg Malaysia Bhd, Heineken Malaysia Bhd, QL Resources Bhd, Nestle (M) Bhd and Astro Malaysia Holdings Bhd.
