PETALING JAYA: CIMB Securities is downgrading Fraser & Neave Holdings Bhd
(F&N) to a “hold” from a “buy” as the company’s current valuations have largely priced in the defensive nature of its business, while earnings remain muted.
F&N’s core net profit for the third quarter ended June 30, 2025 (3Q25) stood at RM98.3mil, a 24.5% year-on-year (y-o-y) drop, after adjusting for RM13.5mil in one-off items (mainly comprising foreign exchange losses of RM9.8mil and receivables impairment of RM2.8mil).
