KUALA LUMPUR: CIMB Equities Research is Negative on DRB-Hicom’s purchase of Konsortium Logistik Bhd (KLB), valuing the company at RM391mil and potentially at 39 times 2013 price-to-earnings (P/E).
It said on Tuesday the deal is a negative surprise because DRB-Hicom is in the midst of a non-core divestment programme and this seems to be an unnecessary diversion.
Already a subscriber? Log in
The Star Festive Promo: Get 35% OFF Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
