KUALA LUMPUR: RHB Research has maintained its Buy call on Protasco
with a fair value of RM1.80 based on sum-of-parts valuation, valuing its IUKL land at market price, road maintenance concessions by DCF, and construction and other businesses at 10 times FY14 earnings.
“We maintain our Buy recommendation, forecasts and RM1.80 FV for Protasco, following the release of its 9M13 results which met our forecast but beat market expectations.
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