KUALA LUMPUR: Affin Research has maintained its Trading Buy on Benalec
with a target price of RM1.98 based on a positive outcome in the signing of a definitive Sale and Purchase Agreement with 1MY Strategic Oil Terminal, and commencement of land reclamation works for the Tanjung Piai and Pengerang concessions in Johor.
In a note on Friday, Affin said based on the estimated reclamation cost of RM157.2mil, the proposed disposal is expected to result in an after-tax gain of RM58.5mil, which is equivalent to RM0.07 per share and which will be booked in FY15 and 9MFY16.
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