KUALA LUMPUR: RHB Research has maintained its Buy on Protasco
with a raised fair value of RM2.43 from RM2.18, adding that the group is a good small-cap proxy to public infrastructure spending, particularly road maintenance and public housing.
In a note on Wednesday, RHB said it also likes the company’s RM10bil De Centrum integrated property project, which involves the redevelopment of the 100-acre Infrastructure University Kuala Lumpur (IUKL) land in Bangi that it acquired at a very low price.
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