KUALA LUMPUR: DRB-Hicom subsidiary KL Airport Services Sdn Bhd’s purchase of air freight operator Gading Sari for RM72mil cash is steep, says AmResearch.
“DRB-Hicom now has the opportunity to scale up its logistics operations along with Pos Malaysia. We maintain Buy, with an unchanged fair value of RM3.60 a share – a 15% discount to our sum-of-parts value of RM4.25 a share,” it said.
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