KUALA LUMPUR: Shares of FABER GROUP BHD [] climbed in early trade on Tuesday, Nov 2 despite the mixed market, after OSK Research maintained its BUY recommendation on Faber at an unchanged TP of RM4.
At 9.44am, Faber was up 10 sen to RM2.97 with 122,600 shares done.
The FBM KLCI was down 1.22 points to 1,508.44. Turnover was 199.2 million shares done valued at RM276 million. There were 167 gainers, 159 losers and 253 stocks unchanged.
OSK Research said it is not entirely concerned about the expiry of the original deadline for renewal of Faber Group Bhd's Hospital Support Services (HSS) concession.
In its research note issued on Tuesday, Nov 2, it said that Pharmaniga Bhd experienced the same thing with regard to the renewal of its pharmaceutical supply concession, which was eventually renewed.
'While there is speculation that the Government might not renew Faber's concession for East Malaysia and politics may possibly take priority, we strongly believe that the renewal should be based on track record and performance if the Government is truly committed to its transformation plan,' it said.
At 9.44am, Faber was up 10 sen to RM2.97 with 122,600 shares done.
The FBM KLCI was down 1.22 points to 1,508.44. Turnover was 199.2 million shares done valued at RM276 million. There were 167 gainers, 159 losers and 253 stocks unchanged.
OSK Research said it is not entirely concerned about the expiry of the original deadline for renewal of Faber Group Bhd's Hospital Support Services (HSS) concession.
In its research note issued on Tuesday, Nov 2, it said that Pharmaniga Bhd experienced the same thing with regard to the renewal of its pharmaceutical supply concession, which was eventually renewed.
'While there is speculation that the Government might not renew Faber's concession for East Malaysia and politics may possibly take priority, we strongly believe that the renewal should be based on track record and performance if the Government is truly committed to its transformation plan,' it said.
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