Friday, November 26, 2010

OSK Research maintains Buy on Puncak, TP RM3.85

KUALA LUMPUR: OSK Research said Puncak Niaga's earnings came within its and consensus expectations.

The research house said on Friday, Nov 26 that in view of low water consumption growth c.3% in the Selangor state, revenue for Puncak came flat on a quarter-on-quarter basis.

'We note that as part of its 2010 YTD revenues, Puncak booked in RM309.6 million being a sum payable by the Selangor State Government in respect to a delay in the water tariff rate hike by 37% initially scheduled to be implemented in January 2009,' it said.

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