Tuesday, January 4, 2011

MAHB sees 10.22m shares crossed at RM6 apiece

KUALA LUMPUR: A total of 10.22 million shares of MALAYSIA AIRPORT HOLDINGS BHD [] (MAHB) crossed in the morning session on Tuesday, Jan 4 at an average price of RM6 apiece.

The 10.22 million shares represented just 0.09% of its issued shares of 1.1 billion shares.

At 2.31pm, MAHB was down 20 sen to RM6.

OSK Research, had in a recent research note, said it was maintaining its'' BUY call and target price of RM8.47 on the stock based on discounted cashflow.

The research house said its newly derived TP implied a price-to-earnings (PER) of 23.7 times, which was slightly above the average peer valuation of 22 times.

'We think MAHB deserves a premium PER given the potential for reaping non-aeronautical revenue once the new KLIA2 is operational, on top of its forays overseas,' it said.

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