KUALA LUMPUR: OSK Research said MMC Corp Bhd mentioned that two of its subsidiaries and its unit are up for listing namely Gas Malaysia, Malakoff and Johor Port although the company has yet to submit any applications to the Securities Commission.
It said on Wednesday, May 18 that although their listings are not a surprise, MMC's guidance for Gas Malaysia and Johor Port's market caps are almost twice what it currently valued these subsidiaries at.
'Attributing these market cap guidance values could potentially raise our SOP FV to RM4.38. For now, pending more concrete listing details, we keep our FV at RM3.62 and MMC remains a Trading Buy,' it said.
It said on Wednesday, May 18 that although their listings are not a surprise, MMC's guidance for Gas Malaysia and Johor Port's market caps are almost twice what it currently valued these subsidiaries at.
'Attributing these market cap guidance values could potentially raise our SOP FV to RM4.38. For now, pending more concrete listing details, we keep our FV at RM3.62 and MMC remains a Trading Buy,' it said.
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