KUALA LUMPUR (Dec 22): OSK Investment Research has maintained its Neutral call on Lion Industries Corp Bhd with a fair value of RM1.50 and said it welcomed that the group was actively seeking mining assets, although the details were scarce.
The research house however added that the steel market was still fraught with challenges considering the slow execution of domestic projects and the impending consolidation of China’s steel industry, which may hurt global sentiment.
“Talks with potential investors on the sale of its steel units are still ongoing but we see an indefinite delay in the outcome.
“Thus, we keep our NEUTRAL call with a Fair Value of RM1.50 in the absence of immediate catalysts,” it said on Thursday.
The research house however added that the steel market was still fraught with challenges considering the slow execution of domestic projects and the impending consolidation of China’s steel industry, which may hurt global sentiment.
“Talks with potential investors on the sale of its steel units are still ongoing but we see an indefinite delay in the outcome.
“Thus, we keep our NEUTRAL call with a Fair Value of RM1.50 in the absence of immediate catalysts,” it said on Thursday.
