KUALA LUMPUR (April 9): CIMB Research has maintained its Overweight recommendation on Malaysia’s power sector and said the sector could be on the cusp of a transformation
In a note April 9, the research house said that overall, investors were optimistic about Tenaga’s prospects and believe the company will benefit from sector reforms.
“However, some funds are taking a more cautious approach due to the proximity of the 13th general elections.
“We believe Malaysia’s power sector could be on the cusp of a transformation. Post elections, sentiment is likely to improve and reform initiatives gain traction with the uncertainty removed. Maintain Overweight. Petronas Gas is our top pick,” it said. - Reuters
In a note April 9, the research house said that overall, investors were optimistic about Tenaga’s prospects and believe the company will benefit from sector reforms.
“However, some funds are taking a more cautious approach due to the proximity of the 13th general elections.
“We believe Malaysia’s power sector could be on the cusp of a transformation. Post elections, sentiment is likely to improve and reform initiatives gain traction with the uncertainty removed. Maintain Overweight. Petronas Gas is our top pick,” it said. - Reuters
