Monday, 9 April 2012

CIMB Research maintains Overweight on power sector

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

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