Maybank IB maintains 'buy' rating on Malakoff
Published on: Friday, February 23, 2018
Kuala Lumpur: Maybank Investment Bank Bhd (Maybank IB) has maintained a "buy" rating on Malakoff Corporation Bhd with a target price of RM1.15, as the stock offers an attractive dividend yield in excess of six per cent.In a note Thursday, the research firm said even though the financial year 2017 net profit was below expectation, owing to slight capacity payment shortfall at Tanjung Bin Energy Sdn Bhd (TBE) in the fourth quarter of 2017, the dividend payout surprised positively."Management's commitment towards maintaining 100 per cent dividend payout ratio going forward would see Malakoff become an attractive yield stock," it said.
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Malakoff's net profit for the financial year ended Dec 31, 2017 slipped 7.2 per cent to RM376.94 million, while revenue improved 16.9 per cent to RM7.13 billion.Stay up-to-date by following Daily Express’s Telegram channel.
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