Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Smartkarma

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Malakoff Corporation Bhd plans to raise upto US$860m through a mix of primary and secondary offering.The deal obtains a marginal positive score on our framework. We would be inclined to take the deal but we expect upside to be limited, given that the shares are being offered at a slight EV/EBITDA premium vs. locally listed peers. In addition growth avenues for the stock appear limited and demand for the stock seems to be largely locally driven.On the other hand, the company has signed up long term PPAs with full fuel costs pass through, thus, providing stable returns.&nbsp;

Malakoff Corporation Bhd plans to raise upto US$860m through a mix of primary and secondary offering.The deal obtains a marginal positive score on our framework. We would be inclined to take the deal but we expect upside to be limited, given that the shares are being offered at a slight EV/EBITDA premium vs. locally listed peers. In addition growth avenues for the stock appear limited and demand for the stock seems to be largely locally driven.On the other hand, the company has signed up long term PPAs with full fuel costs pass through, thus, providing stable returns.&nbsp;

Nothing much to write home about - Fairly priced but lacks growth prospects

Malaysia

Malakoff Corporation Berhad is an independent water and power producing company (IWPP). The Company designs, engineering, procurement, construction, installation, commissioning, testing, operation and maintenance of coal-fired electricity generating facility, and provision of engineering and project management, as well as repair, overhaul, and other services to power plants.

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Malakoff Corp (MLK MK)

Nothing much to write home about - Fairly priced but lacks growth prospects

Malakoff Corporation Bhd plans to raise upto US$860m through a mix of primary and secondary offering.The deal obtains a marginal positive score on...

Sumeet Singh

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