External broker reports(aggregated public sources), Kenanga Investment Bank Bhd

Kenanga Investment Bank Bhd

Established for more than 45 years, Kenanga Investment Bank Berhad is a financial group in Malaysia with extensive experience in equity broking, investment banking, treasury, Islamic banking, listed derivatives, investment management, wealth management, structured lending and trade financing. 

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External broker reports(aggregated public sources)

Established for more than 45 years, Kenanga Investment Bank Berhad is a financial group in Malaysia with extensive experience in equity broking, investment banking, treasury, Islamic banking, listed derivatives, investment management, wealth management, structured lending and trade financing. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Petron Malaysia Refining & Marketing / Equity Bottom-Up

Petron Malaysia Refining & Marketing (PETRONM MK)

<ul><li>PETRONM’s 1HFY23 results met our expectations. Its 1HFY23 net profit plunged 49% YoY as a higher sales volume was more than offset by a contraction in crack spreads.</li><li>Its prospects are unexciting with tepid volume growth and subdued outlook for regional crack spreads.</li><li>We maintain our forecasts, TP of RM4.65 and MARKET PERFORM call. Within expectation. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

PETRONM’s 1HFY23 results met our expectations. Its 1HFY23 net profit plunged 49% YoY as a higher sales volume was more than offset by a contraction in crack spreads.Its prospects are unexciting with tepid volume growth and subdued outlook for regional crack spreads.We maintain our forecasts, TP of RM4.65 and MARKET PERFORM call. Within expectation. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Results Note - Petron Malaysia Refining - 25 Aug 2023