CIMB Equities Research said Tenaga Nasional’s share price has underperformed the FBM KLCI and its local peers by 9% since May this year on news first surfaced about the power giant’s takeover of Project 3B from 1Malaysia Development Bhd (1MDB).
“It appears that the underperformance is due to concerns of it overpaying for 1MDB’s assets and we believe the selldown is excessive,” it said on Wednesday.
CIMB Research said the decline in Tenaga’s share price suggests that the market has priced in Tenaga overpaying by about RM7.5bil.
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“It appears that the underperformance is due to concerns of it overpaying for 1MDB’s assets and we believe the selldown is excessive,” it said on Wednesday.
CIMB Research said the decline in Tenaga’s share price suggests that the market has priced in Tenaga overpaying by about RM7.5bil.
Click Here For Free Signals OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance About KLSE online Feel Free To Mail Us at : info@epicresearch.my
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