Pecca Group Bhd’s entry into the aviation industry will be a potential game changer for the company, said Maybank Investment Bank (IB) Research.
The research house reiterated its Buy call on the car leather upholstery maker on Friday, with a higher target price of RM2.18.
“Pecca’s entry into the aviation industry, where barriers to entry are high, is a testament of its capabilities,” it said.
It said the group’s securing of the aircraft part refurbishment license from the Department of Civil Aviation (DCA) in March 2016, followed by the leather upholstery scope secured by Pecca’s 60%-owned Pecca Leather Aviation Services (PAviation) will enhance its ability and opportunities in AirAsia’s aircraft part localisation initiative for its existing and new aircrafts.
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