[%Hswo%] 
Research by RHB
Neural – TP of MYR 0.93

“Finally Monetising ZIC; D/G To NEUTRAL” 

Downgrade to NEUTRAL from Buy, with new MYR0.93 TP from MYR0.82, 5% upside. We are positive on LBS Bina’s proposed disposal of its entire equity interest in Lamdeal Investments Ltd (LIL) for MYR124.7m, which owns a 60% stake in Zhuhai International Circuit (ZIC). That said, we downgrade our call as we think the positives are largely priced in and upside is limited following the recent strong share price performance.

Analyst(s):
Wan Muhammad Ammar Affan
[%Wusl%]
Loong Kok Wen CFA
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$KLSE-LBS 
Research by RHB
Neural – TP of MYR 0.93

“Finally Monetising ZIC; D/G To NEUTRAL” 

Downgrade to NEUTRAL from Buy, with new MYR0.93 TP from MYR0.82, 5% upside. We are positive on LBS Bina’s proposed disposal of its entire equity interest in Lamdeal Investments Ltd (LIL) for MYR124.7m, which owns a 60% stake in Zhuhai International Circuit (ZIC). That said, we downgrade our call as we think the positives are largely priced in and upside is limited following the recent strong share price performance.

Analyst(s):
Wan Muhammad Ammar Affan
ammaraffan@rhbgroup.com
Loong Kok Wen CFA
loong.kok.wen@rhbgroup.com