$GASMSIA / 5209 (GAS MALAYSIA BERHAD)
Research by MIDF
Buy – TP RM3.96

“Taking the lead in Malaysia's CHP business"

We make no changes to our forecast projection for GMB as we had factored in the CHP plants in our valuation. Pending major changes in the Brent crude oil price in the near-term which could impact gas uptakes, we maintain our BUY call with a target price of RM3.96.

Analyst:
MIDF Research
research@midf.com.my