The research house said the company will still be in a net cash position with excess cash of RM55mil, upon completion of the proposed acquisition. PublicInvest maintained its “outperform” recommendation on Prestariang, with an unchanged target price of RM2.87. The present sugar price is 13.2% than the average sugar price in 2016. “We believe this could affect near-term demand amid weak consumer confidence,” said the research house in its note. Affin Hwang kept its forecast earnings unchanged pending Bonia’s Q2’17 earnings which is expected to be released by end-Feb.

Source: The Star January 31, 2017 23:03 UTC