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CIMB downgrades MSM; AllianceDBS ceases coverage

Mimi Sabreena 3:21:00 PM Informasi

KUALA LUMPUR (Aug 30): CIMB Investment Bank Bhd has cut its earnings forecast by up to 34% for MSM Malaysia Holdings Bhd to reflect higher raw sugar cost and start-up losses at its Johor refinery.

In a note today, CIMB analyst Ivy Ng Lee Fang said CIMB had also reduced its MSM share target price to RM2.70 from RM3.76. At 2:40pm, MSM shares changed hands at RM3.88 with 23,000 units traded.

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