RHB cuts Malaysia Airports to market perform
KUALA LUMPUR, July 30 — RHB Research downgraded shares of Malaysia Airports Holdings Bhd (MAHB) to 'market perform' from 'outperform,' and cut its fair value to RM5.84 from RM6.41 after the airports operator's first-half earnings missed its expectations.
The research house lowered MAHB's financial year ending Dec. 31, 2012 (FY2012) to FY2014 net profit forecasts by 2.3 per cent, 1.1 per cent and 1.8 per cent, citing the company's inability to contain rising operating costs.
By 9:39 a.m., MAHB shares fell 0.18 per cent to RM5.56, underperforming the Malaysia's benchmark stock index's 0.04 per cent rise. — Reuters