KUALA LUMPUR (Sept 19): AffinHwang Capital Research has maintained its “Buy” rating on Gabungan AQRS Bhd (GAQRS) with a lower target price of RM1.30 (from RM1.38) and said it understands that GAQRS had lost out on a deal with the Selangor state government (SSG) to build affordable housing in the state. In a note today, the research house said it cut its EPS forecasts by 7-12% for FY17-18E and reduce its RNAV-based target price by 6% to RM1.30 from RM1.38 to remove the contribution from this potential project. “GAQRS is still on track to secure the potential RM320 million Pahang administration centre project, which is in our earnings forecasts. “Maintain Buy,” it said.

Source: The Edge Markets September 19, 2016 01:10 UTC