Focus on firms with Turkish ops

TheStar Thu, Aug 06, 2020 07:40am - 3 years View Original


“I feel that IHH’s Acibadem is one of the bright spots for the IHH group. I am not really concerned at all and the developments in the lira are just white noise, ” the analyst said. He said that when compared to a year ago, IHH’s Turkish lira debt had reduced by some 30% in its latest results.

PETALING JAYA: The overnight fall in the Turkish lira has placed the focus on two stocks that have their operations in the country – IHH Healthcare Bhd and Malaysia Airports Holdings Bhd (MAHB).

The Turkish lira, which was already hovering at its historical lows, has seen renewed selling interest after it was reported that the overnight borrowing cost of the Turkish currency in the offshore market had surged to the highest level since March 2019.

There was a renewed fall in the Turkish lira yesterday, with the currency weakening by 1.86% against the US dollar to 7.0259 as at press time.

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