KUALA LUMPUR: CGS-CIMB Equities Research downgrades its call for Mynews Holdings from Add to Hold, as it tempered its sales growth and margin expectations after a recent analyst briefing.
It said on Wednesday the company’s food production centre is currently underutilised at 25% of full capacity after restarting operations in mid-June, following a six-week closure.
“While movement restrictions have eased gradually, we think that footfall recovery is likely to be slow, as cautiousness on Covid-19 abounds, ” it said.
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