PETALING JAYA: Gadang Holdings Bhd’s weaker-than-expected first quarter results, coupled with a challenging outlook, have prompted TA Securities to trim its earnings forecasts for the construction and property development company.
The research house also downgraded its construction progress and margin assumptions for the various projects under Gadang.
In its latest report, TA Securities cut forecasts for Gadang’s earnings for the financial years ending May 31,2021 (FY21) to FY23 by 22.5%, 8.8% and 4.8%, respectively.
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