KUALA LUMPUR: AmInvestment Research is maintaining its forecasts for Perak Transit but tweaked its fair value (FV) lower by 3% to RM1.21 from RM1.25 to include a slight discount to reflect a two-star ESG rating as appraised by the research house.
It said on Tuesday, the basis of its FV was now 15 times FY22F EPS (at a 30% discount to its FY22F target PE of 22 times for Malaysia Airports) with a 3% ESG discount.
“We use Malaysia Airports as the valuation benchmark for Perak Transit as we see many similarities between this operator of modern public transport terminals and an airport operator. Maintain buy,” it said.
AmInvest Research was positive on the outlook for Perak Transit after a recent meeting.
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