Apr 15, 2010

KNM Downgraded

KNM Group (RM0.735; Fully Valued; Price Target: RM0.65;
KNMG MK)
Takeover deal is off
•  Consortium cannot agree on takeover price
•  Near term selling pressure on negative newsflow
•  Downgrade to Fully Valued; TP cut to RM0.65 based on
9x FY11F earnings

source: HWDBS Vickers