KUALA LUMPUR: AmInvestment Bank Bhd Research (AmBank Research) has maintained its “underweight” call on PECCA GROUP BHD
with a lower fair value of RM0.55 per share from RM0.63 previously, after the group’s export business declined with weaker revenue contribution from Europe, which slid -31% year on year (y-o-y) and North America, which slowed down -25% y-o-y.
However, in a note yesterday, the research house said these were partially mitigated by higher sales contributions from Singapore and Africa, where the group posted stronger revenues of RM10.7mil (+5% y-o-y) and RM1.6mil (+14% y-o-y), respectively.
It said Pecca’s exports operations contributed to 17.4% of its total top line in nine-month of its financial year 2020 (9MFY20).
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