9MFY6/21F core net profit of RM384m was in line at 74% of our full-year forecast, but underperformed the street at 65% of consensus’ full-year. Reiterate Add as we expect Dialog’s 4QFY21F to be better than the 3QFY21, as the new BP Singapore terminal will contribute a full quarter’s earnings. We lower our SOP-based TP to RM3.82, as we raise the Ke from 5% to 6.6% to factor in rising risk-free rates and the tougher operating environment.
- 1 Macro Analysis/Global Central bank monetisation raises risk of inflation and currency crisis
- 2 Weekend Reading/El Salvador Why Facebook and CBDC could be real winners from El Salvador’s Bitcoin embrace
- 3 Flash Report/Uruguay dLocal: Strong post-IPO rally reaffirms EM digital payments infrastructure story
- 4 Strategy Note/Global G7's 'Build Back Better World' is not an answer to China's Belt and Road
- 5 Macro Analysis/Global G7 reiterates support for SDR allocation and seeks to boost its impact
This publication is being distributed by Tellimer solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. The information does not con...