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CAO primed to achieve greater heights on China’s burgeoning tourism market: Maybank KE

Michelle Zhu
Michelle Zhu9/6/2017 12:01 PM GMT+08  • 2 min read
CAO primed to achieve greater heights on China’s burgeoning tourism market: Maybank KE
SINGAPORE (Sept 6): Maybank Kim Eng says it likes China Aviation Oil (CAO) as one of the largest jet fuel physical traders in the Asia Pacific (APAC) region, the group’s strategy for the expansion of its core China jet fuel supply business, as well as i
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SINGAPORE (Sept 6): Maybank Kim Eng says it likes China Aviation Oil (CAO) as one of the largest jet fuel physical traders in the Asia Pacific (APAC) region, the group’s strategy for the expansion of its core China jet fuel supply business, as well as its reasonable valuations.

In an unrated report issued on Wednesday, analyst Neel Sinha says the stock is trading at a reasonable 10.3 times FY17 P/E based on consensus estimates, and at about 8.5 times on an ex-cash basis, underpinned by 8% and 10% profit growth expectations for FY17 and FY18, respectively.

CAO is among the largest jet fuel traders in the region, and the only licensed importer for bonded jet fuel into China.

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