SINGAPORE (Nov 24): CIMB has upgraded its call on toll road operator China Merchant Holdings (Pacific) (CMHP) from “hold” to “add” but with an unchanged target price of $1.02.

“Being the only toll company with exposure to multiple provinces, CMHP can be more selective in choosing its investment targets. This, in our view, is a key advantage against its provincial SOE peers whose investments are confined within their home provinces,” states CIMB on Nov 24.

CMHP has strong backing in the form of its parent entity, China Merchant Group, one of the ten largest state owned enterprises directly under the Chinese central government’s control.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook