SINGAPORE (Nov 8): RHB Research is maintaining its “buy” call on Moya Holdings Asia, with a lower target price of 11 cents compared to 15 cents previously to factor in further depreciation of the IDR as well as macroeconomic uncertainty.

In a Monday report, analyst Jarick Seet says he continues to see strong organic growth for Moya based on its latest set of 3Q earnings which reflected lower financing costs, concessions and recovery of its non-revenue segment.

He also expects full-year accretion from acquatico as well as additional accretive acquisitions in the pipeline to boost the group’s net profit going forward.  

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