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Brokers' take

Published Tue, Dec 9, 2014 · 09:50 PM

Nam Cheong | Hold

Dec 9 close: S$0.315

Target price: S$0.37

OCBC Investment Research, Dec 9

Last week, Petronas announced that it is looking to cut capital expenditure for new projects by 15-20 per cent next year should oil prices remain low. The earlier RM300 billion (S$113.5 billion) capex planned for 2011-2015, or RM60 billion a year, was made on the assumption of oil prices at US$80 per…

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