Westports shares surge over 4% after CIMB report cites catalysts
The kickers are start of key customer alliance, renewal of Investment Tax Allowance, govt nod to raise port tariffs
Kuala Lumpur
THE shares of Westports Holdings leapt over 4 per cent to RM3.42 apiece on Tuesday, after CIMB released a report on the same day predicting that the stock was due for a re-rating on the back of three "explosive" catalysts.
The three kickers cited by the investment bank: the start of the Ocean Three alliance; a renewal of the port operator's Investment Tax Allowance (ITA), and government approval to raise port tariffs.
TRENDING NOW
One-third of Singapore-listed firms at risk in severe AI downturn: MAS
‘We don’t want to stay as we are’: CEO Patrick Ng builds a more resilient Huationg
He built the Vingroup empire. Now South-east Asia’s richest man is handing some key roles to his sons
Radiant World table shows six lenders with US$870 million exposure
