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BRIEF-Aseambankers cuts Malaysia oil and gas stocks

Thu Oct 30, 2008 11:24pm EDT

Stocks

    
 KUALA LUMPUR, Oct 31 (Reuters) - Aseambankers said on
Friday it downgraded Malaysia's oil and gas sector to
underweight from overweight.
 *says cuts target price for companies under coverage by 27
percent to 51 percent
 *says lower capex spending, tighter credit financing,
easing price outlook for new contracts and fears about contract
cancellation will weigh on investor sentiment
 Company                   New TP   Old TP
 Alam Maritim (ALMT.KL)    1.55 rgt  3.14 rgt
 EPIC (EPIC.KL)            1.19 rgt  1.63 rgt
 Petra Perdana (PTRD.KL)   2.48 rgt  4.00 rgt
 Ramunia (RAMU.KL)         1.36 rgt  1.70 rgt
 SapuraCrest (SCRS.KL)     1.08 rgt  1.80 rgt
 Shell (SLRS.KL)           7.90 rgt  9.10 rgt
 Tanjung Offshore (TJGO.KL)1.38 rgt  2.50 rgt
 Wah Seong (WAHE.KL)       1.58 rgt  2.65 rgt



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