Affin Investment Bank downgraded Malaysian betting firm
Berjaya Sports Toto to 'add' from 'buy' to reflect
recent gains in the company's share price.
The bank said in a research note on Monday that the firm's
shares had risen just over 7 percent since mid-June, taking them
closer to Affin's target price of 4.95 ringgit per share.
Berjaya Sports Toto is slated for a listing on Singapore's
stock exchange in January 2013.
"In the longer run, the Singapore listing could help provide
better financial fundingand capital management flexibility,"
At 1001 (0201 GMT) Berjaya Sports Toto shares were unchanged
at 4.43 ringgit per share while the benchmark composite index
was up 0.33 percent at 1,677.42
1005 (0205 GMT)
(Reporting by Siva Sithraputhran in Kuala Lumpur; Editing by
Sunil Nair; firstname.lastname@example.org)