Reuters: Private Equity: STOCKS NEWS MALAYSIA-TA downgrades SEGi to hold

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STOCKS NEWS MALAYSIA-TA downgrades SEGi to hold Apr 26th 2012, 02:26 Wed Apr 25, 2012 10:26pm EDT TA Research downgraded SEG International Bhd (SEGi) to hold as it saw the offer by Navis Capital to take over the education firm as unattractive. "Given the unattractive terms of the deal, we recommend investors to reject the offer by Navis," TA said in research note on Thursday. The broker cut its target price for SEGi to 1.98 ringgit per share to take into account the risk that the takeover offer will result in eventual delisting of the stock at a discounted price. "We shall review our recommendation once there is better clarity on the outcome of the takeover offer," it added. By 1022am (0222 GMT), shares of SEGi dropped 4.97 percent, underpeforming the Malaysia's benchmark stock index that climbed 0.11 percent. To read a related story, click 1023 (0223 GMT) (Reporting by Yantoultra Ngui in Kuala Lumpur; yantoultra.ngui@thomsonreuters.com) **************************************************************** 10:04 STOCKS NEWS MALAYSIA-MIDF upgrades Sunway Reit to buy MIDF Research upgraded Sunway Real Estate Investment Trust (Reit) to buy after the latter's latest earnings result exceeded market expectations. "Our forecast had underestimated the growth of the hospitality segment which had surprisingly registered commendable growth in a challenging economic environment," the broker said in a research note on Thursday. MIDF raised its target price for Sunway Reit to 1.39 ringgit per share from 1.36 ringgit previously, while it lifted the Reit's earnings forecast for the fiscal year ending June 30, 2012 by 6 percent. By 1000am (0200 GMT), Sunway Reit shares rose 2.42 percent, outperforming the Malaysia's benchmark stock index that climbed 0.08 percent. 1002 (0202 GMT) (Reporting by Yantoultra Ngui in Kuala Lumpur; yantoultra.ngui@thomsonreuters.com) Link this Share this Digg this Email Reprints

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