Straits Asia

Straits Asia: DMG downgrades to Neutral from Buy with, TP $3.08, Note that co. trades at at 10% premium to peer average with all good news priced in, namely Sebuku’s Northern Leases permits have been issued and higher coal prices averaging US$125/tonne YTD. Downgrade due to lack of visible catalysts for further share price upside and believe investors should await a better entry level.