Nam Cheong: CIMB downgrades to Hold from Add, cutting TP to $0.32 from $0.39, conceding it was overbullish to think that Nam Cheong would sustain a strong 2014 sales momentum.
CIMB takes cue on weak sales for 1Q15, but expects net profit to still be temporarily buoyed by its RM1.7b order book, and says this is an opportunity to sell into strength. The house prefers Swissco
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