Affin Research maintains Buy on Benalec

KUALA LUMPUR: Affin Research has maintained its Trading Buy call on Benalec with a target price of RM1.98, it said on Monday.

Affin said Datuk Leaw Seng Hai’s raising his indirect interest in Benalec Holding and the two-year option granted by Datuk Leaw Ah Chye as well as Datuk Leaw Tua Choon ceasing to be a substantial shareholder will help to address concerns about a sibling tussle impacting the management and operations of Benalec Holdings.