John Cheong of UOB Kay Hian has again raised his target price for Oiltek International following the company's bid for a secondary listing on the Bursa.
By doing so, the company aims to lift its visibility and accessibility among Malaysian investors, particularly given its strong operational footprint in Malaysia.
"The proposed listing is expected to diversify Oiltek’s investor base, increase trading liquidity and provide greater flexibility for future capital-raising initiatives," states Cheong in his July 22 note.
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