Expect 4Q21F earnings and DPS recovery ■ 9M21 core net profit was above expectations at 82% of our FY21F forecast (68% of consensus) on robust commercial sales and retail cost savings.■ PDB declared a higher-than-expected DPS of 20 sen. Hence, we raise our FY21-23F EPS and DPS forecasts and our DDM-based TP to RM20.95.■ Reiterate […]

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