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Thursday, February 17, 2011

Proton cut to ‘sell’ on possible Q3 loss (BT)

PROTON Holdings Bhd, Malaysia’s state-controlled carmaker, was downgraded at UOB Kay Hian Holdings Ltd, which cited a possible loss in the fiscal third quarter amid “substantially” lower cash levels.

The stock was cut to “sell” from “hold” and its share price estimate reduced to RM3.75 from RM5.20, Vincent Khoo, an analyst at UOB Kay Hian, wrote in a report today. - Bloomberg

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