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us apple developer accounts for sale(buyappleacc.com):Kenanga lowers earnings forecast on Petronas Dagangan

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,KUALA LUMPUR: Petronas Dagangan Bhd could be faced with a potentially weaker quarter in 3Q after posting weaker-than-expected results in the first half of the year on lower peoduct margin spread and lower sales volume.The group recorded an improved performance in 1HFY21 comapred to the first half of last year but 2Q core earnings were seen declining 56% to RM81mil from the immediate preceding quarter due to the normalisation of underlying oil prices and the reimplementation of the MCO in the recent quarter."We believe the upcoming 3QFY21 quarter may potentially post sequentially weaker numbers as the imposition of the nationwide 'total lockdown' could affect sales volumes," said Kenanga Research in a note.It lowered its FY21/FY22 earnings forecasts by 11% and 5% on the back of lower margins spread and sales volume assumptions.It maintained "market perform" while its target price was cut to RM18.90 from RM19.80 previously, pegged to unchanged valuations of 26x price-earnings ratio.However, the research house remains hopeful of an earnings recovery in FY22 due to the graudally increasing vaccination rates.
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