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UOB Kay Hian upbeat on gaming as NFOs restart operations

KUALA LUMPUR: UOB Kay Hian Malaysia Research is upbeat on the numbers forecast operators (NFOs) as they were allowed to start the first draws on Wednesday after a 3.5-month lockdown.

“With the nation’s encouraging vaccination milestones, we are optimistic that the NFOs will chart an uninterrupted swift earnings recovery and meaningful capital appreciation.

“Investors will again be attracted to the sector’s compelling risk-reward return, resilient cash flows and more than 6.6% lucrative yield. Maintain overweight,” it said.

UOB Kay Hian Research said with the nation’s vaccination rate expected to reach more than 80% for adults, NFOs were allowed to reopen for business from Sept 13, subject to having acceptable standard operating procedures (SOP) in place to ensure proper social distancing.

It also pointed out that

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