KUALA LUMPUR: Kenanga Research is neutral over QL Resources Bhd's acquisition of an additional stake in Boilermech Holdings Bhd given its minimal financial impact."We are neutral over this acquisition as our preliminary estimates suggest that the additional 4% stake in Boilermech would pose negligible impact to earnings."Furthermore, assuming the proposed acquisition of RM19.6m is fully debt funded given that QL has yet to disclose its planned proportion of borrowings against internal funds for this acquisition, the group would still remain in a comfortable net gearing of 0.25x (versus pre-acquisition,
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