RHC has been a thorn in our side for the last year, struggling as the market pushed ever higher. We liked last year’s sale of Sime Darby JV to pay down debt, reducing gearing to 2.5x. This is a stock that’s disappointed too often over recent years, and to truly move out of the “naughty corner”, they need to deliver operationally – RHC reports on the 29th of this month.
- We like the risk/reward on RHC back below $47 – MM has a 5% position in RHC in our Active Growth Portfolio.
MM is long and cautiously bullish toward RHC
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