Analyst Pin-board: MPC AGM - 2019 Plan Needs Great Effords
Although the company has adjusted down its 2019 plan, we still concern its ability to complete the revised plan. EVFTA, if comes into effect in 2020, is not likely to support sales as EU is not among strategic markets of MPC. The risk of being charged guilty for anti-dumping duty evasion in the US market does exist while the back-up plan is not clear. In addition, the company unclear answers to many strategic issues as well as important differences in business and investment plans before and after the private placement to Mitsui raise doubts among us about the transparency of the management. We recommend investors to MONITOR this stock.
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