Highlights

TA Enterprise - Property income picked up

Date: 19/12/2012

Source  :  HWANGDBS
Stock  :  TA       Price Target  :  0.90      |      Price Call  :  BUY
        Last Price  :  0.655      |      Upside/Downside  :  +0.245 (37.40%)
 


TA Enterprise; Buy;
Fair value: RM0.90 (Prev: RM1.00); TAE MK


3QFY13 result was within our expectation; property income picked up and hotel business was stable, but broking remained a drag. Expect larger contribution ahead from property development as sales have picked up. No dividend was declared in the quarter, as expected. Maintain BUY rating; nudged down SOPderived TP to RM0.90.

Source: HwangDBS Research - 19 Dec 2012

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Labels: TA

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