UOB Kay Hian Research Articles
Yee Lee Corporation: Value Appeal
UOBKayHian
Publish date: Tue, 04 Apr 2017, 09:06 AM
UOBKayHian
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An official blog in I3investor to publish research reports provided by UOB Kay Hian research team.
All materials published here are prepared by UOB Kay Hian. For latest offers on UOB Kay Hian trading products and news, please refer to: http://www.utrade.com.my
UOB Kay Hian Securities (M) Sdn Bhd (194990-K)
Hotline:
1800 UTRADE /
1800 88 7233 (Securities)
+6088 235611 (Futures)
Email: contact@utrade.com.my
All materials published here are prepared by UOB Kay Hian. For latest offers on UOB Kay Hian trading products and news, please refer to: http://www.utrade.com.my
UOB Kay Hian Securities (M) Sdn Bhd (194990-K)
Hotline:
1800 UTRADE /
1800 88 7233 (Securities)
+6088 235611 (Futures)
Email: contact@utrade.com.my
(YEE MK/BUY/RM2.58/Target: RM2.90)
Yee Lee’s consumer staples-focused business remains largely resilient, with earnings growth driven by the manufacturing division (higher profitability on its cooking oil floating scheme and capacity) and improved efficiency in the aerosol can business. Despite disappointing Red Bull sales in 2016, we expect the trading segment to remain intact. Yee Lee is trading at an undemanding 9.2x 2018F PE. Maintain BUY. Target price: RM2.90.
Source: UOB Kay Hian Research - 4 Apr 2017
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