Bursa Malaysia Stock Watch

NAIM - AmResearch maintains Naim Holdings FV at RM5.09

kltrader
Publish date: Thu, 25 Nov 2010, 11:07 AM
kltrader
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Stock Name: NAIM
Company Name: NAIM HOLDINGS BHD
Research House: AMMB

KUALA LUMPUR: AmResearch is maintaining its earnings forecast and fair value of RM5.09 a share for NAIM HOLDINGS BHD [], pending further updates from management ' with an upward bias.

'We continue to like Naim for exposure to a re-acceleration of infrastructure spending ahead of the Sarawak state elections (due by July 2011) ' with added oil & gas kickers coming from Dayang,' it said on Thursday, Nov 25.

AmResearch said Naim reported 9MFY10 results which were above expectations. 3QFY10 earnings surged 52% YoY to RM37 million ' bringing profits for 9MFY10 to RM75 million (+26% YoY). This constitutes 84%-87% of both consensus and its full-year estimates, respectively.

 
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