Bursa Malaysia Stock Watch
Mah Sing Group: Hold
kltrader
Publish date: Tue, 22 Nov 2011, 03:00 PM
kltrader
0 20,638
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Hits 2011 sales target
Maintain Hold. MSGB's 9M11 net profit came in as expected. MSGB has hit its RM2b sales target for 2011 before year-end whilst unbilled sales have shot up to all time high at RM2.1b (1.4x our 2012 forecast). No change to our earnings forecasts and RM1.76 TP (40% discount to RM2.94 RNAV). The new guidelines on responsible finance by BNM could result in some selling pressure on property counters although we think the real impact on property demand may not be significant.
Maybank research (22 November 2011)
Click here for full report ''
Maintain Hold. MSGB's 9M11 net profit came in as expected. MSGB has hit its RM2b sales target for 2011 before year-end whilst unbilled sales have shot up to all time high at RM2.1b (1.4x our 2012 forecast). No change to our earnings forecasts and RM1.76 TP (40% discount to RM2.94 RNAV). The new guidelines on responsible finance by BNM could result in some selling pressure on property counters although we think the real impact on property demand may not be significant.
Maybank research (22 November 2011)
Click here for full report ''
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