Bursa Malaysia Stock Watch

Notion VTEC (Hold): Weak outlook due to Thai flood

kltrader
Publish date: Thu, 24 Nov 2011, 04:32 PM
kltrader
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Results in line. FY11 core net profit of RM40m (+7% YoY) was 100% of our full-year forecast and 98% of consensus. Though NVB is trading close to its trough valuation and the negative impact of the Thai flood is receeding, we think poor near-term earnings will cap share price upside. Yesterday, NVB announced a potential RM5m cost provision for FY12. We maintain our earnings estimates pending an analyst briefing today. No change to our Hold call and TP of RM1.50.

Maybank research (24 November 2011)

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