Bursa Malaysia Stock Watch
Multi-Purpose Holdings (Buy): The taxman cometh in 3Q11
kltrader
Publish date: Thu, 24 Nov 2011, 04:30 PM
kltrader
0 20,407
This blog provides consolidated Bursa Malaysia stock market research, analysis, news and blogs from various sources. You can search and find all the past analysis and coverage on stocks and news by searching within this site. While this blog re-publishes contents from other sites, it does not own the rights nor responsible for the accuracy of the contents. If you disagree to your content from being published here, please add a comment, and your article will be removed from this site.
Still a Buy. Multi-Purpose Holdings' (MPHB) 9M11 results were below expectations but this was largely due to a higher than expected tax rate of 24% (versus our expectation of 20%). Going forward, its operations are expected to remain stable. We still like MPHB (RM3.64 target price) for its cheap valuations (<10x PERs) and potential for special dividends and stronger recurring dividends post the disposal of non-core assets.
Maybank research (24 November 2011)
Click here for full report
Maybank research (24 November 2011)
Click here for full report
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