Bursa Malaysia Stock Watch

UMW Holdings (Hold): Auto grows; O&G drags

kltrader
Publish date: Fri, 25 Nov 2011, 11:31 AM
kltrader
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Maintain Hold. Results are tracking to our expectation but below consensus. UMW remains a Hold. The auto supply chain disruption in Thailand is our biggest concern, for the auto division is the largest contributor to earnings. Its unprofitable O&G division remains a drag. Our target price is unchanged, based on 11x 2012 PER.


Maybank research (25 November 2011)

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