Bursa Malaysia Stock Watch
RHBInvest Research Highlights 07th December 2011
kltrader
Publish date: Wed, 07 Dec 2011, 11:58 AM
kltrader
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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.
07th December 2011
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| MALAYSIA EQUITIES |
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| APM VISIT NOTE Dividend potential to support share price We see APM facing a challenging year in 2012 with pressure on both costs and pricing, with the recent strength of the JPY and US$ raising pressure on margins. APM also faces renewed pressure on pricing from OEM customers continually looking to cost down. While we see multiple growth opportunities for APM, some of these can only be realised in the medium term from 2013 and beyond. Investor interest in APM could be sustained by the possibility of a higher dividend payout considering its consolidated net cash position of RM361.6m at end-Sep. We reiterate our Market Perform call and revise our fair value estimate to RM4.30 (from RM4.50). Our conservative dividend estimates already imply a 5% annual gross yield that should help support the share price. Related story: APM Results Note ' 3Q11 Earnings Disappoint (18 Nov 2011) MRCB NEWS UPDATE Formally appointed PDP of River Of Life project Related story: MRCB News Update ' Lands RM40.3m Perai River Estuary Rehabilitation Project (1 Dec 2011) | ||||||||||||||||||||||||||||
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