Bursa Malaysia Stock Watch

Wah Seong Corporation: Maintain Hold Eyes Congo palm oil venture

kltrader
Publish date: Wed, 08 Feb 2012, 09:53 AM
kltrader
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Following Message
Maintain Buy with a RM3.10 target price. We reckon WSC's venture into palm oil operations in Congo is part of the Group's agenda to anchor its non-O&G operations once the O&G business spins off from the Group. While this could provide long-term growth prospects, country and operation risks are the concerns, for little is known of Congo's suitability for oil palm cultivation, its economic strength and legislation stability. That aside, we remain positive on its pipe-coating business. Our TP is based on 14x 2012 EPS.


Maybank Research 8 Feb 2012

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Discussions
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lotsofmoney

Cannot understand why Congo palmoil should affect the share price here. Slavery was banned long time ago.

2012-02-08 15:56

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