Bursa Malaysia Stock Watch

IOICORP - No near term catalysts

kltrader
Publish date: Tue, 14 Feb 2012, 06:50 PM
kltrader
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IOI Corporation; Hold; RM5.47
Price Target: RM5.50; IOI MK

FY12F-14F earnings revised by -5% to +4% to account for revised CPO prices and FX rates. We expect 2QFY12 NPAT to come in at RM450- 460m; up 74-78% QoQ on smaller FX losses. Indonesia expansion slowed in FY11; expect more aggressive 10k ha planting in FY12F. Lacklustre Singapore property sales and weak refining margins; Hold for dividends

Source - HwangDBS Research 14 Feb 2012
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