Bursa Malaysia Stock Watch

MSM Malaysia Holdings: Maintain Hold - 4Q11 will be better than 3Q11

kltrader
Publish date: Thu, 16 Feb 2012, 09:40 AM
kltrader
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Maintain Hold. MSM is expected to release its 4Q11 results in the fourth week of February. 4Q11 is a seasonally strong quarter due to the year-end school holidays and Christmas. Furthermore, MSM will reap the benefit of softening raw sugar prices in the quarter. We however estimate a mismatch in the new locked-in cost of raw sugar versus the new government subsidy. Maintain Hold, as we put our DDM-based target price of RM4.10/share under review pending clarifications.


Maybank Research 16 Feb 2012

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