Bursa Malaysia Stock Watch

DRB (BUY) - Remain Affected by Thailand Flood

kltrader
Publish date: Mon, 27 Feb 2012, 02:14 PM
kltrader
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DRB (BUY)
Remain Affected by ThailandFlood

  • In line ' Reported 3QFY3/12 core earning ofRM79.6m, leading 9M12 to RM304.5m, achieving 77.8% of HLIB estimates, butbehind consensus with 71.1%.

  • Earnings was affected by the Thailand flood in Oct 2011, whichhad forced DRB 34% owned Honda Malaysia to shut down its Melaka assembly plant.The plant is only expected to gradually resume full production by 2Q12.
  • The acquisition of Proton to be completed by end Mar2012, and will be integrated into DRB group gradually. The acquisition willcost DRB RM3bn. Net gearing is expected to increase to ~45% from current levelof 10%, while NTA/share will improve to ~RM3.17.
  • Announced 1st gross interim dividend of 2 sen less 25% tax (net dividendof 1.5 sen).
  • Maintain BUY with unchanged Target Price of RM3.50.

Source: HLIB Research 27 Feb 2012
DRBHCOM (1619)
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Discussions
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lotsofmoney

Everybody are recommending 'buy', but the share price keep going down ! What is happening. TradeTalk are you the one who is throwing the share ?

2012-02-27 15:34

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