Bursa Malaysia Stock Watch
Kinsteel: Maintain Hold - Awaiting iron ore concession award
kltrader
Publish date: Thu, 01 Mar 2012, 09:17 AM
kltrader
0 20,641
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Significantly disappoints. Kinsteel's 2011 core net loss of RM87m (2010: RM33m net loss) was significantly below our full-year net loss forecast of RM22m and consensus' RM25m. Though near-term earnings will remain weak, we maintain our Hold rating, as the potential official award of the iron ore mine concession to Perwaja is a major re-rating catalyst. Maintain forecasts and TP of RM0.49 (0.55x P/BV).
Maybank Research 1 March 2012
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Maybank Research 1 March 2012
Click here for full report
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