Bursa Malaysia Stock Watch
Kuala Lumpur Kepong (Sell; TP: RM21.03) - Sells retail units & expands landbank
kltrader
Publish date: Wed, 21 Mar 2012, 04:27 PM
kltrader
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Kuala Lumpur Kepong (Sell; TP: RM21.03)
Sells retail units & expands landbank
- KLK made two announcements yesterday:
- Disposed its wholly-owned subsidiary CE HoldingsLimited, which in turn holds the entire global Crabtree & Evelyn businessfor US$155m (or RM465m); and
- Acquired a 90% stake in PT GPM, which currently holdsa certificate of Izin Lokasi for land measuring ~7,400 ha in Kalimantan Timur, Indonesiafor RM3.6m.
- No change in our earnings forecasts, TP (RM21.03 based on CY2012 EPS of134.2 sen) and Sell recommendation on the stock.
Source: HLIB Research 21 March 2012
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