Bursa Malaysia Stock Watch

Yinson Holdings: Maintain Buy - On the cusp of an earnings boom

kltrader
Publish date: Mon, 02 Apr 2012, 09:56 AM
kltrader
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Maintain Buy with a RM2.20 TP. Results met expectations albeit on weaker QoQ performance. Yinson continues to offer strong earnings growth prospects (3-year net profit CAGR of 28%), exposure to the Vietnam O&G sector minus the currency risk, and undemanding valuations. Our SOP-based TP implies a FY14 PER of 9x.


Maybank Research - 2 April 2012

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