Bursa Malaysia Stock Watch

Bursa Malaysia: Maintain Hold - Tracking to expectation

kltrader
Publish date: Fri, 20 Apr 2012, 09:19 AM
kltrader
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No surprises; maintain Hold. 1Q12 net profit of MYR40.8m made up 25% of our full-year forecast. We maintain our forecasts for an 11% growth in 2012 core net profit. Our target price is also unchanged as we continue to peg Bursa at a 20% discount to our target 25x for SGX i.e. at 20x current year earnings plus excess cash of MYR1.00/sh (31 Mar 2012). Within the Maybank-Kim Eng coverage, our Buy call is on SGX SP (TP: SGD8.00) for its structural growth potential.

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Source: Maybank Research - 20 April 2012
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