Bursa Malaysia Stock Watch
TSH Resources: Maintain Hold - Hurt By Higher Costs, Lower Output
kltrader
Publish date: Tue, 22 May 2012, 09:26 AM
kltrader
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This blog provides consolidated Bursa Malaysia stock market research, analysis, news and blogs from various sources. You can search and find all the past analysis and coverage on stocks and news by searching within this site. While this blog re-publishes contents from other sites, it does not own the rights nor responsible for the accuracy of the contents. If you disagree to your content from being published here, please add a comment, and your article will be removed from this site.
Below expectations. TSH's 1Q12 net profit of MYR15m (-42% QoQ, -37% YoY) accounts for 11% of our full year forecast. The shortfall is due to higher-than-expected costs on acceleration of manuring activity. Pending an update with management, our earnings forecasts, recommendation and TP of MYR2.78 (15x 2013 PER) are under review. Meanwhile, its share price has retreated 20% from its peak of MYR2.65 on lower CPO spot prices (12% off its peak).
Click here for full report
Source: Maybank Research - 22 May 2012
Click here for full report
Source: Maybank Research - 22 May 2012
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