Affin Hwang Capital Research Highlights

HwangDBS Research Highlights - 9 Dec 2013

kltrader
Publish date: Mon, 09 Dec 2013, 09:31 AM
kltrader
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This blog publishes research highlights from Affin Hwang Capital Research.

SapuraKencana Petroleum; Buy; RM4.38
Price Target: RM5.90 (Prev RM4.85); SAKP MK
Moving up the value chain

3QFYJan14 results met expectations. Shareholders approved acquisition of Newfield Malaysia; raised FY15- 16F profit by 22%/20%. Maintain BUY with revised RM5.90 TP.

TSH Resources; Buy; RM2.94
Price Target: RM3.60 (Prev RM3.20); TSH MK
Relentless expansion

Proposes to acquire 60% stake in SKE which owns 27k ha of plantation land in Sabah. Immediate expansion of Sabah land bank to 31k ha from 4k ha; 90k ha of unplanted land bank to drive future growth. Maintain BUY with revised RM3.60 TP

Source: HwangDBS Research - 9 Dec 2013

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