Affin Hwang Capital Research Highlights

HwangDBS Research Highlights - 30 Jan 2014

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Publish date: Thu, 30 Jan 2014, 11:07 AM
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This blog publishes research highlights from Affin Hwang Capital Research.

Bursa Malaysia; Buy; RM7.70
Price target: RM10.10 ; BURSA:MK
Higher dividends

FY13’s RM173m net profit was in line; driven by firm revenues from securities and derivatives. Kickers from potential structural changesin fees and costs could further lift earnings. Declared 16sen final DPS, FY13’s total payout of 98% (ex-special dividend) exceeded our expectation of 90%. Maintain BUY and RM10.10 TP. 

Source: HwangDBS Research - 30 Jan 2014

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