We  cease  coverage  on  Hai-O  due  to  resource  allocation.  Our  last recommendation for the stock was NEUTRAL with a FV of MYR2.73.

Ceasing  coverage.  Our  previous  recommendation  on  the  stock  was NEUTRAL, and our MYR2.73 FV was pegged to 12x CY15 EPS. We are discontinuing coverage on Hai-O due to resource allocation. Although its multi-level marketing (MLM) division might be making a comeback in  the medium  term,  the  rebound  is  still  at  an  early  stage  and  could  be susceptible to currency movements and changes in consumer sentiment.

Source: RHB