Full year EPS may exceed 70 sen. PE will be below 5x based on yesterday’s closing price . Assuming another 20 sen final dividend, full year dividend will be 50 sen or dividend yield of 15.6% based on yesterday’s price . Unbelievable!
Ta Ann’s 9MFY21 core earnings surged 167% YoY to RM164m, bolstered by stronger plantation earnings and higher contribution from its associate companies.
The impressive results surpassed our and the street full-year expectations, making up 86% and 90%, respectively.
A higher DPS of 20sen was declared for the quarter, bringing the YTD DPS to 30sen.
Commenting on the prosperity tax, management sees muted impact if it is charged at the subsidiary level.
In view of the stronger-than-expected results, we raise our FY21-23F earnings forecast by 9%-20% after imputing in higher FFB production and margin expansion as well as higher contributions from associate companies.
Maintain Outperform call with a higher SOP-based TP of RM4.41.
The day EPF is not selling we can smile although it is not a substantial holder anymore but it still hold a substantial amount just look at IOI and other plantation counters they hold you will understand
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
gemfinder
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Posted by gemfinder > 2021-11-22 19:39 | Report Abuse
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