NST Online Business Times : latest
NST Online Business Times : latest |
| Felda Global gets 'market perform' call Posted: 25 Sep 2012 06:41 PM PDT RHB Research initiated coverage of Felda Global Ventures Holdings Bhd with a "market perform" rating and target price of RM5, a small premium to the stock's last closing price of RM4.88. "We initiate coverage on Felda with this recommendation due to its relatively sober earnings growth and our downward projections for crude palm oil (CPO) prices, and similarly unexciting valuations," RHB Research said on Wednesday. RHB projects a three-year compound annual growth rate (CAGR) of 4.9 percent for Felda. It expects 1.3 percent growth for the current year and 6.4 percent to 7.1 percent for the next two years. It adds that Felda's disposal of non-core and non-performing assets, which are weighing earnings down, may be the catalyst for a rerating. Felda has been on a downward trend since its debut on the local bourse late July, last closing 10 percent lower than its initial offer price. The company's US$3.1 billion initial public offering was the biggest in Asia this year. |
| Ho Wah surges on RM800m contracts Posted: 25 Sep 2012 07:18 PM PDT Shares in Ho Wah Genting Bhd climbed as much as 4.64 percent to RM0.34 on Wednesday after one of its units won RM800 million (US$260.50 million) contracts from two Japanese firms. Ho Wah said on Tuesday MyLed Opto Tech Sdn Bhd, a light emitting diode (LED) maker in which it owns 51 percent, secured the contracts from Japan's Kirutorisu Tech and Atotis Co Ltd, marking the company's venture into the Japanese vending machine market. -- Reuters |
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