NST Online Business Times : latest
NST Online Business Times : latest |
| RHB starts IHH with ’outperform’ Posted: 02 Oct 2012 06:59 PM PDT KUALA LUMPUR: RHB Research initiated coverage of IHH Healthcare Bhd with 'outperform' rating and fair value of 3.53 ringgit per share, citing strong earnings growth prospects for the world's second largest private healthcare service provider through 2014. "While valuations are relatively expensive at 33.5 times 2013 price-to-earnings ratio, we believe there is still room for valuations to move higher given its strong earnings visibility and wider network of hospitals, which could result in significant savings from better economies of scale compared to its regional peers," the research house said in a note on Wednesday. RHB forecast core net profit growth of 5.8 percent for IHH in 2012, 25.9 percent in 2013 and 26.0 percent in 2014. "Singapore will be the main earnings driver for the company, driven by the gradual ramp-up of the new state-of-the-art Mount Novena hospital," it added. |
| Maybank rates Yeo Hiap Seng at ’buy’ Posted: 02 Oct 2012 07:18 PM PDT Maybank Kim Eng initiated coverage of Yeo Hiap Seng Ltd with a 'buy' rating and a target price of S$2.25, on expectations of improving profitability and its exposure to the attractive food and beverage sector. By 0201 GMT, Yeo Hiap Seng shares were unchanged at S$1.96, but have surged nearly 69 percent since the start of the year. After restructuring, property developer Far East Organisation will emerge as a major shareholder of Yeo Hiap Seng, with a 66 percent stake in the company, Maybank said, adding that Yeo Hiap Seng is also planning to privatise its 61 percent owned unit Yeo Hiap Seng (Malaysia) Berhad, which will give it a larger share of profit from Malaysia. Maybank said higher expected margins for Yeo Hiap Seng will also drive future profit growth, and its huge landbank, especially in Malaysia where it owns over 2 million square metres of land, is worth at least S$250 million. |
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