NST Online Business Times : latest
NST Online Business Times : latest |
| Bullish FY13 results lift DiGi share Posted: 06 Feb 2014 06:41 PM PST DiGi.Com Bhd's shares increased 1.443 per cent this morning as the stock became attractive following its better-than-expected 2013 financial year results posted yesterday. As at 10am, the telecommunication services provider's share rose seven sen to RM4.92, with 6.858 million lots changing hands. DiGi.Com registered a higher pre-tax profit of RM1.705 billion for the financial year ended December 31, 2013 against RM1.205 billion recorded in the previous financial year. Revenue grew to RM6.733 billion in the period under review from RM6.360 billion registered in 2012.
HwangDBS Vickers Research said DiGi.Com was poised for growth in the current financial year. "We think DiGi will enjoy earnings upside from subscriber gains as a result of expanding 3G population coverage, greater mobile internet usage and stable margins through cost efficiencies. "Moreover, depreciation expenses would be lower as its new network has a longer useful life and was built at a lower cost compared to its legacy network," the research house said in a note today. The research firm has upgraded DiGi to a 'buy call, with a higher target price of RM5.35, after increasing its terminal growth assumption to two per cent from 1.5 per cent. HwangDBS said that it was optimistic on DiGi's earnings outlook, given its strengthening position in the prepaid segment. Meanwhile, Kenanga Research said DiGi is expected to deliver between four and six per cent revenue growth in the FY14, higher than the industry average of four per cent. Following the projection, the research house has maintained its 'outperform' rating on DIGi.Com, with unchanged target price of RM5.24. Kenanga Research had also raised its FY14 and FY15 net profit forecasts on DiGi by 6.7 per cent and 2.5 per cent, respectively, after fine-tuning and lowering the depreciation cost assumption.-- Bernama |
| UEM Sunrise, KL Kepong in Iskandar jv Posted: 06 Feb 2014 07:13 PM PST UEM Sunrise Bhd and Kuala Lumpur Kepong Bhd will jointly develop two projects in Iskandar Malaysia, Johor generating RM20 billion in gross development value. The first project is the 2,500 acres Fraser Metropolis, which will comprise residential, industrial and commercial properties worth RM15 billion to be developed over 15 years. The second development is the 500 acres Gerbang Nusajaya featuring residential and commercial properties worth RM5 billion to be developed over eight years. Both parties formalised two separate agreements today for the planned joint venture developments.
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