NST Online Business Times : latest
NST Online Business Times : latest |
| Kenanga cuts Bina Puri target price Posted: 17 Jan 2013 06:08 PM PST Kenanga Research cut its target price for Malaysian builder Bina Puri Holdings Bhd to RM0.40 from RM0.48, citing potential dilution from an upcoming private placement by the company. Kenanga said the private placement was "inevitable" due to Bina Puri's worsening cash flows, which were the result of a year-long delay on an infrastructure project. "The delay has negatively impacted the company's cash position, because of the mismatch between the project's revenue recognition and its recurring fixed cost," said Kenanga. The brokerage maintained an 'underperform' call for the stock, which was down 0.66 per cent at RM0.75, its lowest since April 2010, at 0923 am (0123 GMT). -- Reuters
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| Affin raises KL Kepong target price Posted: 17 Jan 2013 06:09 PM PST Affin Investment Bank raised the target price of Malaysia's third biggest oil palm planter KL Kepong Bhd (KLK) to RM19.62 per share from RM18.64 as productivity improves in the firm's Indonesian estates. KLK is likely to post above average growth for fresh fruit bunch (FFB) output as more estates in Indonesia reach maturity and new acquisitions raise the firm's landbank close to 300,000 hectares, Affin said in a note. Higher yields from KLK's estates are likely to lower production costs to RM1,290 per tonne this year from RM1,303 last year, the investment bank said. Affin kept a "reduce" call on the stock as the price outlook is not so bright for crude palm oil extracted from the FBB on account of high stocks of the edible oil in Southeast Asia and sluggish demand.
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