Bursa Alert
Global Market
NewsRHB ceases coverage on SEGi on lack of catalysts
Page 1 of 1
RHB ceases coverage on SEGi on lack of catalysts
by Cals Fri 15 Aug 2014, 00:47
| RHB ceases coverage on SEGi on lack of catalysts |
| Business & Markets 2014 |
| Written by Ahmad Naqib Idris Adzman Shah of theedgemalaysia.com |
| Thursday, 14 August 2014 10:50 KUALA LUMPUR (Aug 14): RHB Research Institute Sdn Bhd has ceased coverage on SEG International Bhd (SEGi) due to a lack of catalysts for the the education group. In a note, RHB also said SEGi's core earnings for the six months to June 30, 2014 (1HFY14) was lower than expected. “As SEGi lacks re-rating catalysts over the near term and due to resources reallocation, we are taking the opportunity to cease coverage on the stock. “Our previous recommendation was a "sell" with a FV (fair value) of MYR0.64, premised on a 14x FY14 P/E,” said RHB. RHB said SEGi's core net earnings of RM14 million for 1HFY14 fell below forecasts due “to continued weakness in its enrolments amid escalating competition within Malaysia’s tertiary education universe.” SEGi's revenue of RM123.3 million in 1HFY14 improved from a year earlier as revenue for 1HFY13 was impacted by a high number of students graduating from its nursing programme. Across the board, SEGi's current student base has declined to an estimated 24,000 to 25,000 from a high of 29,000 to 31,000 students two year ago, said RHB |
Cals- Administrator
- Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
Location : global
Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€
d have been right perhaps as often as seven out of ten times.â€
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis
Similar topics» Lack of fresh catalysts for Tenaga Nasional
» Noon Market KLCI stays in the red on lack of fresh catalysts
» RHB raises Boilermech FV to RM2.55, ceases coverage
» Mid-morning Market Lack of catalysts caps gains at local market
» Looking for catalysts
» Noon Market KLCI stays in the red on lack of fresh catalysts
» RHB raises Boilermech FV to RM2.55, ceases coverage
» Mid-morning Market Lack of catalysts caps gains at local market
» Looking for catalysts
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum|
|
|