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Pos Malaysia a 'buy': HwangDBS (4634)
by hlk Fri 03 Aug 2012, 18:40
HwangDBS Vickers Research initiated coverage of Pos Malaysia and
Services Holdings Bhd with a "buy" rating and a target price of RM4.60,
citing its attractive valuations.
"Valuation for Pos is cheap,
based on its forward financial year ending March 31, 2014 (FY14)
price-to-earnings ratio (PER) of 9 times (versus industry average of 11
times) while ex-cash FY14 PE stood at 5 times," the research house said
in a note on Friday.
HwangDBS said Pos Malaysia has more room
to reinvent and improve itself now with DRB-Hicom Bhd as its major
shareholder, offering new services ranging from pawnbroking to shared
banking services. DRB-HICOM holds 32.2 percent stake in Pos Malaysia.
By 10:19 am, shares of the company were up 1.72 percent at RM2.95 per
share, outperforming the Malaysia's benchmark stock index's 0.03
percent rise. -- Reuters
Services Holdings Bhd with a "buy" rating and a target price of RM4.60,
citing its attractive valuations.
"Valuation for Pos is cheap,
based on its forward financial year ending March 31, 2014 (FY14)
price-to-earnings ratio (PER) of 9 times (versus industry average of 11
times) while ex-cash FY14 PE stood at 5 times," the research house said
in a note on Friday.
HwangDBS said Pos Malaysia has more room
to reinvent and improve itself now with DRB-Hicom Bhd as its major
shareholder, offering new services ranging from pawnbroking to shared
banking services. DRB-HICOM holds 32.2 percent stake in Pos Malaysia.
By 10:19 am, shares of the company were up 1.72 percent at RM2.95 per
share, outperforming the Malaysia's benchmark stock index's 0.03
percent rise. -- Reuters
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