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NewsM & A Securities maintains Hold on Kossan, fair value RM4.24
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M & A Securities maintains Hold on Kossan, fair value RM4.24
by Cals Mon 17 Jun 2013, 10:30
| M & A Securities maintains Hold on Kossan, fair value RM4.24 |
| Business & Markets 2013 |
| Written by Reuters |
| Monday, 17 June 2013 08:42 |
KUALA LUMPUR (June 17): M & A Securities has maintained Hold on Kossan Rubber Industries Bhd with a fair value of RM4.24 after the company said it is looking to expand its production capacity to 22 billion pieces per annum by April 2014.
In a note Monday, the research house said the addition of the new plants will boost Kossan's current output by six billion pieces per annum from its current output of 16 billion pieces.
“We maintain our Hold on Kossan and Fair Value at RM4.24 by pegging its 3 year average P/E multiple of 11.47x to its EPS13f of 36.95 sen,” it said.
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