Bursa Community
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Bursa Community

Bursa Malaysia Stock Forum - Enriching You!


QL Resources on expansion mode

Bursa Community :: Community News

Go down

QL Resources on expansion mode Empty QL Resources on expansion mode

Post by Cals Fri 28 Jun 2013, 11:47

QL Resources on expansion mode
Business & Markets 2013
Written by BIMB Securities   
Friday, 28 June 2013 11:15
QL RESOURCES BHD []
(June 27, RM3.10) 
Maintain buy at RM3.08 with a target price of RM3.68: QL currently operates plants with a capacity to produce 40,000 tonnes of surimi (a type of fish paste). Out of this, 30,000 tonnes comes from its plants in Malaysia and the rest from Surabaya in Indonesia. Hence, QL is one of the largest producers of surimi in Asean and holds a 10% share of the region’s market. 

In March 2013, QL acquired Zhongsan True Taste Food in China for 18.8 million yuan (RM9.4 million) cash in an effort to gain a foothold in China. 

It has also invested in a prawn aquaculture project in Kudat, Sabah, with phase 1 expected to be completed by the fourth quarter of 2015 financial year. Management has indicated an initial turnover of about RM20 million to RM30 million from this venture.

We peg a target price of RM3.68 based on 2014 calendar year earnings per share of 19.4 sen over its past two-year average price-earnings of 19 times. Still a “buy”. — BIMB Securities, June 27
[You must be registered and logged in to see this image.]


This article first appeared in The Edge Financial Daily, on June 28, 2013.
Cals
Cals
Administrator
Administrator

Posts : 25277 Credits : 57721 Reputation : 1766
Male 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 I’️d have been right perhaps as often as seven out of ten times.”
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis

Back to top Go down

Back to top

- Similar topics

Bursa Community :: Community News

 
Permissions in this forum:
You cannot reply to topics in this forum