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MSM extends gains
by hlk Wed 29 Jun 2011, 11:52
KUALA LUMPUR: Sugar refiner and distributor MSM Holdings Bhd continued to be in focus on Wednesday, June 29 and extended its gains as it was actively traded.
At 9.15am, MSM was up six sen to RM4.95 with 3.93 million shares traded.
The stock made an impressive debut on the Main Market of Bursa Malaysia on Tuesday and closed RM1.39 higher to RM4.89 with 101.19 million shares traded.
AmResearch has valued MSM at RM4.53 per share based on a price earnings ratio (PER) of 10 times financial year 2012 earnings per share. Its PER of 10 times is about 23% below the regional average PER of 13 times ex-Japan and Australia.
The research house said MSM was expected to be a high dividend-yielding stock. It added the group’s estimated FY11 to FY12 dividend yields of 6% to 7% (based on the IPO price of RM3.50) would be higher than most of the consumer and numbers forecast operator companies.
It said MSM plans to pay out 50% of its net profit as dividends every year.
At 9.15am, MSM was up six sen to RM4.95 with 3.93 million shares traded.
The stock made an impressive debut on the Main Market of Bursa Malaysia on Tuesday and closed RM1.39 higher to RM4.89 with 101.19 million shares traded.
AmResearch has valued MSM at RM4.53 per share based on a price earnings ratio (PER) of 10 times financial year 2012 earnings per share. Its PER of 10 times is about 23% below the regional average PER of 13 times ex-Japan and Australia.
The research house said MSM was expected to be a high dividend-yielding stock. It added the group’s estimated FY11 to FY12 dividend yields of 6% to 7% (based on the IPO price of RM3.50) would be higher than most of the consumer and numbers forecast operator companies.
It said MSM plans to pay out 50% of its net profit as dividends every year.
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