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RHB Research maintains Buy on Dayang, raises fair value

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RHB Research maintains Buy on Dayang, raises fair value Empty RHB Research maintains Buy on Dayang, raises fair value

Post by Cals Wed 27 Nov 2013, 10:18

RHB Research maintains Buy on Dayang, raises fair value
Business & Markets 2013
Written by theedgemalaysia.com   
Wednesday, 27 November 2013 09:31
KUALA LUMPUR (Nov 27): RHB Research has maintained its Buy rating on Sayang Enterprise Holdings Bhd (DEHB) at RM5.22 with a higher fair value of RM6.72 (from RM6.50) and said DEHB’s  9MFY13 core net profit of RM92.5 million was below expectations, at 56%/64% of house/consensus’ full-year estimates, after adjusting for a one-off income of RM32.8 million.

In a note Wednesday, the research house said it was lowering its FY13 numbers in anticipation of higher mobilisation costs in 4QFY13, but raise FY14 earnings estimate as it expect more works done from its ongoing projects.

“Buy, with a new RM6.72 fair value (from RM6.50),” it said.
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