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RHB Research maintains Buy on Scientex, fair value RM7.19

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RHB Research maintains Buy on Scientex, fair value RM7.19 Empty RHB Research maintains Buy on Scientex, fair value RM7.19

Post by Cals Sat 21 Jun 2014, 03:48

RHB Research maintains Buy on Scientex, fair value RM7.19
Business & Markets 2014
Written by theedgemalaysia.com   
Friday, 20 June 2014 08:04

KUALA LUMPUR (June 20): RHB Research has maintained its Buy rating on Scientex Bhd at RM5.81 with a fair value (FV) of RM7.19 and said Scientex’s 9MFY14 core earnings of RM100.2 million were within house and consensus estimates, at 69.9% and 68.6% of the respective full year forecasts.
In a note Friday, the research house said Scientex declared an interim dividend per share (DPS) of 8 sen.
“We expect the company to declare a final DPS of 19.0 sen following the release of its 4QFY14 results, based on its policy of paying a minimum 30% of earnings as dividend. Its net gearing currently stands at a relatively sturdy 0.41x.
“We continue to like Scientex’s: i) fast-expanding plastic film manufacturing segment, ii) reputable brand name in the property market in Malaysia’s southern region, and iii) committed management team under the founding Lim family,” it said.
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