Stock Name: KGB
Company Name: KELINGTON GROUP BERHAD
Research House: KENANGA
Kenanga has initiated coverage on Kelington Group with a "buy" recommendation.
"KGB is currently RM0.76 trading at 6.7x FY10 PE higher than its IPO level atRM0.53.
"We fair valuing KGB at RM1.04 sen based on 8x PER of its FY11EPS of 13 sen. with a target price of RM0.76," noted Kenanga.
Kelington Group Bhd is principally engaged in system design, installation, equipment, control, instrumentation, quality assurance, servicing and maintenance of Ultra High Purity gas delivery system.
The group was formed in 1999 and has a strong presence in both local and abroad which saw their flagship project with SilTerra, one of the largest wafer fabricator in Malaysia in Kulim, Kedah.
Company Name: KELINGTON GROUP BERHAD
Research House: KENANGA
Kenanga has initiated coverage on Kelington Group with a "buy" recommendation.
"KGB is currently RM0.76 trading at 6.7x FY10 PE higher than its IPO level atRM0.53.
"We fair valuing KGB at RM1.04 sen based on 8x PER of its FY11EPS of 13 sen. with a target price of RM0.76," noted Kenanga.
Kelington Group Bhd is principally engaged in system design, installation, equipment, control, instrumentation, quality assurance, servicing and maintenance of Ultra High Purity gas delivery system.
The group was formed in 1999 and has a strong presence in both local and abroad which saw their flagship project with SilTerra, one of the largest wafer fabricator in Malaysia in Kulim, Kedah.
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