Stock Name: POS
Company Name: POS MALAYSIA BHD
Research House: OSK
Company Name: POS MALAYSIA BHD
Research House: OSK
OSK Research Sdn Bhd has maintained its "buy" call, with a fair value of RM4.12, on Pos Malaysia Bhd based on a sum-of-parts valuation and existing earnings forecast.
In a research note today, it said Pos Malaysia has declared a one-off final and special dividend of 17.5 sen, which provided a dividend yield of 5.7 per cent.
Meanwhile, OSK said the unveiling of Pos Malaysia's strategic partnership remained a key catalyst as it may be timed to coincide with measures to unlock the value of its land bank.
"Although management has met the bidders to acquire its 32.2 per cent stake in the company, they will only present their proposals to Khazanah Nasional Bhd and Pos Malaysia's management would not know what these are at this juncture," it added .
In a recent announcement, Khazanah Nasional Bhd said it had shortlisted DRB-Hicom Bhd, Nationwide Express Courier Services and a Amanah REIT-Malaysia Pacific Corp joint venture, with offers ranging between RM3.38 and RM4.62 per share.
"Pos Malaysia's management expects the strategic partner to be announced by the Prime Minister during Invest Malaysia 2011 on April 12," it added. -- BERNAMA
In a research note today, it said Pos Malaysia has declared a one-off final and special dividend of 17.5 sen, which provided a dividend yield of 5.7 per cent.
Meanwhile, OSK said the unveiling of Pos Malaysia's strategic partnership remained a key catalyst as it may be timed to coincide with measures to unlock the value of its land bank.
"Although management has met the bidders to acquire its 32.2 per cent stake in the company, they will only present their proposals to Khazanah Nasional Bhd and Pos Malaysia's management would not know what these are at this juncture," it added .
In a recent announcement, Khazanah Nasional Bhd said it had shortlisted DRB-Hicom Bhd, Nationwide Express Courier Services and a Amanah REIT-Malaysia Pacific Corp joint venture, with offers ranging between RM3.38 and RM4.62 per share.
"Pos Malaysia's management expects the strategic partner to be announced by the Prime Minister during Invest Malaysia 2011 on April 12," it added. -- BERNAMA
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