Stock Name: SEG
Company Name: SEG INTERNATIONAL BHD
Research House: KENANGA
Company Name: SEG INTERNATIONAL BHD
Research House: KENANGA
SEG International Bhd's (SEGi) earnings forecast for the financial year 2011 has been increased further by 11.5 per cent to RM66.8 million and by nine per cent to RM85 million for next year on additional income, following the establishment of a nursing faculty at its Kota Damansara campus, says Kenanga Research.
"We are positive over the developments at Segi as it will bring additional income for the company," the research firm said in a note today.
Kenanga said SEGi and South Korea’s Chung Cheong University will jointly establish the SEGi–Chung Cheong International Nursing Faculty in Malaysia.
It said the management expects to get about 300 students from Chung Cheong and this will result in almost RM7 million in extra revenue for SEGi in the first year and more in the following year.
Following the earnings revision, Kenanga is also revising the target price to RM3.83 from RM3.40 previously while maintaining a "buy" recommendation on SEGi. - BERNAMA
"We are positive over the developments at Segi as it will bring additional income for the company," the research firm said in a note today.
Kenanga said SEGi and South Korea’s Chung Cheong University will jointly establish the SEGi–Chung Cheong International Nursing Faculty in Malaysia.
It said the management expects to get about 300 students from Chung Cheong and this will result in almost RM7 million in extra revenue for SEGi in the first year and more in the following year.
Following the earnings revision, Kenanga is also revising the target price to RM3.83 from RM3.40 previously while maintaining a "buy" recommendation on SEGi. - BERNAMA
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