Stock Name: TAANN
Company Name: TA ANN HOLDINGS BHD
Research House: AMMB
Company Name: TA ANN HOLDINGS BHD
Research House: AMMB
AmResearch has maintained a "neutral" call on the timber sector and "hold" on Jaya Tiasa Holdings Bhd as well as Ta Ann Holdings Bhd with a fair value of RM7.11 per share and RM7.10 per share
respectively.
AmResearch in a research note today said a further sector earnings upgrade appears to be unlikely due to the tight supply of logs despite an expected increase in demand from Japan.
It said the supply of logs may not be able to keep up with the
anticipated increase in demand from Japan, as individual company's were limited by the concession hectarage.
For Ta Ann Holdings, it said the company's net profit for the financial year 2011 was projected to rise by 56 per cent to RM120 million from RM77.2 million in the financial year 2010.
Its domestic log production is expected to increase by 13 per cent to 500,000 cubic meters in the current financial year from 442,334 cubic meters previously, AmResearch said.
Meanwhile, it said Jaya Tiasa's financial year 2011 net profit was forecast to surge to RM127 million from RM24.4 million previously.
Earnings per share is projected at 46.7 sen for Ta Ann Holdings and 47.4 sen for Jaya Tiasa with gross dividend yield per share offered at 2.2 per cent by Ta Ann Holdings and at least 0.5 per cent by Jaya Tiasa. --Bernama
respectively.
AmResearch in a research note today said a further sector earnings upgrade appears to be unlikely due to the tight supply of logs despite an expected increase in demand from Japan.
It said the supply of logs may not be able to keep up with the
anticipated increase in demand from Japan, as individual company's were limited by the concession hectarage.
For Ta Ann Holdings, it said the company's net profit for the financial year 2011 was projected to rise by 56 per cent to RM120 million from RM77.2 million in the financial year 2010.
Its domestic log production is expected to increase by 13 per cent to 500,000 cubic meters in the current financial year from 442,334 cubic meters previously, AmResearch said.
Meanwhile, it said Jaya Tiasa's financial year 2011 net profit was forecast to surge to RM127 million from RM24.4 million previously.
Earnings per share is projected at 46.7 sen for Ta Ann Holdings and 47.4 sen for Jaya Tiasa with gross dividend yield per share offered at 2.2 per cent by Ta Ann Holdings and at least 0.5 per cent by Jaya Tiasa. --Bernama
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