Stock Name: EPIC
Company Name: EASTERN PACIFIC IND. CORP
KUALA LUMPUR: Eastern Pacific Industrial Corp Bhd shares rose in early trade on Monday, August 1 after Maybank IB Research said the company's results, expected to be released in mid August, were projected to be stronger year-on-year (y-o-y) with earnings growth of 10-12%.
At 9.20am, EPIC rose five sen to RM2.85 with 64,000 shares traded.
Maybank IB said in a note August 1 that a 5 sen interim dividend (+100% y-o-y) could be declared as it estimated that EPIC has about RM100 million cash on its balance sheet (60 sen per share) and should enjoy solid cash-flows going forward.
'We maintain our Hold call but nudge up our TP to RM2.70 (+6%) as we roll forward our valuation basis to 2012 with an unchanged 8x PE multiple,' it said.
Company Name: EASTERN PACIFIC IND. CORP
| Research House: MAYBANK | Price Call: HOLD | Target Price: 2.70 |
KUALA LUMPUR: Eastern Pacific Industrial Corp Bhd shares rose in early trade on Monday, August 1 after Maybank IB Research said the company's results, expected to be released in mid August, were projected to be stronger year-on-year (y-o-y) with earnings growth of 10-12%.
At 9.20am, EPIC rose five sen to RM2.85 with 64,000 shares traded.
Maybank IB said in a note August 1 that a 5 sen interim dividend (+100% y-o-y) could be declared as it estimated that EPIC has about RM100 million cash on its balance sheet (60 sen per share) and should enjoy solid cash-flows going forward.
'We maintain our Hold call but nudge up our TP to RM2.70 (+6%) as we roll forward our valuation basis to 2012 with an unchanged 8x PE multiple,' it said.
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