Stock Name: MAHSING
Company Name: MAH SING GROUP BHD
Stock Name: MAHSING
Company Name: MAH SING GROUP BHD
Stock Name: MAHSING
Company Name: MAH SING GROUP BHD
Stock Name: MAHSING
Company Name: MAH SING GROUP BHD
OSK Research expects Mah Sing Group Bhd, a diversified conglomerate with core activities being in property development and plastic, to register 13.2 per cent and 6.2 per cent net profit growth for financial year 2011 and 2012 respectively, driven by a higher revenue forecast.
In a research note today, the firm said Mah Sing's net profit for 2011 and 2012 is expected to grow to RM170.9 million and RM208 million respectively on the back of a revenue forecast of RM1.491 billion this year and RM1.833 billion next year.
The forecast follows Mah Sing's announcement on Wednesday that in the first half of this year, the company had achieved total sales of RM1.24 billion, which made up more than 60 per cent of its 2011 sales target of over RM2 billion.
"The company's unbilled sales remained strong at RM1.9 billion, more than twice the revenue recognised from property division last year, which we believe will provide strong earnings visibility moving forward," the research house said.
Hong Leong Investment Bank said the future earnings visibility of Mah Sing remained high with future projects to boost the growth.
"We maintain our forecast of 22 per cent to 29 per cent earnings per share growth for financial year 2011-2013," the research house said.
In a related development, MIDF Research said Mah Sing's remaining 35 projects in the Klang Valley, Penang and Johor Baharu, which yields a combined remaining gross development value of approximately RM14.5 billion, will sustain the company's earnings for next five to seven years.
OSK Research and MIDF Research maintained their 'buy' call on Mah Sing with an unchanged fair value of RM3.01 and unchanged target price of RM2.90 respectively.
Meanwhile, Hong Leong Investment remained the 'buy' call on Mah Sing and Kenanga Research placed an 'outperform' status on the property developer with a target price of RM2.87. -- Bernama
Company Name: MAH SING GROUP BHD
| Research House: OSK | Price Call: BUY | Target Price: 3.01 |
Stock Name: MAHSING
Company Name: MAH SING GROUP BHD
| Research House: MIDF | Price Call: BUY | Target Price: 2.90 |
Stock Name: MAHSING
Company Name: MAH SING GROUP BHD
| Research House: HLG | Price Call: BUY | Target Price: 2.87 |
Stock Name: MAHSING
Company Name: MAH SING GROUP BHD
| Research House: KENANGA | Price Call: BUY | Target Price: 2.87 |
OSK Research expects Mah Sing Group Bhd, a diversified conglomerate with core activities being in property development and plastic, to register 13.2 per cent and 6.2 per cent net profit growth for financial year 2011 and 2012 respectively, driven by a higher revenue forecast.
In a research note today, the firm said Mah Sing's net profit for 2011 and 2012 is expected to grow to RM170.9 million and RM208 million respectively on the back of a revenue forecast of RM1.491 billion this year and RM1.833 billion next year.
The forecast follows Mah Sing's announcement on Wednesday that in the first half of this year, the company had achieved total sales of RM1.24 billion, which made up more than 60 per cent of its 2011 sales target of over RM2 billion.
"The company's unbilled sales remained strong at RM1.9 billion, more than twice the revenue recognised from property division last year, which we believe will provide strong earnings visibility moving forward," the research house said.
Hong Leong Investment Bank said the future earnings visibility of Mah Sing remained high with future projects to boost the growth.
"We maintain our forecast of 22 per cent to 29 per cent earnings per share growth for financial year 2011-2013," the research house said.
In a related development, MIDF Research said Mah Sing's remaining 35 projects in the Klang Valley, Penang and Johor Baharu, which yields a combined remaining gross development value of approximately RM14.5 billion, will sustain the company's earnings for next five to seven years.
OSK Research and MIDF Research maintained their 'buy' call on Mah Sing with an unchanged fair value of RM3.01 and unchanged target price of RM2.90 respectively.
Meanwhile, Hong Leong Investment remained the 'buy' call on Mah Sing and Kenanga Research placed an 'outperform' status on the property developer with a target price of RM2.87. -- Bernama
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