Stock Name: CBIP
Company Name: CB INDUSTRIAL PRODUCT HOLDING
Eyes unto the Cash Shariah-compliant
Within expectation. CBIP's 3Q11 core net profit RM27m (+37.5%YoY; 14% QoQ) brings 9M11 net profit to RM73m (+63% YoY), withinour expectation but ahead of consensus. Earnings growth post disposalof two of its estates (target for completion in Dec 2011) appears to belackluster, in our view. Maintain Hold with an unchanged TP of RM3.54based on 7x 2013 PER pending greater clarity on the utilization of itscash proceeds of RM268m; its potential next key catalyst.
Maybank research (18 November 2011)
Click here for full report ''
Company Name: CB INDUSTRIAL PRODUCT HOLDING
| Research House: MAYBANK | Price Call: HOLD | Target Price: 3.96 |
Eyes unto the Cash Shariah-compliant
Within expectation. CBIP's 3Q11 core net profit RM27m (+37.5%YoY; 14% QoQ) brings 9M11 net profit to RM73m (+63% YoY), withinour expectation but ahead of consensus. Earnings growth post disposalof two of its estates (target for completion in Dec 2011) appears to belackluster, in our view. Maintain Hold with an unchanged TP of RM3.54based on 7x 2013 PER pending greater clarity on the utilization of itscash proceeds of RM268m; its potential next key catalyst.
Maybank research (18 November 2011)
Click here for full report ''
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