February 24, 2012

AXIATA - Dividend payout raised

Stock Name: AXIATA
Company Name: AXIATA GROUP BERHAD
Research House: HWANGDBSPrice Call: HOLDTarget Price: 5.15



Axiata; Hold; RM5.09
Price Target: RM5.15 (Prev: RM4.80); AXIATA MK

FY11 core earnings in line; 15sen DPS proposed, implying 19 sen FY11 DPS (60% payout). Short-term EBITDA margins may see pressure. Maintain Hold, TP revised higher to RM5.15.

Source: HwangDBS Research 24 Feb 2012

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