February 24, 2012

BHIC - Lifted by higher tax credit

Stock Name: BHIC
Company Name: BOUSTEAD HEAVY INDUSTRIES CORP
Research House: HWANGDBSPrice Call: BUYTarget Price: 4.00



Boustead Heavy Industries; Buy; RM3.68
Price Target: RM4.00; BHIC MK

4Q11 result beat expectations; declared 1st interim dividend of 6 sen per share. RM9bn OPV contract to provide long-term earnings visibility. Maintain Buy rating and RM4.00 TP.

Source: HwangDBS Research 24 Feb 2012

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