Stock Name: IOICORP
Company Name: IOI CORPORATION BHD
IOI Corporation; Hold; RM5.33
Price Target: RM5.50; IOI MK
Excluding translation FX gains and fair value changes, 2QFY12 profit (RM534.7m) beat our expectations. Stripping out fair value losses from derivatives contracts, Manufacturing profit grew 12.5% q-o-q; Plantations profit fell 17% on seasonally lower FFB output. Declared 7 sen DPS, payable on 29 March. Maintain Hold call and RM5.50 TP.
Source: HwangDBS Research 24 Feb 2012
Company Name: IOI CORPORATION BHD
| Research House: HWANGDBS | Price Call: HOLD | Target Price: 5.50 |
IOI Corporation; Hold; RM5.33
Price Target: RM5.50; IOI MK
Excluding translation FX gains and fair value changes, 2QFY12 profit (RM534.7m) beat our expectations. Stripping out fair value losses from derivatives contracts, Manufacturing profit grew 12.5% q-o-q; Plantations profit fell 17% on seasonally lower FFB output. Declared 7 sen DPS, payable on 29 March. Maintain Hold call and RM5.50 TP.
Source: HwangDBS Research 24 Feb 2012
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