February 23, 2012

KLK - Weak oleochemical margins

Stock Name: KLK
Company Name: KUALA LUMPUR KEPONG BHD
Research House: HWANGDBSPrice Call: HOLDTarget Price: 24.00



KL Kepong; Hold; RM23.64
Price Target: RM24.00; KLK MK

1QFY12 core profit was within expectations. Plantation posted solid profit, but that was offset by weak
manufacturing margins. Maintain Hold and RM24.00 TP.

Source: HwangDBS Research 23 Feb 2012

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