February 27, 2012

MPHB - Capital management improving

Stock Name: MPHB
Company Name: MULTI-PURPOSE HOLDINGS BHD
Research House: HWANGDBSPrice Call: BUYTarget Price: 3.40



Multi-Purpose Holdings; Buy; RM2.80
Price Target: RM3.40 (Prev RM3.30); MPU MK

Results below expectations, 2012-13F earnings cut by 9-3%. Continued disposal of non-core assets could see dividend payout rise further and healthier gearing. Maintain Buy, TP raised to RM4.30.

Source: HwangDBS Research 27 Feb 2012

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