Stock Name: MPHB
Company Name: MULTI-PURPOSE HOLDINGS BHD
More asset disposals to come? We understand that TheEdge report on Plaza Magnum (PM) potentially being sold is not without basis. Also, Multi-Purpose Holdings' (MPHB) 33% stake in Philippines Racing Club could be sold, and part of the proceeds may be distributed as special dividends. MPHB may also pay higher recurring dividends in 2012 after degearing. Earnings estimates trimmed by 6%-7% on higher tax rates. Maintain Buy with a lower RM3.54 SOP based TP (-3%).
Maybank Research 9 Feb 2012
Click here for full report
Company Name: MULTI-PURPOSE HOLDINGS BHD
| Research House: MAYBANK | Price Call: BUY | Target Price: 3.54 |
More asset disposals to come? We understand that TheEdge report on Plaza Magnum (PM) potentially being sold is not without basis. Also, Multi-Purpose Holdings' (MPHB) 33% stake in Philippines Racing Club could be sold, and part of the proceeds may be distributed as special dividends. MPHB may also pay higher recurring dividends in 2012 after degearing. Earnings estimates trimmed by 6%-7% on higher tax rates. Maintain Buy with a lower RM3.54 SOP based TP (-3%).
Maybank Research 9 Feb 2012
Click here for full report
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