Stock Name: QL
Company Name: QL RESOURCES BHD
OSK Research has maintained a "buy" call for QL Resources Bhd with the fair value unchanged at RM3.62, backed by the company's solid earnings track record and an on-track expansion in Vietnam and Indonesia.
In a statement today, OSK Research said QL Resources is the biggest surimi producer in Malaysia with a 50 per cent market share.
It also said that the company plans to add another new production line for Surimi and fishmeal operations in Indonesia.
"Based on this plan, starting from financial year 2013, the company will boost its production capacity to 10,000 tonnes per annum from the present 5,0000.
"The company has also expanded its integrated livestock farming by venturing into Vietnam and Indonesia," the research firm added.
"As for its palm oil division, a new crude palm oil mill in Indonesia was completed early this year, with a palm pellet plant slated for completion by the second half 2012," the research firm said.
OSK Research said the company has planted 10,000 hectares of its oil palm estates in Indonesia and is expected to complete planting on 15,000 hectares by financial year 2014.-- BERNAMA
Company Name: QL RESOURCES BHD
| Research House: OSK | Price Call: BUY | Target Price: 3.62 |
OSK Research has maintained a "buy" call for QL Resources Bhd with the fair value unchanged at RM3.62, backed by the company's solid earnings track record and an on-track expansion in Vietnam and Indonesia.
In a statement today, OSK Research said QL Resources is the biggest surimi producer in Malaysia with a 50 per cent market share.
It also said that the company plans to add another new production line for Surimi and fishmeal operations in Indonesia.
"Based on this plan, starting from financial year 2013, the company will boost its production capacity to 10,000 tonnes per annum from the present 5,0000.
"The company has also expanded its integrated livestock farming by venturing into Vietnam and Indonesia," the research firm added.
"As for its palm oil division, a new crude palm oil mill in Indonesia was completed early this year, with a palm pellet plant slated for completion by the second half 2012," the research firm said.
OSK Research said the company has planted 10,000 hectares of its oil palm estates in Indonesia and is expected to complete planting on 15,000 hectares by financial year 2014.-- BERNAMA
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