February 27, 2012

PETDAG - Result in line, but fragile outlook

Stock Name: PETDAG
Company Name: PETRONAS DAGANGAN BHD
Research House: HWANGDBSPrice Call: HOLDTarget Price: 15.20



Petronas Dagangan; Hold; RM18.00
Price Target: RM15.20; PETD MK

Dec11 quarter's RM222m profit was in line. Declared 15sen and special 35sen DPS, translating to net yield of 2.1%. Maintain Hold and RM15.20 TP, pegged to 16x CY12 EPS. Our FY12F net DPS of 75 implies yield of 4.2%.

Source: HwangDBS Research 27 Feb 2012

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