February 27, 2012

UMW - Unexciting outlook

Stock Name: UMW
Company Name: UMW HOLDINGS BHD
Research House: HWANGDBSPrice Call: HOLDTarget Price: 7.30



UMW Holdings; Hold; RM6.98
Price Target: RM7.30; UMWH MK

4Q11 net profit of RM50.8m was below expectations; final DPS of 7.5sen declared. Higher earnings from Automotive was offset by weaker Oil and Gas and Equipment segments. Maintain Hold with RM7.30 TP.

Source: HwangDBS Research 27 Feb 2012

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