April 4, 2013

First Land Acquisition in 2013

Stock Name: MAHSING
Company Name: MAH SING GROUP BHD
Research House: TAPrice Call: BUYTarget Price: 2.70



First land acquisition in 2013

Stock Name: MAHSING
Company Name: MAH SING GROUP BHD
Research House: MIDFPrice Call: BUYTarget Price: 2.56



Affin raises Hai-O to 'buy'

Stock Name: HAIO
Company Name: HAI-O ENTERPRISE BHD
Research House: AFFINPrice Call: BUYTarget Price: 2.98



Affin Investment Bank raised its call on Hai-O Enterprise Bhd to 'buy' from 'add', citing a bright growth outlook and strong demand for the marketing firm's products.

Affin said it also raised its target price on the shares of Hai-O to RM2.98 per share from RM2.55 on valuation.

"We understand that management has developed a successful operating strategy for its multi-level marketing division, and is currently experiencing strong rebound in membership growth," Affin said.

The research house also lifted its earnings per share forecast on Hai-O by 2-2.6 per cent for the financial years between 2013 and 2015 citing the company's new membership growth of 16 per cent and on expectations of a stronger sales performance.

"We reckon that Hai-O is a generous company and rewards its shareholders by paying out dividends of at least 50 per cent of its net profit," Affin added.

As of 10.17am, Hai-O's shares inched down 0.4 per cent against the benchmark stock index's 0.2 per cent loss.-- Reuters