February 29, 2012

ALAM - Disappointing 4Q11 earnings

Stock Name: ALAM
Company Name: ALAM MARITIM RESOURCES BHD
Research House: HWANGDBSPrice Call: HOLDTarget Price: 0.85



Alam Maritim; Hold; RM0.78
Price Target: RM0.85 (Prev RM0.90); AMRB MK

4Q11 earnings way below expectations. Cut FY12-13 earnings by 11-12%. Downgrade to Hold with revised TP of RM0.85.

Source: HwangDBS Research 29 Feb 2012

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