February 28, 2012

BSTEAD - Delivering earnings and dividends

Stock Name: BSTEAD
Company Name: BOUSTEAD HOLDINGS BHD
Research House: HWANGDBSPrice Call: BUYTarget Price: 7.30



Boustead Holdings; Buy; RM5.28
Price Target: RM7.30; BOUS MK

4Q11 boosted by lower tax rate; declared final 9 sen DPS. Next key catalyst is government land redevelopment. Buy, RM7.30 TP is based on 20% discount to SOP value.

Source: HwangDBS Research 28 Feb 2012

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