Stock Name: GENP
Company Name: GENTING PLANTATIONS BERHAD
KUALA LUMPUR: Genting Plantation Bhd is expected to see a strong growth in revenue for the financial years ending 2013 and 2014,
with contribution from planted areas in Indonesia, says JF Apex Securities.
The research house said Genting Plantation is having some 29,413 ha of planted area in that country, which is an increase of 66 per cent compared to 2009.
It also believed that Genting Plantation could sustain its high profit before tax (PBT) margin in the coming years mainly attributable to effective cost management.
In another development, Johor Premium Outlet (JPO), the joint venture between Genting Plantation and Premium Outlets, was launched in December 2011.
"We expect earnings contribution from JPO to be between one per cent and two per cent per annum in 2012 financial year's net profit and we understand that the second JPO is in the pipeline to be established in the near future.
"We expect total earnings contribution from JPO at between five per cent and eight per cent per annum by then," it said.
The research house has a "Sell" recommendation for the stock with a target price of RM8.14. - Bernama
Company Name: GENTING PLANTATIONS BERHAD
| Research House: JF APEX | Price Call: SELL | Target Price: 8.14 |
KUALA LUMPUR: Genting Plantation Bhd is expected to see a strong growth in revenue for the financial years ending 2013 and 2014,
with contribution from planted areas in Indonesia, says JF Apex Securities.
The research house said Genting Plantation is having some 29,413 ha of planted area in that country, which is an increase of 66 per cent compared to 2009.
It also believed that Genting Plantation could sustain its high profit before tax (PBT) margin in the coming years mainly attributable to effective cost management.
In another development, Johor Premium Outlet (JPO), the joint venture between Genting Plantation and Premium Outlets, was launched in December 2011.
"We expect earnings contribution from JPO to be between one per cent and two per cent per annum in 2012 financial year's net profit and we understand that the second JPO is in the pipeline to be established in the near future.
"We expect total earnings contribution from JPO at between five per cent and eight per cent per annum by then," it said.
The research house has a "Sell" recommendation for the stock with a target price of RM8.14. - Bernama
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