Stock Name: KLK
Company Name: KUALA LUMPUR KEPONG BHD
Company Name: KUALA LUMPUR KEPONG BHD
| Research House: ECMLIBRA | Price Call: HOLD | Target Price: 24.95 |
HOLD, TP: RM24.95
KL Kepong has disposed of its wholly owned subsidiary CE Holdings Ltd which is the investment holding company of the brand name 'Crabtree & Evelyn' for a consideration of US$155m (RM465m). We view this news positively as the retailing segment has proven to be a drag on the company, and this would also allow KLK to focus on its core businesses mainly plantations and manufacturing. We upgrade our TP from RM24.59 to RM24.95 and maintain our HOLD call.
KL Kepong has disposed of its wholly owned subsidiary CE Holdings Ltd which is the investment holding company of the brand name 'Crabtree & Evelyn' for a consideration of US$155m (RM465m). We view this news positively as the retailing segment has proven to be a drag on the company, and this would also allow KLK to focus on its core businesses mainly plantations and manufacturing. We upgrade our TP from RM24.59 to RM24.95 and maintain our HOLD call.
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