Stock Name: TCHONG
Company Name: TAN CHONG MOTOR HOLDINGS BHD
Good for plant utilisation but Neutral to earnings. TCM's contract assembly works for the Subaru marque, catering for the ASEAN market, will lift its Segambut plant utilisation from 2013 onwards but will only contribute marginally to earnings, we estimate. Maintain Sell, with an unchanged TP of 4.00, based on 8x 2013 PER.
Maybank Research 7 March 2012
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Company Name: TAN CHONG MOTOR HOLDINGS BHD
| Research House: MAYBANK | Price Call: SELL | Target Price: 4.00 |
Good for plant utilisation but Neutral to earnings. TCM's contract assembly works for the Subaru marque, catering for the ASEAN market, will lift its Segambut plant utilisation from 2013 onwards but will only contribute marginally to earnings, we estimate. Maintain Sell, with an unchanged TP of 4.00, based on 8x 2013 PER.
Maybank Research 7 March 2012
Click here for full report
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