WTK ' Nothing to be excited about yet

Stock Name: WTK
Company Name: WTK HOLDINGS BHD

Research House: RHB

Price Call: HOLD

Target Price: 1.47

WTK ' Nothing to be excited about yet                                  Market Perform

Visit Note

''       For the first two months of 2012, WTK only achieved log production volume of 52k m3, which was lower by 15% yoy. Log harvesting was hampered by seasonal wet weather in Sarawak , although it seems that the seasonal effect was stronger this year. Average log prices are about US$185/m3 now, up slightly from US$180/m3 in Dec 2011.

''       Fair value is revised to RM1.47 (from RM1.50) based on unchanged target PER of 9x FY12 EPS of 16.4 sen. Maintain Market Perform.

Source: RHB Research - 28 March 2012