Stock Name: UMW
Company Name: UMW HOLDINGS BHD
OSK Research upped its fair value on Malaysia's autos-to-oil and gas firm UMW Holdings Bhd to RM8.38 a share from RM7.88, citing stronger margins and significant turnaround profits from the group's oil and gas division.
"We see the group's oil and gas division making a significant turnaround profits this year," the broker said in a research note on Monday.
OSK said UMW's oil and gas earnings were expected to jump significantly this year to 138 million Malaysian ringgit, versus a core loss of 8.9 million in 2011, due to higher utilisation of its oil and gas pipe plants in India and China.
As of 0243 GMT, UMW's shares dropped 0.13 percent against the Malaysian benchmark stock index which dropped 0.29 percent. -- Reuters
Company Name: UMW HOLDINGS BHD
| Research House: OSK | Price Call: BUY | Target Price: 8.38 |
OSK Research upped its fair value on Malaysia's autos-to-oil and gas firm UMW Holdings Bhd to RM8.38 a share from RM7.88, citing stronger margins and significant turnaround profits from the group's oil and gas division.
"We see the group's oil and gas division making a significant turnaround profits this year," the broker said in a research note on Monday.
OSK said UMW's oil and gas earnings were expected to jump significantly this year to 138 million Malaysian ringgit, versus a core loss of 8.9 million in 2011, due to higher utilisation of its oil and gas pipe plants in India and China.
As of 0243 GMT, UMW's shares dropped 0.13 percent against the Malaysian benchmark stock index which dropped 0.29 percent. -- Reuters
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