SEG International: Emergence of new Substantial Shareholder?

Stock Name: SEG
Company Name: SEG INTERNATIONAL BHD

Research House: RHB

Price Call: BUY

Target Price: 2.00

SEG International: Emergence of new Substantial Shareholder?                             Outperform

News Update

-          News emerged over the weekend that Navis Capital, a private equity firm, has bought a 37.5% stake in SEGi, and is planning to buy more this week. This could possibly trigger a general offer for SEGi's remaining shares.

-          No changes to forecasts and Outperform call. Fair value maintained at RM2.00, pending the company's announcement.

Source: RHB Research - 2 April 2012