April 13, 2012

ZHULIAN - Meeting expectations

Stock Name: ZHULIAN
Company Name: ZHULIAN CORPORATION BHD
Research House: HWANGDBSPrice Call: BUYTarget Price: 2.30



Zhulian Corp; Buy; RM1.90
Price Target: RM2.30; ZHCB MK

1Q12 result was within expectation; declared 1st interim single-tier 3 sen DPS. Expect FY12F to post record high earnings despite fragile global economy. Maintain Buy and RM2.30 TP.

Source: HwangDBS Research - 13 April 2012

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