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Tuesday, February 28, 2012
HLBANK - Merger synergies materialising
Hong Leong Bank; Buy; RM11.70 Price Target: RM16.00; HLBK MK
2QFY12/6MFY12 results were in line, driven by strong loan recoveries. Declared interim 11sen DPS (less 25% tax). Maintain Buy and RM16.00 TP.
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