- Maintain Hold, TP unchanged at MYR4.05. MBM's 1H12 results were in line with our expectations but below streets' forecasts. MBM also announced first interim single-tier DPS of 3 sen, which will go ex on 24 Aug. Pending further clarity from today’s analyst briefing, we retain our Hold call on MBM with an unchanged TP of MYR4.05, pegged at 9x 2013 PER.
Source: Maybank Research - 10 August 2012
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