Bursa Malaysia Stock Watch

This site provides consolidated Bursa Malaysia stock market research, analysis, news and blogs from various sources. You can search and find all the past analysis and coverage on stocks and news by searching within this site. While this blog re-publishes contents from other sites, it does not own the rights nor responsible for the accuracy of the contents. If you disagree to your content from being published here, please add a comment, and your article will be removed from this site.

Friday, August 17, 2012

TSH Resources: Maintain Hold - Stressed crops stressing earnings

Lukewarm 2Q12. We forecast a flat QoQ 2Q12 net profit for TSH at MYR15m (-58% YoY) as FFB production (mainly Sabah estates) undershot our estimates.
We cut our 2012 net profit forecast by 20% on lowered FFB growth assumption of 4% (previously 18%). Reiterate HOLD on TSH but we lower our TP to MYR2.35 (from MYR2.50) on unchanged 15x 2013 PER.
Upside to earnings could emanate from its ongoing takeover offer of Pontian United Plantations.

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Source: Maybank Research - 17 August 2012

Bursa Malaysia Stock Watch

Friday, August 17, 2012

TSH Resources: Maintain Hold - Stressed crops stressing earnings

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