Buy maintained. That management has chosen to further reward
shareholders with a special dividend is a pleasant, though not entirely
surprising move. In fact, we see the potential for more capital
management going forward, and thus, maintain a Buy on this stock for its
resilient earnings and attractive net dividend yield of 9.8%. Our
DCF-based TP is raised to RM13.00 from RM11.50.
Maybank research (13 December 2011)
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