Friday, June 7, 2013

SKP RESOURCES BHD (7155)

TA Securities Update :
Current Price RM0.32
Target Price RM0.65

Valuation
As we roll forward our valuation base year to CY14, we raise the target price to RM0.65/share ( from RM0.50/share previously) , based on unchanged 10X PE multiple. We continue to like SKPRes given its positive earnings prospect and solid cash position in supporting of div yield of above 7% in the future.......