Booking.com

Booking.com

Favorite Links

Friday, January 3, 2014

MKH could double in value

Source: http://www.btimes.com.my/Current_News/BTIMES/articles/mkh2/Article/

MKH Bhd (formerly known as Metro Kajang Holdings) could see its value double this year.

Its share price surged yesterday, boosted by a report from Hwang DBS Research unit valuing the company at twice as much as its 2013 closing price of RM2.69.

MKH, a niche township developer in Kajang, has a 25-year unblemished profit track record.

Executive chairman Tan Sri Alex Chen Kooi Chiew drove the company into the plantation business in 2008, making East Kalimantan the home base for its plantation division.

The company has a 15,900ha oil palm estate in East Kalimantan and is looking to acquire an additional 20,000ha in the same area.

According to Hwang DBS, the plantation business helped increase core profit in 2013 by 96 per cent. Up to the nine months ended August 31 2013, MKH's net profit attributable to shareholders was up by 124.3 per cent year-on-year to RM47.1 million from RM21 million.

Hwang DBS values MKH at RM5.40 a share, noted even as this price, it remains the cheapest proxy to the plantation sector.

No comments:

Post a Comment