Saturday, 6 February 2010

OSK Research up Hai-O TP to RM10.55

OSK Research up Hai-O TP to RM10.55
Written by OSK Research
Friday, 05 February 2010 08:54

KUALA LUMPUR: OSK Research is maintaining a Buy on Hai-O with a higher target price of RM10.55.

It had recently hosted a corporate presentation by Hai-O which was attended by fund managers who raised questions relating to
  • the company’s MLM’s expansion to Indonesia, and
  • its new TECHNOLOGY [] venture.

"We gather that
  • Hai-O’s MLM operations here and in Indonesia are proceeding smoothly, and
  • that there are good prospects for its technology division.
  • We also see ongoing expansion for the group’s retail business,"
it said on Friday, Feb 5.

OSK Research said as it believed its earnings forecast had been overly conservative previously, it was raising its FY09, FY10 and FY11 earnings by 15%-18%.

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