KUALA LUMPUR: Eastern Pacific Industrial Corp Bhd's (EPIC) share price rose in early trade on Monday, Aug 9 on expectations that state-controlled Terengganu Inc Sdn Bhd plans to privatise its 40.13%-owned EPIC.
At 9.29am, EPIC was up 15 sen to RM2.26 with 598,300 shares done.
The FBM KLCI was up 0.08 point to 1,360.53. Turnover was 76.05 million shares valued at RM59 million.
The Edge Weekly reported Terengganu Inc approached some of the other large shareholders of EPIC to buy over their equity, which will then trigger a mandatory general offer that would ultimately lead to privatisation.
OSK Research maintains its target price for EPIC at RM2.43 based on the existing PER of 8.0 times FY11 EPS.
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'We like the company's attractive dividend yield of about 5%-6% and its net cash of RM65.8 million as at 2QFY10,' it said.
At 9.29am, EPIC was up 15 sen to RM2.26 with 598,300 shares done.
The FBM KLCI was up 0.08 point to 1,360.53. Turnover was 76.05 million shares valued at RM59 million.
The Edge Weekly reported Terengganu Inc approached some of the other large shareholders of EPIC to buy over their equity, which will then trigger a mandatory general offer that would ultimately lead to privatisation.
OSK Research maintains its target price for EPIC at RM2.43 based on the existing PER of 8.0 times FY11 EPS.
''
'We like the company's attractive dividend yield of about 5%-6% and its net cash of RM65.8 million as at 2QFY10,' it said.
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