KUALA LUMPUR: Timber stocks chalked up hefty gains in late afternoon trade on Tuesday, as investors viewed the stocks would benefit from the reCONSTRUCTION [] of buildings damaged in the Japan earthquake more than two weeks ago.
At 3.56pm, Ta Ann rose 55 sen to RM7.04, Subur Tiasa 45 sento Rm3.89, Jaya Tiasa 35 sen to RM6.51, WTK 27 sen to RM2.11 and Lingui 20 sen to RM1.97.
The FBM KLCI rose 4.42 points to 1,518.67. Turnover was 1.37 billion shares valued at RM1.56 billion. Advancing counters beat decliners 450 to 288 while 277 stocks were unchanged.
RHB Research Institute said due to the favourable outlook for the timber sector after the Japan earthquake, it has upgraded its target PER for the timber division to 14 times CY11 earnings.
'In addition, despite the recent downgrade in our PLANTATION [] sector valuation targets, we are keeping our target PER of 13x CY11 earnings for the plantation division due to the significant growth in FFB production volume projected over the next few years,' it said.
At 3.56pm, Ta Ann rose 55 sen to RM7.04, Subur Tiasa 45 sento Rm3.89, Jaya Tiasa 35 sen to RM6.51, WTK 27 sen to RM2.11 and Lingui 20 sen to RM1.97.
The FBM KLCI rose 4.42 points to 1,518.67. Turnover was 1.37 billion shares valued at RM1.56 billion. Advancing counters beat decliners 450 to 288 while 277 stocks were unchanged.
RHB Research Institute said due to the favourable outlook for the timber sector after the Japan earthquake, it has upgraded its target PER for the timber division to 14 times CY11 earnings.
'In addition, despite the recent downgrade in our PLANTATION [] sector valuation targets, we are keeping our target PER of 13x CY11 earnings for the plantation division due to the significant growth in FFB production volume projected over the next few years,' it said.
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