KUALA LUMPUR: Eastern Pacific Industrial Corp Bhd shares rose in early trade on Monday, August 1 after Maybank IB Research said the company's results, expected to be released in mid August, were projected to be stronger year-on-year (y-o-y) with earnings growth of 10-12%.
At 9.20am, EPIC rose five sen to RM2.85 with 64,000 shares traded.
Maybank IB said in a note August 1 that a 5 sen interim dividend (+100% y-o-y) could be declared as it estimated that EPIC has about RM100 million cash on its balance sheet (60 sen per share) and should enjoy solid cash-flows going forward.
'We maintain our Hold call but nudge up our TP to RM2.70 (+6%) as we roll forward our valuation basis to 2012 with an unchanged 8x PE multiple,' it said.
At 9.20am, EPIC rose five sen to RM2.85 with 64,000 shares traded.
Maybank IB said in a note August 1 that a 5 sen interim dividend (+100% y-o-y) could be declared as it estimated that EPIC has about RM100 million cash on its balance sheet (60 sen per share) and should enjoy solid cash-flows going forward.
'We maintain our Hold call but nudge up our TP to RM2.70 (+6%) as we roll forward our valuation basis to 2012 with an unchanged 8x PE multiple,' it said.
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