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发表于 16-8-2010 05:33 PM
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from PBB
According to media reports, Berjaya Corporation (BCorp) (BC MK, MYR1.07)
has agreed to divest part of its 70% stake in Inter-Pacific Securities (IPS) to
Singapore’s Kim Eng Holdings Ltd (KEH SP, SGD1.70, Not Ranked). While
pricing details were not mentioned, it is believed that the deal would be in
the form of a cash and share swap and a due diligence process is ongoing.
We think that the deal, if it materializes, could be mutually beneficial, as it
will allow IPS to tap into Kim Eng Securities’ vast regional network, while
Kim Eng will be able to build up its presence in Malaysia. No change to our
earnings forecast. We maintain our Strong Buy recommendation and 12-
month target price of MYR2.20. / Kum Seng, Wan |
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