Luxchem Corporation Berhad was incorporated on 4 September 1991. It was listed in Bursa Malaysia Main Market on 27th June 2008 at an IPO price of RM1.10. The shares price drop to below 60 sen in the same year but start to recover in 2009.
The main activities of Luxchem are manufacturing and trading of unsaturated polyester resin and related products. They are also involved in importation and distribution of chemical and pertochemical products. Three of Luxchem’s subsidiaries are ISO9001:2000 certified.
Unfortunately, there is no coverage by research house on Luxchem for the latest Fair Value/Target Price. The last done was from CIMB Retail Research in July 2010 whose make a sell recommendation with a target price of RM1.15.
Tambun Indah Land is a property developer based in Penang and it was listed on Main Market on 18th January 2011 at an IPO price of RM0.70. On listing day, share price hits RM0.865 but since then the price dwindling down to below its IPO price. On 23rd March 2011, share price close at RM0.675.
Fair Value/Target Price for Tambun by two research houses, RHB Research & Jupiter are at RM0.81 and RM0.95 respectively. However, the forecast may be not so accurate for a newly listed stock.
One interesting fact about Tambun is, they expected to pay high dividend to the shareholders. From IPO prospectus, Tambun have a dividend payout ratio policy in between 40% to 60% of the net profit.
OSK still maintain year-end 1680-pt KLCI target. However, they note that there are increasing market volatility in the short term. Investors with a lower risk appetite and shorter investment horizon may want to focus on defensive and dividend yielding plays.
OSK Top 10 Defensive Buys, which have dividend yields exceeding 4%, are from a broad range of sectors including Consumer, Healthcare, Media and Logistics.
OSK Top 10 Defensive Stocks Picks are,