Target Price Compilation

KNM Fair Value/Target Price Compilation, Jun 2011


KNM shares price has been beaten again recently due to lower than expected earnings for first quarter ending 31st March 2011. On 30th May 2011 KNM share price closed at RM2.10.

This is the second time this year, KNM share price drop drastically. In February 2011, the price drop from RM2.80 to RM2.30 due to lowest recorded profit. But the price recover to RM2.85 in 2 weeks.

Despite the negative news, many research houses are still maintaining a “buy” call for KNM because their order book is still strong. They believe, it is a good opportunity to accumulate KNM share due to lower share price.

The table below are the compilation of KNM fair value /  target price various research house.

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Masterskill, Fair Value/Target Price Compilation & Dividend Yield


Masterskill Education Group Berhad (MEGB, 5166) was incorporated in1997. It was listed in Bursa Malaysia Main Market on 18th May 2010 at an IPO price of RM3.80. The shares price drop to below RM1.70 in March 2011 due to heavy share disposal by their foreign investor.

Regardless, on why foreign investors decided to dispose their shares, MEGB has a recession proof business with a good growth prospect.

They are going to pay good dividend yield too. In the IPO prospectus, MEGB specify that they intend to pay in between 50% to 60% from net profit as dividend. For financial year end 31st December 2010, they keep their promise and pay 60% of net profit as dividend. This translate to 14.9 sen & dividend yield of 7.2 %. This clearly more than double of current fixed deposit rate. Share price recover improve after 2010 final dividend announcement.

There are a few research house make buy recommendation for MEGB. The table below are the latest fair value or target price.

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Tambun Fair Value/Target Price and Dividend Yield


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.

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Sunway Fair Value/Target Price Compilation, March 2011

Sunway Holdings

In March 2011, Sunway Holdings was awarded two contracts worth RM332 million. The contracts are RM74.1 million construction of central utilities facility at Biotechnological Park BioXCell and RM258m job for the construction of the Legoland Theme Park. Both contracts are located in Iskandar, Johor.

Another interesting news is regarding the merger between Sunway Holdings and Sunway City. The EGM to vote on the merger is expected to be held sometime in April. If the proposal goes through, the merged entity should be listed in July or August 2011.

Many research houses are calling “buy” for Sunway Holdings. The table below are the target price for Sunway from various research house. The last traded price was RM2.19.

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KNM Fair Price/Target Price Compilation, March 2011


KNM shares price has been beaten recently due to its net profit fell to its lowest level in five year. On 2nd March KNM closed at RM2.34

However, many research houses are still maintaining a “buy” call for KNM on the positive sentiment that its current fiscal year would be better than 2010.

The table below are the target price for KNM from various research house.

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