External broker reports(aggregated public sources), Hong Leong Investment Bank Berhad

Hong Leong Investment Bank Berhad

External broker reports(aggregated public sources)

Hong Leong Investment Bank Berhad operates as an investment banking company. The Company provides debt and equity funding, private debt securities issuance, merger and acquisitions, initial public offerings, corporate restructuring, and stockbroking services. 

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Equity Bottom-Up

<ul><li>We derive a fair value of RM1.31 for Teo Seng based on 6x projected FY24 core EPS of 21.8 sen.</li><li>We believe a re-rating on Teo Seng is warranted, given its strong earnings prospects, healthy balance sheet and its commitment to resume on dividend payment.</li><li>We project Teo Seng’s stellar financial performance in 1Q23 to sustain into the remaining quarters of FY23, underpinned by higher egg production volume and government subsidies for egg (which we assume will remain until end-3Q23).</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

We derive a fair value of RM1.31 for Teo Seng based on 6x projected FY24 core EPS of 21.8 sen.We believe a re-rating on Teo Seng is warranted, given its strong earnings prospects, healthy balance sheet and its commitment to resume on dividend payment.We project Teo Seng’s stellar financial performance in 1Q23 to sustain into the remaining quarters of FY23, underpinned by higher egg production volume and government subsidies for egg (which we assume will remain until end-3Q23).Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Teo Seng Capital - Egg-Citing near Term Earnings Prospects

Malaysia

Teo Seng Capital Bhd. is an investment holding company principally involved in poultry farming. The Company is also involved in the manufacture and marketing of paper egg trays and animal feeds, along with the distribution of animal health products.

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Teo Seng Capital (TSCB MK)

Teo Seng Capital - Egg-Citing near Term Earnings Prospects

We believe a re-rating on Teo Seng is warranted, given its strong earnings prospects, healthy balance sheet and its commitment to resume on...

Hong Leong Investment Bank Berhad

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