KUALA LUMPUR (March 16) : TA Securities Holdings Bhd is maintaining its estimates for EP MANUFACTURING BHD [] (EPMB) after news reports, quoting sources, indicate that the company is acquiring the 26km Maju Expressway for RM1.7 billion.
In a note on Friday, TA said it is keeping its Buy recommendation and fair value of RM1.11 for EPMB shares after maintaining its earnings forecast for the company.
“We shall review our earnings projections once an announcement is made later today,” TA said.
The research firm said the price tag of RM1.7 billion for the expressway is believed to be the enterprise value for the concession.
Trading of EPMB shares has been suspended from Thursday to Friday to accommodate an announcement on the “company’s intention to enter into an acquisition agreement which will result in the significant change of business direction of the company,” EPMB told the exchange.
The stock was last traded at RM1.12 on Wednesday.
In a note on Friday, TA said it is keeping its Buy recommendation and fair value of RM1.11 for EPMB shares after maintaining its earnings forecast for the company.
“We shall review our earnings projections once an announcement is made later today,” TA said.
The research firm said the price tag of RM1.7 billion for the expressway is believed to be the enterprise value for the concession.
Trading of EPMB shares has been suspended from Thursday to Friday to accommodate an announcement on the “company’s intention to enter into an acquisition agreement which will result in the significant change of business direction of the company,” EPMB told the exchange.
The stock was last traded at RM1.12 on Wednesday.
