Friday 29 Mar 2024
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KUALA LUMPUR (March 11): AmResearch Sdn Bhd has initiated coverage on Teo Seng Capital Bhd (TSC) with a “Buy” rating and fair value of RM2.40.

In  a note Wednesday, the research house said TSC was a Shariah-compliant stock.

“TSC is a well-managed modern poultry farmer focusing primarily on the production of eggs.

“With a daily output of 3.1 million eggs, it is the third largest egg producer in Malaysia. About one-third of its production is exported to Singapore,” it said.

AmResearch said TSC lacks an institutional following as it was presently under-researched.

“We believe that this would change given improved corporate access, steady earnings and dividend track record,” it said.

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