RHB Research maintains Neutral on Hai-O, ups fair value to RM2.73

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KUALA LUMPUR (June 26): RHB Research has maintained its Neutral rating on Hai-0 Enterprise Bhd at RM2.53 with a higher fair value (FV) of RM2.73 (from RM2.60) and said Hai-O’s FY14 results were within consensus and our forecasts.

In a note Thursday, the research house said Hai-O’s sales and core net profit were weaker, due to lower sales across the board.

“A final single-tier dividend of 10 sen per share was proposed this quarter.

“We adjust our FV to RM2.73 from RM2.60, as we roll over our valuation to CY15. Maintain Neutral,” it said.