Thursday, February 7, 2013

China Minzhong

China Minzhong: Maybank-KE maintains Buy with $1.16 TP. House anticipating a set of good results in 2Q13with revlikely to post robust growth due to more favourable weather conditions this year. Although house concerned about possible margin compression, believe Minzhong will still be able to achieve 10-15% bottom-line growth. Overall, expect Minzhong to further improve its operating cash flow during this quarter and ease previous concern on its trade receivables.

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