HongLeongAsia: Rev at $5.1b +14.4%yoy with net profit at $120.3m -5.0%yoy. Profit in 09 was generally boosted by negative goodwill from Tasek purchase. 4Q gross profit was at $323.0m +49.2%yoy +14.0%qoq. Sales of diesel engines from Yuchai grew 17.9%yoy with a higher proportion in higher emission standard and capacity engines which resulted in higher ASPs...
Xinfei rev growth from refrigerators and other cooling appliances were 19.2% higher than in 2009 due to domestic demand and favourable govt policies. Co's Rex unit also posted a 77.1% increase yoy in sales of industrial packing products. Co expects to operate profitably for nxt quarter and year and is still in negotiation to dispose
Co declared div of 7c same as prev yr bring FY2010 div payout to 10c, yield of 3.5%. Co has current P/E of 8.8x.
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