Friday, February 17, 2012

Combine Will

Combine Will: CIMB features Combine Will for the day. Note that If we could be looking at a DPS of S$0.10 for FY11. At $0.80, that would equate to a 12.5% yield. BVPS at 9M11 was $2.88 or a historical P/BV of 0.27x. If assume that Co. breaks even in 4Q11, the Company will be trading at a historical 4.2x P/E.

On the charts, prices have fallen to a key support level from the December 2010 higher and appears to be forming a base right at the support band of S$0.64-0.80. With its weekly technical indicators now in an up mode, there could possibly be a rebound on the cards. The oversold RSI may also prompt a quick upward correction in prices.

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