Friday, March 4, 2011

Hong Leong Asia rated 'buy' by DMG

Stock Name: HL Asia
Company Name: HONG LEONG ASIA LTD.
Research House: DMG

DMG & Partners Securities in a Mar 3 research report says: "HLA's FY2010 net profit of $120.3 million was down 5% y-o-y. This is in line with our $114.7 million forecast. Excluding 2010's sale of assets and 2009's negative goodwill from purchase of additional Tasek shares, net profit would have risen 44.8% to $103.7 million.

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