Stock Name: Micro-Mech
Company Name: MICRO-MECHANICS (HOLDINGS) LTD
OCBC Investment Research in an Oct 10 research report says: "In light of the weakening macroeconomic environment which is expected to take its toll on the cyclical tech sector, we are lowering our estimates for MMH and now expect revenue and net profit to decline by 1.3% and 7.8% instead of a 4.8% and 2.1% rise in FY2012 respectively (FY2013 earnings estimates also cut by 8.1%).
"Notwithstanding our lower forecasts, we are keeping our dividend estimates for FY12 at 3 S cents, unchanged from FY2011. At this level, it implies a prospective yield of 6.7%, which should provide some downside support to MMH's share price. new fair value estimate of 45 cents (previously 50 cents), still based on 10x FY12F EPS. MAINTAIN HOLD."
Company Name: MICRO-MECHANICS (HOLDINGS) LTD
| Research House: OCBC | Price Call: HOLD | Target Price: 0.45 |
OCBC Investment Research in an Oct 10 research report says: "In light of the weakening macroeconomic environment which is expected to take its toll on the cyclical tech sector, we are lowering our estimates for MMH and now expect revenue and net profit to decline by 1.3% and 7.8% instead of a 4.8% and 2.1% rise in FY2012 respectively (FY2013 earnings estimates also cut by 8.1%).
"Notwithstanding our lower forecasts, we are keeping our dividend estimates for FY12 at 3 S cents, unchanged from FY2011. At this level, it implies a prospective yield of 6.7%, which should provide some downside support to MMH's share price. new fair value estimate of 45 cents (previously 50 cents), still based on 10x FY12F EPS. MAINTAIN HOLD."
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