KUALA LUMPUR: AmResearch has reaffirmed its high conviction Buy on Tan Chong Motor (TCM) with an unchanged fair value of RM6.40 a share after it released its fourth quarter results for the period ended Dec 31, 2012.
It said on Thursday that FY12 earnings came in-line with expectations. Core earnings were at RM50mil for Q4, 2012, which brought FY12 earnings to RM158mil, accounting for 98% of its estimate and 100% of consensus.
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