SBB Securities believes that the share price of Matsushita Electric Co (M) Bhd (MECB) will ascend further on the back of solid fundamentals, savvy management and strong backing from institutional investors. MECB has the highest net cash per share at RM8.95 (with net cash of RM544mil) on Bursa Malaysia and the second highest in terms of dividend payment with a yield of 17.5%. SBB Securities expects the group's generous dividend payout to continue as MECB is likely to return to the black in FY06 after its restructuring exercise in FY05 that had resulted in a net loss of RM4.9mil – its first since FY1990.
SBBS : [Stock Watch] [News]
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