PETALING JAYA: Despite China’s softening economic outlook that has resulted in an oversupply of steel products, Affin Investment Bank Bhd is maintaining its “buy” call on steel maker Choo Bee Industries Bhd.
“Given Choo Bee’s strong balance sheet, we believe the group is able to maintain its dividend per share of five sen, which translates into a decent yield of 3.3%,” it said in a report, adding that it had tweaked its target price to RM1.68.
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