Hock Seng Lee 3Q2010 result

Quick summary of Hock Seng Lee 3Q2010 result:

3Q2010: Revenue at RM134.3m (+20.7% qoq, 32.1% yoy), net income at RM20.3m (+12.8% qoq, +31.2% yoy).
9MYTD2010: Revenue at RM338.0m (+29.2% yoy), net income at RM51.8m (+33.9% yoy).
Share dividend announced: 1 Treasury Share for every 50 shares owned, ex-date 13-Dec-2010.

The figure is showing that HSL is growing at double digit rate both qoq and yoy, thus making the stock still attractive. With Sarawak theme for investment become popular among investors, HSL may qualify as a good trading idea. Lastly, this stock is very dependent on news, thus it should benefit from future award of construction projects in Sarawak.

Target Price?
These three Investment Banks are giving BUY rating as of time of writing


Maybank : RM2.30
RHB: RM2.27
AmResearch: RM2.28


Please note that the target price and recommendation from them are subject to change. Information show are correct as of the time this blog is published.