KUALA LUMPUR (March 2): Hong Leong IB Research said buying interest in Ranhill Holdings Bhd could pick up over the near term after Ranhill highlighted its plan to expand its power business to the SEA region to increase its revenue contribution to the group to 50% from the current 30%. In a trading idea note today, the research house said Ranhill intends to increase the power plant capacity to 1,000MW in the next 3 years vs. current capacity of 380MW. “The cumulative dividend payments make Ranhill an attractive yield play with 9.3% dividend yield (based on total dividend of 7.8 sen at current market price of 84 sen). “We expect buying interest could pick up over the near term towards the target of 87.5 sen, 92 sen and 97.5 sen levels. “Meanwhile, support will be located around 81.5 sen-82.5 sen. Stop loss will be set around 80 sen,” it said.

Source: The Edge Markets March 02, 2017 00:33 UTC