While Ang serves an 18 month notice to facilitate the leadership transition, NeraTel appointed former head of network infrastructure business unit, Beck Tong Hong, as its interim CEO. RHB analyst Jarick Seet said in a note on Thursday that the management has confirmed that there would be no change in the company’s direction, and will continue to growth its network infrastructure business organically. Seet estimates that the group could announce the payout in the upcoming 3QFY16 results and has forecast a special dividend of at least 16 cents, representing a dividend yield of as much as 25%, including its recurring 2 cents dividend. To that end, Seet has maintained its “trading buy” on NeraTel with an unchanged target price of 80 cents. Shares in NeraTel are trading flat at 73.5 cents.

Source: The Edge Markets October 27, 2016 05:16 UTC