[Dow Jones] STOCK CALL: OSK keeps Buy on Supermax Corp (7106.KU), raises target price to MYR5.30 from MYR4.68 after revising up FY10 earnings forecast by 13%. Says company already started capacity expansion program; will ramp up annual capacity to 21.7 billion pieces in 2010 from 14.5 billion currently. Adds, Supermax also prepared for higher latex prices as efforts to enhance production efficiency bearing fruit: natural gas cost cut by 4% year-to-date, electricity cost down 6.4% year-to-date even as output climbed 12% from in FY09 to 12.1 billion pieces from FY08. Expects final dividend with special dividend in January 2010, with total dividend for FY09 coming in at more than 10%. Shares +0.6% at MYR3.62. (VGB)
Dow Jones Newswires
October 21, 2009 00:33 ET (04:33 GMT)
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