0403 GMT [Dow Jones] CIMB maintains KLCI's end-2010 target of 1400, based on unchanged mid-cycle PE of 15X. Adds, dividend yield of close to 5% is an added attraction, being highest in region. Says potential share placements by Government Linked Investment Companies (GLIC) such as Khazanah as win-win proposition as will improve free float, liquidity while giving investors opportunity to ride upside to market. "Placements could also help renew foreign investor interest and drive a re rating of the market. We believe investors will continue to look favorably upon placements by GLICs as the move signals skillful execution of the government's drive to boost market liquidity," says CIMB in report. KLCI last down 0.3% at 1214.19. (VGB)
Dow Jones Newswires
September 25, 2009 00:03 ET (04:03 GMT)
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