$TAANN / 5012 (TA ANN HOLDINGS BERHAD)
Research by MIDF
BUY – TP RM4.16

"Performance Largely In-Line with Seasonal Factors”
• Within Expectations
• Timber products; profit sinks into the red
• Oil Palm; higher average CPO price realized in line with industry average
• Earnings forecast; maintain
• Maintain BUY with a revised TP of RM4.16

Analyst:
MIDF Research Team
research@midf.com.my