Eng Kah Corp +0.3%; Kenanga Keeps At Buy

Eng Kah Corp. (7149.KU) is up 0.3% at MYR3.18; this despite the company saying 3Q net profit fell to MYR2.96 million from MYR3.51 million. 

Kenanga Research says, despite a lower 3Q net profit, the company's nine-month net profit is still in-line with expectations. "We continue to like Eng Kah for its growth story as it rides on the expansion and growing demand from its multinational corporation customers," the house says. 

It also expects 4Q results to be strong due to robust festive demand. The house also says the company offers an attractive dividend yield of 7.1%, and keeps a Buy rating with a price target of MYR3.82.