KAWAN on target to cross RM 2.50 – Hold

One of our top pick has done RM 2.40 even at a difficult day when Argentina defaulted and Dow Jones has some earnings missed. It has faster than we expected for the price trading at this level. In long term we still optimistic about Kawan and we expect a 15 times PE with improve EPS to RM 0.20 per year in 2016 if not 2015. Thus, mid to long term target to cross RM 3.00.