Vicplas

CGS-CIMB on Wednesday (Jan 26) initiated coverage on Vicplas International with an "add" call and a target price of S$0.275.

Proposed final payout of 0.375 Singapore cent per share is half of last year's final dividend of 0.5 cent plus special dividend of 0.25 cent

SHARES of Vicplas International, which makes medical devices and pipes, tumbled on Monday morning despite the mainboard-listed firm announcing that its bottom line had improved for the financial year ended July 31.

NET profit for Vicplas International, which makes medical devices and pipes, increased by 17.7 per cent to nearly S$5 million for its fiscal year ended July 31, from S$4.2 million a year ago.

PIPE-MAKER Vicplas International has said that the company is not aware of any information concerning it or its units that has not been announced which might explain the spike in its share price last Friday.