Changes made to our FY10-12 earnings forecast. We have relooked at our FY10-12 earnings forecast for Faber and have made the following adjustments:
o Effective tax rate assumption. As guided by the management, our previous FY10-12 effective tax rate assumption of 29% p.a. was too high. Consequently, we have revised our FY10 effective tax rate to statutory tax rate of 25%. We have, however, reduced our FY11 and FY12 effective tax rate to 21% p.a., to reflect the higher contribution from UAE which is tax-free.
Faber Group Berhad : Still A Good Buy-01/04/2010
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