KUALA LUMPUR: Hong Leong Investment Bank (HLIB) Research in its morning report today says it is neutral on the memorandum of understanding (MoU) between Sasbadi Sdn Bhd and Animasia Studio Sdn Bhd.
It does not see any significant contribution for now despite the synergistic benefits.
The MoU will allow Sasbadi to have the right to one of Animasia Studio's intellectual properties, namely Chuck Chicken, in terms of Producing, publishing, distributing, marketing, and selling printed items, as well as sub-licensing the publishing rights to any third party.
Sasbadi will also add value to the Chuck Chicken line of books with its existing augmented reality (AR) technology.
HLIB Research is reiterating its "buy" call on Sasbdi with a post-bonus issue adjusted target price of RM1.15 based on 18x revised CY18 earnings per share of 6.4 sen.
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