RHBInvest Research Highlights 21st September 2011

Stock Name: MBMR
Company Name: MBM RESOURCES BHD

Research House: RHB

Price Call: HOLD

Target Price: 3.25

Stock Name: TCHONG
Company Name: TAN CHONG MOTOR HOLDINGS BHD

Research House: RHB

Price Call: BUY

Target Price: 5.50

Stock Name: DRBHCOM
Company Name: DRB-HICOM BHD

Research House: RHB

Price Call: BUY

Target Price: 2.95

Stock Name: UMW
Company Name: UMW HOLDINGS BHD

Research House: RHB

Price Call: HOLD

Target Price: 7.35

Stock Name: APM
Company Name: APM AUTOMOTIVE HOLDINGS BHD

Research House: RHB

Price Call: HOLD

Target Price: 5.10

Stock Name: PROTON
Company Name: PROTON HOLDINGS BHD

Research House: RHB

Price Call: SELL

Target Price: 2.50

21st September 2011

 

Top Story: Petronas Gas ' Dividend payout assured despite cash outflow              Market Perform

Visit Note

''       Management echoed market expectations that gas supply should return to normal once the bypass from the damaged Bekok-C platform is completed by end-Sep.

 

Sector Call

 

Motor: On the rebound                                                                    Neutral

Sector Update

MBM Resources: Fair value maintained at RM3.25                  Market Perform

Tan Chong: Fair value maintained at RM5.50                            Outperform

DRB-HICOM: Fair value maintained at RM2.95                          Outperform

UMW: Fair value maintained at RM7.35                                       Market Perform

APM: Fair value maintained at RM5.10                                         Market Perform

Proton: Fair value maintained at RM2.50                                    Underperform

 

Corporate Highlights

 

Evergreen Fibreboard: Diversifying into solid timber               Underperform

News Update

''       Evergreen has entered into a share subscription agreement with Craft Master Timber Products S/B (CMTP), Lau Yng Yng and Lim Sock Ling to subscribe for 7,012,500 new ordinary shares in CMTP (equivalent to 51% stake) for RM7m cash. CMTP is a newly-incorporated company to carry out the business in manufacturing of solid wooden furniture parts and finger jointing.