Stock Name: KWANTAS
Company Name: KWANTAS CORPORATION BHD
Company Name: KWANTAS CORPORATION BHD
| Research House: TA | Price Call: SELL | Target Price: 1.86 |
December 31, 2012
December 28, 2012
Gaming still holding the fort
Stock Name: BJCORP
Company Name: BERJAYA CORPORATION BHD
Company Name: BERJAYA CORPORATION BHD
| Research House: CIMB | Price Call: HOLD | Target Price: 0.60 |
Expanding its Existing Land Bank in Klang
Stock Name: BSTEAD
Company Name: BOUSTEAD HOLDINGS BHD
Company Name: BOUSTEAD HOLDINGS BHD
| Research House: TA | Price Call: BUY | Target Price: 5.83 |
December 26, 2012
4Q FY Oct 2012 final results
Stock Name: HELP
Company Name: HELP INTERNATIONAL CORPORATION
Company Name: HELP INTERNATIONAL CORPORATION
| Research House: ASIA ANALYTICA | Price Call: HOLD | Target Price: 1.91 |
Attractive Offer for Its 20% stake in Tradewinds
Stock Name: FGV
Company Name: FELDA GLOBAL VENTURES HLDG BHD
Company Name: FELDA GLOBAL VENTURES HLDG BHD
| Research House: TA | Price Call: SELL | Target Price: 3.80 |
December 21, 2012
Berjaya Land Berhad - 2QFY13 RESULTS - Boosted by low expenses
Stock Name: BJLAND
Company Name: BERJAYA LAND BHD
Company Name: BERJAYA LAND BHD
| Research House: CIMB | Price Call: SELL | Target Price: 0.80 |
December 20, 2012
1Q/FY13 results - generally below expectations. Maintain Hold Call.
Stock Name: POHKONG
Company Name: POH KONG HOLDINGS BHD
Company Name: POH KONG HOLDINGS BHD
| Research House: MERCURY | Price Call: HOLD | Target Price: 0.47 |
Rolling out Subaru XV
Stock Name: TCHONG
Company Name: TAN CHONG MOTOR HOLDINGS BHD
Company Name: TAN CHONG MOTOR HOLDINGS BHD
| Research House: MIDF | Price Call: HOLD | Target Price: 4.60 |
Bandar Cemerlang to be Launched Next Year
Stock Name: CRESNDO
Company Name: CRESCENDO CORPORATION BHD
Company Name: CRESCENDO CORPORATION BHD
| Research House: TA | Price Call: HOLD | Target Price: 1.87 |
Lower Earnings on Depressed CPO Price
Stock Name: UMCCA
Company Name: UNITED MALACCA BHD
Company Name: UNITED MALACCA BHD
| Research House: TA | Price Call: SELL | Target Price: 6.00 |
December 19, 2012
Two Additional Draws in 2QFY13
Stock Name: BJTOTO
Company Name: BERJAYA SPORTS TOTO BHD
Company Name: BERJAYA SPORTS TOTO BHD
| Research House: TA | Price Call: HOLD | Target Price: 5.05 |
Auto Report - December
Stock Name: MBMR
Company Name: MBM RESOURCES BHD
Company Name: MBM RESOURCES BHD
| Research House: MIDF | Price Call: BUY | Target Price: 4.53 |
Reaping Fruits of Investments
Stock Name: UMCCA
Company Name: UNITED MALACCA BHD
Company Name: UNITED MALACCA BHD
| Research House: TA | Price Call: SELL | Target Price: 6.00 |
MAS - New Order of 36 Turboprops
Stock Name: MAS
Company Name: MALAYSIAN AIRLINE SYSTEM BHD
Company Name: MALAYSIAN AIRLINE SYSTEM BHD
| Research House: MIDF | Price Call: HOLD | Target Price: 1.02 |
December 18, 2012
Sutaining growth momentum
Stock Name: KPJ
Company Name: KPJ HEALTHCARE BHD
Company Name: KPJ HEALTHCARE BHD
| Research House: MIDF | Price Call: BUY | Target Price: 6.86 |
3QFYJan2013 results review
Stock Name: TA
Company Name: TA ENTERPRISE BHD
Company Name: TA ENTERPRISE BHD
| Research House: NETRESEARCH | Price Call: HOLD | Target Price: 0.60 |
December 17, 2012
Good Prospects Ahead
Stock Name: KIANJOO
Company Name: KIAN JOO CAN FACTORY BHD
Company Name: KIAN JOO CAN FACTORY BHD
| Research House: TA | Price Call: BUY | Target Price: 2.56 |
Update Report - 17 Dec 2012
Stock Name: SNTORIA
Company Name: SENTORIA GROUP BERHAD
Company Name: SENTORIA GROUP BERHAD
| Research House: NETRESEARCH | Price Call: BUY | Target Price: 0.89 |
Seeing Silver Lining?
Stock Name: MELEWAR
Company Name: MELEWAR INDUSTRIAL GROUP BHD
Company Name: MELEWAR INDUSTRIAL GROUP BHD
| Research House: TA | Price Call: HOLD | Target Price: 0.325 |
MIDF cuts AirAsia's target price
Stock Name: AIRASIA
Company Name: AIRASIA BHD
MIDF Research lowered its target price on AirAsia Bhd to RM3.45 from RM3.84 after Asia's largest budget carrier purchased an additional 100 Airbus A320 aircraft.
"We foresee short-term headwinds due to more intense competition from new entrant into its home market and increased uncertainties due to the stock removal from the benchmark stock index," the research house said in a note on Monday.
However, MIDF said the 9.4 billion deal with Airbus would further enhance AirAsia's position as the cost leader in the low cost carriers (LCC) industry.
"Our take on AirAsia is that, in time, it might even overtake the position of Ryanair Holdings Plc in Europe and Southwest in North America as the global leader of LCC given its high order-book for aircraft, and the huge population in Asia which is still under served," MIDF said.
The research house maintained its 'buy' rating on AirAsia shares. By 0929 a.m. (0129 GMT), shares of AirAsia dropped 2.25 per cent to RM2.61, underperforming the benchmark stock index's 0.44 per cent fall. -- Reuters
Company Name: AIRASIA BHD
| Research House: MIDF | Price Call: BUY | Target Price: 3.45 |
MIDF Research lowered its target price on AirAsia Bhd to RM3.45 from RM3.84 after Asia's largest budget carrier purchased an additional 100 Airbus A320 aircraft.
"We foresee short-term headwinds due to more intense competition from new entrant into its home market and increased uncertainties due to the stock removal from the benchmark stock index," the research house said in a note on Monday.
However, MIDF said the 9.4 billion deal with Airbus would further enhance AirAsia's position as the cost leader in the low cost carriers (LCC) industry.
"Our take on AirAsia is that, in time, it might even overtake the position of Ryanair Holdings Plc in Europe and Southwest in North America as the global leader of LCC given its high order-book for aircraft, and the huge population in Asia which is still under served," MIDF said.
The research house maintained its 'buy' rating on AirAsia shares. By 0929 a.m. (0129 GMT), shares of AirAsia dropped 2.25 per cent to RM2.61, underperforming the benchmark stock index's 0.44 per cent fall. -- Reuters
December 14, 2012
Valuation stretched
Stock Name: TOPGLOV
Company Name: TOP GLOVE CORPORATION BHD
Company Name: TOP GLOVE CORPORATION BHD
| Research House: MIDF | Price Call: HOLD | Target Price: 5.79 |
1Q FY13 Results Within Expectations
Stock Name: TOPGLOV
Company Name: TOP GLOVE CORPORATION BHD
Company Name: TOP GLOVE CORPORATION BHD
| Research House: TA | Price Call: BUY | Target Price: 6.55 |
MIDF ups Axiata to 'trading buy'
Stock Name: AXIATA
Company Name: AXIATA GROUP BERHAD
MIDF Research upgraded Axiata Group Bhd to 'trading buy' from 'neutral' after the second-largest mobile phone operator in Southeast Asia announced it will buy Cambodian rival Latelz Company Ltd for US$155 million.
"The merger is a good move in our opinion but we are not revising our numbers as the immediate impact will not be material," the research house said in a note on Friday.
"However, we believe investor will be upbeat on the newsflow as evident by the reaction of the share price," MIDF added.
Raising its target price on Axiata to RM6.95 per share from RM6.35, MIDF said it expected the sentiment to remain positive for the next few months.
At 10.56 am, Axiata shares were down 0.46 per cent at RM6.50, while the benchmark stock index was 0.25 per cent lower. - Reuters
Company Name: AXIATA GROUP BERHAD
| Research House: MIDF | Price Call: TRADING BUY | Target Price: 6.95 |
MIDF Research upgraded Axiata Group Bhd to 'trading buy' from 'neutral' after the second-largest mobile phone operator in Southeast Asia announced it will buy Cambodian rival Latelz Company Ltd for US$155 million.
"The merger is a good move in our opinion but we are not revising our numbers as the immediate impact will not be material," the research house said in a note on Friday.
"However, we believe investor will be upbeat on the newsflow as evident by the reaction of the share price," MIDF added.
Raising its target price on Axiata to RM6.95 per share from RM6.35, MIDF said it expected the sentiment to remain positive for the next few months.
At 10.56 am, Axiata shares were down 0.46 per cent at RM6.50, while the benchmark stock index was 0.25 per cent lower. - Reuters
December 13, 2012
UOA - Disposal of Investment Property
Stock Name: UOADEV
Company Name: UOA DEVELOPMENT BERHAD
Company Name: UOA DEVELOPMENT BERHAD
| Research House: MIDF | Price Call: BUY | Target Price: 2.07 |
SP Setia dips despite good financial results
Stock Name: SPSETIA
Company Name: SP SETIA BHD
KUALA LUMPUR: SP Setia Bhd's shares on Bursa Malaysia dipped four sen, or 1.27 per cent, to RM3.11 as at 3.39 pm today despite posting good financial-year result yesterday.
The counter opened at RM3.17 and hovered between RM3.11 and RM3.18 with 3.68 million shares traded.
HwangDBS Vickers Research said the 30 per cent growth target in sales for next financial year was achievable due to the launch of Battersea Phase 1 condominiums, RM4 billion Setia Eco Hills@Semenyih township and other projects.
"We see the RM40 billion gross development value for Battersea as a gamechanger which can potentially double earnings by financial years 2016 and 2017," it said in a note to Bernama.
The research firm has maintained a 'buy' call on SP Setia and with the target price at RM4.10 -- BERNAMA
Company Name: SP SETIA BHD
| Research House: HWANGDBS | Price Call: BUY | Target Price: 4.10 |
KUALA LUMPUR: SP Setia Bhd's shares on Bursa Malaysia dipped four sen, or 1.27 per cent, to RM3.11 as at 3.39 pm today despite posting good financial-year result yesterday.
The counter opened at RM3.17 and hovered between RM3.11 and RM3.18 with 3.68 million shares traded.
HwangDBS Vickers Research said the 30 per cent growth target in sales for next financial year was achievable due to the launch of Battersea Phase 1 condominiums, RM4 billion Setia Eco Hills@Semenyih township and other projects.
"We see the RM40 billion gross development value for Battersea as a gamechanger which can potentially double earnings by financial years 2016 and 2017," it said in a note to Bernama.
The research firm has maintained a 'buy' call on SP Setia and with the target price at RM4.10 -- BERNAMA
December 11, 2012
On-track to meet earnings estimates with more goodies to come
Stock Name: SKPETRO
Company Name: SAPURAKENCANA PETROLEUM BHD
Company Name: SAPURAKENCANA PETROLEUM BHD
| Research House: MIDF | Price Call: BUY | Target Price: 3.96 |
Mah Sing - Right issue with bonus share and free warrant
Stock Name: MAHSING
Company Name: MAH SING GROUP BHD
Company Name: MAH SING GROUP BHD
| Research House: MIDF | Price Call: BUY | Target Price: 2.85 |
Making Cash Available for Future Acquisitions
Stock Name: MAHSING
Company Name: MAH SING GROUP BHD
Company Name: MAH SING GROUP BHD
| Research House: TA | Price Call: BUY | Target Price: 3.02 |
December 10, 2012
AmRes reaffirms strong 'buy' on BFood
Stock Name: BJFOOD
Company Name: BERJAYA FOOD BERHAD
AmResearch Sdn Bhd has re-affirmed its strong "buy" recommendation on Berjaya Food Bhd (BFood) following the company's acquisition of a 100 per cent equity stake in Singapore's Jollibean Foods Pte Ltd (JFPL).
The fair value has increased to RM1.55 per share against RM1.40 per share previously.
The research house said the acquisition was a positive move as it further strengthened the group's position as a regional food and beverage player.
"We see exciting growth plans mapped out, backed by its growing franchise value business model, and supportive operating dynamics.
"Management is also keen in expanding Sushi Deli in the medium-term, but the focus now is on Jollibean," said AmResearch in a note.
It said JFPL was forecast to generate at least S$0.75 million (RM1.87 million) in 2013 pre-tax earnings.
As such, BFood's earnings was expected to grow 97 per cent to RM22 million (inclusive Starbucks' nine months contribution).
"We retain our bullish conviction in BFood for its bright outlook, driven by a greater food and beverages portfolio of brands -- Kenny Rogers Roasters, Starbucks, Jollibean, Sushi Deli, Kopi Alley and Dango," it added. Bernama
Company Name: BERJAYA FOOD BERHAD
| Research House: AMMB | Price Call: BUY | Target Price: 1.55 |
AmResearch Sdn Bhd has re-affirmed its strong "buy" recommendation on Berjaya Food Bhd (BFood) following the company's acquisition of a 100 per cent equity stake in Singapore's Jollibean Foods Pte Ltd (JFPL).
The fair value has increased to RM1.55 per share against RM1.40 per share previously.
The research house said the acquisition was a positive move as it further strengthened the group's position as a regional food and beverage player.
"We see exciting growth plans mapped out, backed by its growing franchise value business model, and supportive operating dynamics.
"Management is also keen in expanding Sushi Deli in the medium-term, but the focus now is on Jollibean," said AmResearch in a note.
It said JFPL was forecast to generate at least S$0.75 million (RM1.87 million) in 2013 pre-tax earnings.
As such, BFood's earnings was expected to grow 97 per cent to RM22 million (inclusive Starbucks' nine months contribution).
"We retain our bullish conviction in BFood for its bright outlook, driven by a greater food and beverages portfolio of brands -- Kenny Rogers Roasters, Starbucks, Jollibean, Sushi Deli, Kopi Alley and Dango," it added. Bernama
Time dotCom surges to 3-year high
Stock Name: TIMECOM
Company Name: TIME DOTCOM BHD
KUALA LUMPUR: Time dotCom Bhd, a Malaysian Internet and payphone services operator, jumped the most in more than three years after proposing to distribute shares of DiGi.Com Bhd. valued at RM665.5 million (US$218 million) to shareholders as part of a dividend stock plan.
The stock surged 14 per cent to RM4 at 11:28 a.m. local time in Kuala Lumpur trading, poised for its steepest increase since April 10, 2009. It was the biggest gain on the FTSE Bursa Malaysia Top 100 Index, which added 0.6 per cent.
Time dotCom, which owns 275 million shares or a 3.5 per cent stake in DiGi, plans to distribute up to 137.5 million DiGi shares to shareholders as a dividend-in-specie, according to the statement. DiGi is Malaysia's third-largest mobile-phone operator by market value.
"It is just a matter of time before Time dotCom starts to reward its shareholders as we expect it to generate steady operating cash flow and become more self-sustaining," Low Yee Huap, an analyst at Hong Leong Financial Group Bhd, wrote in a report today. The proposal will "yield a massive 33.2 per cent return assuming one-time distribution." Low kept his buy call with a price estimate of RM4.66.
Shareholders will be awarded six DiGi shares for every 25 shares held, the company said. Time dotCom, based in Shah Alam in central Selangor state, operates a 9,000 kilometre fibre optics network traversing from Thailand to Singapore, according to its website. -- Bloomberg
Company Name: TIME DOTCOM BHD
| Research House: HLG | Price Call: BUY | Target Price: 4.66 |
KUALA LUMPUR: Time dotCom Bhd, a Malaysian Internet and payphone services operator, jumped the most in more than three years after proposing to distribute shares of DiGi.Com Bhd. valued at RM665.5 million (US$218 million) to shareholders as part of a dividend stock plan.
The stock surged 14 per cent to RM4 at 11:28 a.m. local time in Kuala Lumpur trading, poised for its steepest increase since April 10, 2009. It was the biggest gain on the FTSE Bursa Malaysia Top 100 Index, which added 0.6 per cent.
Time dotCom, which owns 275 million shares or a 3.5 per cent stake in DiGi, plans to distribute up to 137.5 million DiGi shares to shareholders as a dividend-in-specie, according to the statement. DiGi is Malaysia's third-largest mobile-phone operator by market value.
"It is just a matter of time before Time dotCom starts to reward its shareholders as we expect it to generate steady operating cash flow and become more self-sustaining," Low Yee Huap, an analyst at Hong Leong Financial Group Bhd, wrote in a report today. The proposal will "yield a massive 33.2 per cent return assuming one-time distribution." Low kept his buy call with a price estimate of RM4.66.
Shareholders will be awarded six DiGi shares for every 25 shares held, the company said. Time dotCom, based in Shah Alam in central Selangor state, operates a 9,000 kilometre fibre optics network traversing from Thailand to Singapore, according to its website. -- Bloomberg
December 7, 2012
UPDATE REPORT
Stock Name: REDTONE
Company Name: REDTONE INTERNATIONAL BHD
Company Name: REDTONE INTERNATIONAL BHD
| Research House: NETRESEARCH | Price Call: BUY | Target Price: 0.48 |
Damar gig official announcement by ExxonMobil
Stock Name: MHB
Company Name: MALAYSIA MARINE AND HEAVY ENG
Company Name: MALAYSIA MARINE AND HEAVY ENG
| Research House: MIDF | Price Call: HOLD | Target Price: 4.75 |
December 6, 2012
SP Setia declines despite winning tender
Stock Name: SPSETIA
Company Name: SP SETIA BHD
KUALA LUMPUR:SP Setia Bhd's shares declined three sen to
RM3.05 at mid-afternoon today despite the company being successful in the tender for the 1.25-hectare freehold land along Jalan Ampang worth RM295 million.
The counter had opened in the morning three sen higher at RM3.11. As at 3 pm today, a total of 1.35 million shares changed hands.
The land is located in Embassy Row, next to Menara HSC and is situated less than one kilometre from the Petronas twin Tower.
Kenanga Research, in a note to Bernama today, said the project, with a gross development value of RM1.04 billion, will feature an integrated commercial development.
"We maintained a 'market perform' call on SP Setia. Although there are catalytic projects at hands, it appears that SP Setia's liquidity issues are affecting its share price negatively," it said.
Hong Leong Investment Bank (HLIB) said the acquisition was not the best of time as other developers had been holding off their launches in the KLCC/Embassy area.
"SP Setia can also expect to have close to RM300 million sunk into the land, while having to wait at least two years before recouping any cashflow," the research house said in a note to Bernama.
Fortunately, SP Setia still has another RM760 million of gearing headroom before net gearing hit the 0.5 time threshold, it said.
HLIB has maintained its 'hold' call on SP Setia and unchanged target price at RM3.17. -- BERNAMA
Company Name: SP SETIA BHD
| Research House: HLG | Price Call: HOLD | Target Price: 3.17 |
KUALA LUMPUR:SP Setia Bhd's shares declined three sen to
RM3.05 at mid-afternoon today despite the company being successful in the tender for the 1.25-hectare freehold land along Jalan Ampang worth RM295 million.
The counter had opened in the morning three sen higher at RM3.11. As at 3 pm today, a total of 1.35 million shares changed hands.
The land is located in Embassy Row, next to Menara HSC and is situated less than one kilometre from the Petronas twin Tower.
Kenanga Research, in a note to Bernama today, said the project, with a gross development value of RM1.04 billion, will feature an integrated commercial development.
"We maintained a 'market perform' call on SP Setia. Although there are catalytic projects at hands, it appears that SP Setia's liquidity issues are affecting its share price negatively," it said.
Hong Leong Investment Bank (HLIB) said the acquisition was not the best of time as other developers had been holding off their launches in the KLCC/Embassy area.
"SP Setia can also expect to have close to RM300 million sunk into the land, while having to wait at least two years before recouping any cashflow," the research house said in a note to Bernama.
Fortunately, SP Setia still has another RM760 million of gearing headroom before net gearing hit the 0.5 time threshold, it said.
HLIB has maintained its 'hold' call on SP Setia and unchanged target price at RM3.17. -- BERNAMA
NJOI-ing some tractions
Stock Name: ASTRO
Company Name: ASTRO MALAYSIA HOLDINGS BERHAD
Company Name: ASTRO MALAYSIA HOLDINGS BERHAD
| Research House: MIDF | Price Call: BUY | Target Price: 3.40 |
Telco - Ready for LTE
Stock Name: TM
Company Name: TELEKOM MALAYSIA BHD
Company Name: TELEKOM MALAYSIA BHD
| Research House: MIDF | Price Call: BUY | Target Price: 6.75 |
Hong Leong: SJR Marine stake sale positive
Stock Name: PERISAI
Company Name: PERISAI PETROLEUM TEKNOLOGI
KUALA LUMPUR: Perisai Petroleum Teknologi Bhd's move to dispose of the remaining 50 per cent stake in SJR Marine (L) Ltd to EOC Ltd was viewed as 'positive' by Hong Leong Investment Bank.
"The disposal will lower debt as the jackup rig is scheduled for delivery in mid-2014, which we believe would be a robust market for drilling during the period.
"The put call option will help to reduce cash outflow when the rig is delivered in mid-2014," the research house said in a note today.
Assuming rig utilisation at 80 per cent and daily charter rate at US$160,000, the topline contribution from the rig would be RM140 million while contribution from the pipelay barges would only be RM67 million, it said.
"Thus assuming that both the rig and pipelay vessel have similar margins, earnings could increase several fold.
"We are positive on the recent proposals as the company is sensible in managing gearing at the same time ensuring that earnings will be enhanced," Hong Leong said.
The research house has maintained a "buy" call on Perisai Petroleum with unchanged target price of RM1.55. -- BERNAMA
Company Name: PERISAI PETROLEUM TEKNOLOGI
| Research House: HLG | Price Call: BUY | Target Price: 1.55 |
KUALA LUMPUR: Perisai Petroleum Teknologi Bhd's move to dispose of the remaining 50 per cent stake in SJR Marine (L) Ltd to EOC Ltd was viewed as 'positive' by Hong Leong Investment Bank.
"The disposal will lower debt as the jackup rig is scheduled for delivery in mid-2014, which we believe would be a robust market for drilling during the period.
"The put call option will help to reduce cash outflow when the rig is delivered in mid-2014," the research house said in a note today.
Assuming rig utilisation at 80 per cent and daily charter rate at US$160,000, the topline contribution from the rig would be RM140 million while contribution from the pipelay barges would only be RM67 million, it said.
"Thus assuming that both the rig and pipelay vessel have similar margins, earnings could increase several fold.
"We are positive on the recent proposals as the company is sensible in managing gearing at the same time ensuring that earnings will be enhanced," Hong Leong said.
The research house has maintained a "buy" call on Perisai Petroleum with unchanged target price of RM1.55. -- BERNAMA
Ann Joo's share price stays unchanged
Stock Name: ANNJOO
Company Name: ANN JOO RESOURCES BHD
Ann Joo Resources Bhd's share prices closed the morning trading session unchanged at RM1.33 despite its proposal to dispose its stake in Anshin Precision Industries Sdn Bhd for RM8.9 million.
Throughout the session, the counter stayed pegged at RM1.33 with 138,100 shares changing hands.
Via the disposal of a 59.1 per cent stake in the company, Ann Joo would record a disposal gain of RM1.3 million, said Hong Leong Investment Bank (HLIB) Research in a note to Bernama.
"We see the disposal as immaterial to the company and therefore our neutral view for the counter.
The company still maintained a target price of RM1.33 and put a hold recommendation on the stock.
Nevertheless, HLIB Research said the latest move was in line with Ann Joo's strategy to focus on its core business which was manufacturing and trading of steel products. Bernama
Company Name: ANN JOO RESOURCES BHD
| Research House: HLG | Price Call: HOLD | Target Price: 1.33 |
Ann Joo Resources Bhd's share prices closed the morning trading session unchanged at RM1.33 despite its proposal to dispose its stake in Anshin Precision Industries Sdn Bhd for RM8.9 million.
Throughout the session, the counter stayed pegged at RM1.33 with 138,100 shares changing hands.
Via the disposal of a 59.1 per cent stake in the company, Ann Joo would record a disposal gain of RM1.3 million, said Hong Leong Investment Bank (HLIB) Research in a note to Bernama.
"We see the disposal as immaterial to the company and therefore our neutral view for the counter.
The company still maintained a target price of RM1.33 and put a hold recommendation on the stock.
Nevertheless, HLIB Research said the latest move was in line with Ann Joo's strategy to focus on its core business which was manufacturing and trading of steel products. Bernama
OSK lifts Astro's earnings forecast
Stock Name: ASTRO
Company Name: ASTRO MALAYSIA HOLDINGS BERHAD
OSK Research Sdn Bhd has revised upwards Astro Malaysia Holdings Bhd's 2013-2015 financial year earnings forecast by between five per cent and 12 per cent, given its better-than-expected third quarter performance.
In a research note, OSK Research said Astro's core earnings for the nine-months ended Oct 31, 2012, were ahead of its estimates, but within consensus' numbers, making up 84 per cent and 73 per cent of the respective full-year forecasts.
The group's revenue for the period under review grew by 12 per cent year-on-year, propelled by higher subscription of its B.yond High-Definition services.
"We continue to like Astro's monopoly in the domestic pay-television segment, despite the near-term blip due to rising content cost and higher fixed expenses associated with subscribers opting for B.yond set top box," it said.
The research house maintained its "buy" call on the stock, with an upgraded RM3.40 fair value.
In a separate research note, Hong Leong Investment Bank Bhd said Astro's NJOI service, a subscription-free satellite TV service, had grown to 132,000
subscribers.
"We believe that this is a strategic move by Astro to capture viewership from the free-to-air television segment, allowing the company to grow its advertising expenditure share and generate additional revenue through prepaid offerings," it said.
The research house maintained its "hold" call on the stock, with an unchanged RM3.16 target price. Bernama
Company Name: ASTRO MALAYSIA HOLDINGS BERHAD
| Research House: OSK | Price Call: BUY | Target Price: 3.40 |
OSK Research Sdn Bhd has revised upwards Astro Malaysia Holdings Bhd's 2013-2015 financial year earnings forecast by between five per cent and 12 per cent, given its better-than-expected third quarter performance.
In a research note, OSK Research said Astro's core earnings for the nine-months ended Oct 31, 2012, were ahead of its estimates, but within consensus' numbers, making up 84 per cent and 73 per cent of the respective full-year forecasts.
The group's revenue for the period under review grew by 12 per cent year-on-year, propelled by higher subscription of its B.yond High-Definition services.
"We continue to like Astro's monopoly in the domestic pay-television segment, despite the near-term blip due to rising content cost and higher fixed expenses associated with subscribers opting for B.yond set top box," it said.
The research house maintained its "buy" call on the stock, with an upgraded RM3.40 fair value.
In a separate research note, Hong Leong Investment Bank Bhd said Astro's NJOI service, a subscription-free satellite TV service, had grown to 132,000
subscribers.
"We believe that this is a strategic move by Astro to capture viewership from the free-to-air television segment, allowing the company to grow its advertising expenditure share and generate additional revenue through prepaid offerings," it said.
The research house maintained its "hold" call on the stock, with an unchanged RM3.16 target price. Bernama
December 5, 2012
Sunway shares unchanged despite land buy
Stock Name: SUNWAY
Company Name: SUNWAY BERHAD
KUALA LUMPUR: Sunway Bhd's share prices were unchanged at
RM2.30 as at 3 pm today despite the conglomerate's latest move to expand its landbank in Iskandar Malaysia economic corridor.
Its prices had moved between RM2.30 and RM2.32 with a total of 280,700 shares traded.
Yesterday, Sunway acquired two parcels of freehold land in Iskandar Malaysia totalling 311.6ha for RM412.7 million through a joint-venture company, Iskandar Asset Sdn Bhd, a unit of Iskandar Investment Bhd.
Hong Leong Investment Bank (HLIB) said the latest venture by the company was being viewed as "long-term" positive move.
It said the land will be jointly developed by both companies for a mixed integrated development projects and expected to raise of about RM12 billion over 17 years.
"This new land will transform Sunway into one of the biggest developers in Iskandar. It has increased its landbank by 29 per cent to 1449ha and raise gross development value by 40 per cent to RM25 billion," HLIB told Bernama today.
HLIB has maintained a 'buy' call on the counter with the target price of RM2.93. -- BERNAMA
Company Name: SUNWAY BERHAD
| Research House: HLG | Price Call: BUY | Target Price: 2.93 |
KUALA LUMPUR: Sunway Bhd's share prices were unchanged at
RM2.30 as at 3 pm today despite the conglomerate's latest move to expand its landbank in Iskandar Malaysia economic corridor.
Its prices had moved between RM2.30 and RM2.32 with a total of 280,700 shares traded.
Yesterday, Sunway acquired two parcels of freehold land in Iskandar Malaysia totalling 311.6ha for RM412.7 million through a joint-venture company, Iskandar Asset Sdn Bhd, a unit of Iskandar Investment Bhd.
Hong Leong Investment Bank (HLIB) said the latest venture by the company was being viewed as "long-term" positive move.
It said the land will be jointly developed by both companies for a mixed integrated development projects and expected to raise of about RM12 billion over 17 years.
"This new land will transform Sunway into one of the biggest developers in Iskandar. It has increased its landbank by 29 per cent to 1449ha and raise gross development value by 40 per cent to RM25 billion," HLIB told Bernama today.
HLIB has maintained a 'buy' call on the counter with the target price of RM2.93. -- BERNAMA
Kicking-off the next growth stage for Nusajaya
Stock Name: UEMLAND
Company Name: UEM LAND HOLDINGS BHD
Company Name: UEM LAND HOLDINGS BHD
| Research House: MIDF | Price Call: BUY | Target Price: 2.54 |
Telco - 3Q12 Results Roundup
Stock Name: TM
Company Name: TELEKOM MALAYSIA BHD
Company Name: TELEKOM MALAYSIA BHD
| Research House: MIDF | Price Call: BUY | Target Price: 6.75 |
OilGas - 2013 Outlook
Stock Name: SKPETRO
Company Name: SAPURAKENCANA PETROLEUM BHD
Company Name: SAPURAKENCANA PETROLEUM BHD
| Research House: MIDF | Price Call: BUY | Target Price: 3.96 |
December 4, 2012
PPB Group Bhd RR 3Q FY2012
Stock Name: PPB
Company Name: PPB GROUP BHD
Company Name: PPB GROUP BHD
| Research House: WILSON & YORK | Price Call: HOLD | Target Price: 13.68 |
APM Automotive Holdings Bhd RR 3Q FY2012
Stock Name: APM
Company Name: APM AUTOMOTIVE HOLDINGS BHD
Company Name: APM AUTOMOTIVE HOLDINGS BHD
| Research House: WILSON & YORK | Price Call: BUY | Target Price: 6.00 |
1QFY13 Results Report
Stock Name: OGAWA
Company Name: OGAWA WORLD BHD
Company Name: OGAWA WORLD BHD
| Research House: NETRESEARCH | Price Call: HOLD | Target Price: 0.40 |
Potential Divestment of CityNeon?
Stock Name: STAR
Company Name: STAR PUBLICATIONS (M) BHD
Company Name: STAR PUBLICATIONS (M) BHD
| Research House: TA | Price Call: SELL | Target Price: 2.94 |
CCK Consolidated Holdings Bhd RR 1Q FY2013
Stock Name: CCK
Company Name: CCK CONSOLIDATED HOLDINGS BHD
Company Name: CCK CONSOLIDATED HOLDINGS BHD
| Research House: WILSON & YORK | Price Call: BUY | Target Price: 1.12 |
December 3, 2012
Multiple Risks. Downgrade to Sell
Stock Name: FGV
Company Name: FELDA GLOBAL VENTURES HLDG BHD
Company Name: FELDA GLOBAL VENTURES HLDG BHD
| Research House: TA | Price Call: SELL | Target Price: 4.66 |
Diversification into Oil & Gas
Stock Name: SENDAI
Company Name: EVERSENDAI CORPORATION BERHAD
Company Name: EVERSENDAI CORPORATION BERHAD
| Research House: TA | Price Call: BUY | Target Price: 1.93 |
9M12 in-line but margin narrowed
Stock Name: TM
Company Name: TELEKOM MALAYSIA BHD
Company Name: TELEKOM MALAYSIA BHD
| Research House: TA | Price Call: HOLD | Target Price: 5.94 |
OSK ups Axiata 2013 earnings forecast by 3pc
Stock Name: AXIATA
Company Name: AXIATA GROUP BERHAD
KUALA LUMPUR: OSK Research Sdn Bhd has lifted Axiata Group Bhd's 2013 financial year earnings forecast by three per cent, given its relatively good third quarter results for the 2012 financial year.
It said the earnings estimates for the 2012 financial year, however, was revised down by one per cent.
The group registered revenue and earnings before interest, taxes,
depreciation and amortisation growth of nine per cent and five per cent, respectively, for the nine-months ended Sept 30, 2012, surpassing earlier projections of 7.2 per cent and 4.5 per cent.
"Celcom continued to outflank Maxis and DiGi, reaffirming the success of its customer segmentation strategy in Malaysia, a major marketing lynchpin.
"After coming behind Maxis and DiGi for the past five years, it has since claimed the top spot in the youth segment and continues to make inroads into the mid-urban and suburban areas," it said in a research note.
OSK Research upgraded its call on the stock to a "buy" at a revised fair value of RM6.62. -- BERNAMA
Company Name: AXIATA GROUP BERHAD
| Research House: OSK | Price Call: BUY | Target Price: 6.62 |
KUALA LUMPUR: OSK Research Sdn Bhd has lifted Axiata Group Bhd's 2013 financial year earnings forecast by three per cent, given its relatively good third quarter results for the 2012 financial year.
It said the earnings estimates for the 2012 financial year, however, was revised down by one per cent.
The group registered revenue and earnings before interest, taxes,
depreciation and amortisation growth of nine per cent and five per cent, respectively, for the nine-months ended Sept 30, 2012, surpassing earlier projections of 7.2 per cent and 4.5 per cent.
"Celcom continued to outflank Maxis and DiGi, reaffirming the success of its customer segmentation strategy in Malaysia, a major marketing lynchpin.
"After coming behind Maxis and DiGi for the past five years, it has since claimed the top spot in the youth segment and continues to make inroads into the mid-urban and suburban areas," it said in a research note.
OSK Research upgraded its call on the stock to a "buy" at a revised fair value of RM6.62. -- BERNAMA
No muddy waters here
Stock Name: ALAM
Company Name: ALAM MARITIM RESOURCES BHD
Company Name: ALAM MARITIM RESOURCES BHD
| Research House: CIMB | Price Call: BUY | Target Price: 1.42 |
More potential from HSBB regardless of the service provider
Stock Name: TM
Company Name: TELEKOM MALAYSIA BHD
Company Name: TELEKOM MALAYSIA BHD
| Research House: MIDF | Price Call: BUY | Target Price: 6.75 |
Earnings dragged by subdued CPO prices
Stock Name: FGV
Company Name: FELDA GLOBAL VENTURES HLDG BHD
Company Name: FELDA GLOBAL VENTURES HLDG BHD
| Research House: MIDF | Price Call: BUY | Target Price: 5.27 |
First venture into O&G sector
Stock Name: SENDAI
Company Name: EVERSENDAI CORPORATION BERHAD
Company Name: EVERSENDAI CORPORATION BERHAD
| Research House: MIDF | Price Call: BUY | Target Price: 2.08 |
10% private placement to fund new rig
Stock Name: PERISAI
Company Name: PERISAI PETROLEUM TEKNOLOGI
Company Name: PERISAI PETROLEUM TEKNOLOGI
| Research House: TA | Price Call: BUY | Target Price: 1.39 |
3QFY12 Results Report
Stock Name: TRIUMPL
Company Name: TRIUMPHAL ASSOCIATES BHD
Company Name: TRIUMPHAL ASSOCIATES BHD
| Research House: NETRESEARCH | Price Call: BUY | Target Price: 1.30 |
December 1, 2012
NPC Resources Bhd RR 3Q FY2012
Stock Name: NPC
Company Name: NPC RESOURCES BHD
Company Name: NPC RESOURCES BHD
| Research House: WILSON & YORK | Price Call: HOLD | Target Price: 2.30 |
November 30, 2012
Another positive earnings surprise
Stock Name: NAIM
Company Name: NAIM HOLDINGS BHD
Company Name: NAIM HOLDINGS BHD
| Research House: MIDF | Price Call: BUY | Target Price: 3.14 |
To benefit from shifting trends of "green" construction industry
Stock Name: LMCEMNT
Company Name: LAFARGE MALAYAN CEMENT BHD
Company Name: LAFARGE MALAYAN CEMENT BHD
| Research House: MIDF | Price Call: HOLD | Target Price: 9.00 |
Profitability hit by overseas operations
Stock Name: KPJ
Company Name: KPJ HEALTHCARE BHD
Company Name: KPJ HEALTHCARE BHD
| Research House: MIDF | Price Call: BUY | Target Price: 6.86 |
Growth led by Celcom
Stock Name: AXIATA
Company Name: AXIATA GROUP BERHAD
Company Name: AXIATA GROUP BERHAD
| Research House: MIDF | Price Call: HOLD | Target Price: 6.35 |
Expect to perform well in 4Q due to festivities
Stock Name: AEON
Company Name: AEON CO. (M) BHD
Company Name: AEON CO. (M) BHD
| Research House: MIDF | Price Call: HOLD | Target Price: 12.10 |
Cracks in manufacturing margin
Stock Name: CMSB
Company Name: CAHYA MATA SARAWAK BHD
Company Name: CAHYA MATA SARAWAK BHD
| Research House: CIMB | Price Call: HOLD | Target Price: 3.25 |
A Weak Quarter to Start Off With
Stock Name: KWANTAS
Company Name: KWANTAS CORPORATION BHD
Company Name: KWANTAS CORPORATION BHD
| Research House: TA | Price Call: SELL | Target Price: 1.76 |
November 29, 2012
Less volatile operating environment
Stock Name: PANAMY
Company Name: PANASONIC MANUFACTURING MSIA
Company Name: PANASONIC MANUFACTURING MSIA
| Research House: MIDF | Price Call: HOLD | Target Price: 21.41 |
Smooth traffic flow during festival seasons
Stock Name: LITRAK
Company Name: LINGKARAN TRANS KOTA HOLDINGS
Company Name: LINGKARAN TRANS KOTA HOLDINGS
| Research House: MIDF | Price Call: HOLD | Target Price: 4.07 |
Market share continued to trending down
Stock Name: JTINTER
Company Name: JT INTERNATIONAL BHD
Company Name: JT INTERNATIONAL BHD
| Research House: MIDF | Price Call: HOLD | Target Price: 6.80 |
Young trees from Indonesia to support future growth
Stock Name: IJMPLNT
Company Name: IJM PLANTATIONS BHD
Company Name: IJM PLANTATIONS BHD
| Research House: MIDF | Price Call: BUY | Target Price: 3.62 |
Expect a stronger second half
Stock Name: IJMLAND
Company Name: IJM LAND BERHAD
Company Name: IJM LAND BERHAD
| Research House: MIDF | Price Call: BUY | Target Price: 2.60 |
Higher property and construction margin offset weak plantation
Stock Name: IJM
Company Name: IJM CORPORATION BHD
Company Name: IJM CORPORATION BHD
| Research House: MIDF | Price Call: BUY | Target Price: 6.63 |
Big boost in land bank
Stock Name: GENP
Company Name: GENTING PLANTATIONS BERHAD
Company Name: GENTING PLANTATIONS BERHAD
| Research House: MIDF | Price Call: BUY | Target Price: 9.88 |
FY13 is about Damage Control
Stock Name: MELEWAR
Company Name: MELEWAR INDUSTRIAL GROUP BHD
Company Name: MELEWAR INDUSTRIAL GROUP BHD
| Research House: TA | Price Call: SELL | Target Price: 0.325 |
3QFY12 Results Report
Stock Name: TECNIC
Company Name: TECNIC GROUP BERHAD
Company Name: TECNIC GROUP BERHAD
| Research House: NETRESEARCH | Price Call: BUY | Target Price: 4.40 |
November 28, 2012
No snag to growth
Stock Name: TM
Company Name: TELEKOM MALAYSIA BHD
Company Name: TELEKOM MALAYSIA BHD
| Research House: MIDF | Price Call: BUY | Target Price: 6.75 |
Lower input price moderated by lower profit from associates
Stock Name: SUPERMX
Company Name: SUPERMAX CORPORATION BHD
Company Name: SUPERMAX CORPORATION BHD
| Research House: MIDF | Price Call: BUY | Target Price: 2.48 |
Weak demand hampers earnings
Stock Name: PCHEM
Company Name: PETRONAS CHEMICALS GROUP BHD
Company Name: PETRONAS CHEMICALS GROUP BHD
| Research House: MIDF | Price Call: HOLD | Target Price: 6.68 |
Decent result for the rest of the year
Stock Name: MAYBULK
Company Name: MALAYSIAN BULK CARRIERS BHD
Company Name: MALAYSIAN BULK CARRIERS BHD
| Research House: MIDF | Price Call: HOLD | Target Price: 1.53 |
Recapitalisation exercise to concrete turnaround plan
Stock Name: MAS
Company Name: MALAYSIAN AIRLINE SYSTEM BHD
Company Name: MALAYSIAN AIRLINE SYSTEM BHD
| Research House: MIDF | Price Call: HOLD | Target Price: 1.02 |
A 'red' beginning to the year
Stock Name: LIONIND
Company Name: LION INDUSTRIES CORPORATION
Company Name: LION INDUSTRIES CORPORATION
| Research House: MIDF | Price Call: HOLD | Target Price: 1.03 |
To exceed last year’s job replenishment value
Stock Name: SENDAI
Company Name: EVERSENDAI CORPORATION BERHAD
Company Name: EVERSENDAI CORPORATION BERHAD
| Research House: MIDF | Price Call: BUY | Target Price: 2.02 |
Ann Joo - 3QY12 Results Review
Stock Name: ANNJOO
Company Name: ANN JOO RESOURCES BHD
Company Name: ANN JOO RESOURCES BHD
| Research House: MIDF | Price Call: HOLD | Target Price: 1.31 |
FY13 Earnings to be Second Half Loaded
Stock Name: IRIS
Company Name: IRIS CORPORATION BHD
Company Name: IRIS CORPORATION BHD
| Research House: TA | Price Call: BUY | Target Price: 0.31 |
Bina Puri Holdings Bhd RR 3Q FY2012
Stock Name: BPURI
Company Name: BINA PURI HOLDINGS BHD
Company Name: BINA PURI HOLDINGS BHD
| Research House: WILSON & YORK | Price Call: HOLD | Target Price: 1.00 |
November 27, 2012
Kenanga revises Pos FY2013 forecast
Stock Name: POS
Company Name: POS MALAYSIA BHD
Kenanga Research has revised upwards Pos Malaysia Bhd's financial year 2013 forecast following the latter's bullish financial results for the six-month period ended Sept 30, 2012.
Yesterday, the postal services provider posted a higher pre-tax profit of RM43.73 million for the second quarter against RM42.89 million registered in the same period of 2011.
Its revenue increased to RM300.45 million from RM292.62 million previously.
For the six-month period, pre-tax profit increased to RM96.13 million from RM79.85 million in the same period of 2011 and revenue rose to RM611.76 million from RM579.85 million previously.
Kenanga Research said the six-month 2013 (6M13) results came above its expectations but were in line with consensus.
The 6M13 core net profit of RM67 million made up 48 per cent of the consensus's earnings but 65 per cent of its financial year (FY) 2013 full-year estimate, it added.
The research house has revised its FY13-14 estimates higher by 14 per cent and five per cent respectively.
"We factored in higher contribution from the courier business as well as the enhancement in the operating margin due to a higher transaction volume," it said.
Following this, Kenanga Research has maintained its "outperform" call on Pos Malaysia with higher target price of RM3.90 against RM3.70 previously.
Hong Leong Investment Bank (HLIB) also kept its "buy" recommendation on Pos Malaysia with unchanged target price of RM3.20.
"We continue to like Pos Malaysia for the potential synergistic effect arising from more tie-ups with DRB-Hicom Bhd, its undemanding valuation and relatively generous dividend payout," said HLIB.
Pos Malaysia has announced an interim gross dividend of 8.0 sen less 25 per cent tax or net dividend of six sen. -- Bernama
Company Name: POS MALAYSIA BHD
| Research House: HLG | Price Call: BUY | Target Price: 3.20 |
Kenanga Research has revised upwards Pos Malaysia Bhd's financial year 2013 forecast following the latter's bullish financial results for the six-month period ended Sept 30, 2012.
Yesterday, the postal services provider posted a higher pre-tax profit of RM43.73 million for the second quarter against RM42.89 million registered in the same period of 2011.
Its revenue increased to RM300.45 million from RM292.62 million previously.
For the six-month period, pre-tax profit increased to RM96.13 million from RM79.85 million in the same period of 2011 and revenue rose to RM611.76 million from RM579.85 million previously.
Kenanga Research said the six-month 2013 (6M13) results came above its expectations but were in line with consensus.
The 6M13 core net profit of RM67 million made up 48 per cent of the consensus's earnings but 65 per cent of its financial year (FY) 2013 full-year estimate, it added.
The research house has revised its FY13-14 estimates higher by 14 per cent and five per cent respectively.
"We factored in higher contribution from the courier business as well as the enhancement in the operating margin due to a higher transaction volume," it said.
Following this, Kenanga Research has maintained its "outperform" call on Pos Malaysia with higher target price of RM3.90 against RM3.70 previously.
Hong Leong Investment Bank (HLIB) also kept its "buy" recommendation on Pos Malaysia with unchanged target price of RM3.20.
"We continue to like Pos Malaysia for the potential synergistic effect arising from more tie-ups with DRB-Hicom Bhd, its undemanding valuation and relatively generous dividend payout," said HLIB.
Pos Malaysia has announced an interim gross dividend of 8.0 sen less 25 per cent tax or net dividend of six sen. -- Bernama
Unfortunate jobs delay in 3Q12 - but we rather look ahead!
Stock Name: WASEONG
Company Name: WAH SEONG CORPORATION BHD
Company Name: WAH SEONG CORPORATION BHD
| Research House: MIDF | Price Call: BUY | Target Price: 2.19 |
3QFY12 Results Report
Stock Name: SALCON
Company Name: SALCON BHD
Company Name: SALCON BHD
| Research House: NETRESEARCH | Price Call: BUY | Target Price: 0.78 |
Sarawak Plantation Berhad RR 3Q FY2012
Stock Name: SWKPLNT
Company Name: SARAWAK PLANTATION BHD
Company Name: SARAWAK PLANTATION BHD
| Research House: WILSON & YORK | Price Call: BUY | Target Price: 3.10 |
Genetec Technology Bhd RR 2Q FY2013
Stock Name: GENETEC
Company Name: GENETEC TECHNOLOGY BERHAD
Company Name: GENETEC TECHNOLOGY BERHAD
| Research House: WILSON & YORK | Price Call: HOLD | Target Price: 0.20 |
Healthy Earnings Momentum Envisaged
Stock Name: ALLIANZ
Company Name: ALLIANZ MALAYSIA BHD
Company Name: ALLIANZ MALAYSIA BHD
| Research House: TA | Price Call: HOLD | Target Price: 8.35 |
Hit by fewer LNG calls
Stock Name: BIPORT
Company Name: BINTULU PORT HOLDINGS BHD
Company Name: BINTULU PORT HOLDINGS BHD
| Research House: CIMB | Price Call: HOLD | Target Price: 7.20 |
Lower sales volume
Stock Name: MSM
Company Name: MSM MALAYSIA HOLDINGS BERHAD
Company Name: MSM MALAYSIA HOLDINGS BERHAD
| Research House: MIDF | Price Call: HOLD | Target Price: 4.43 |
Expect stronger performance in 4QFY12
Stock Name: SENDAI
Company Name: EVERSENDAI CORPORATION BERHAD
Company Name: EVERSENDAI CORPORATION BERHAD
| Research House: MIDF | Price Call: BUY | Target Price: 2.10 |
XL will be a slight drag to 3QFY12 result
Stock Name: AXIATA
Company Name: AXIATA GROUP BERHAD
Company Name: AXIATA GROUP BERHAD
| Research House: MIDF | Price Call: HOLD | Target Price: 6.00 |
November 26, 2012
9MFY12 Core Earnings Below Expectations
Stock Name: PETGAS
Company Name: PETRONAS GAS BHD
Company Name: PETRONAS GAS BHD
| Research House: TA | Price Call: SELL | Target Price: 16.75 |
3QFY12 Results Report
Stock Name: TALIWRK
Company Name: TALIWORKS CORPORATION BHD
Company Name: TALIWORKS CORPORATION BHD
| Research House: NETRESEARCH | Price Call: BUY | Target Price: 1.20 |
Affin cuts Petronas Gas target price
Stock Name: PETGAS
Company Name: PETRONAS GAS BHD
Affin Investment Bank cut its target price on Petronas Gas Bhd to RM16.60 from RM17.40, citing a project delay which may hurt the company's earnings next year.
"We downgrade our earnings per share for the next two years by 7.1 per cent to 16.8 per cent to account for lower-than-expected performance-based income, and to account for a six-month delay in the commissioning of the Melaka regasification terminal," said Affin in a report on Monday. It maintained a "reduce" call on the stock.
The company's net profit fell 18.9 per cent to RM310.5 million in the third quarter ended Sept. 30 after revenue from gas processing dropped by almost 30 per cent on lower export volumes.
Petronas Gas shares were down 0.53 per cent at RM18.80 as of 10.14am. -- Reuters
Company Name: PETRONAS GAS BHD
| Research House: AFFIN | Price Call: SELL | Target Price: 16.60 |
Affin Investment Bank cut its target price on Petronas Gas Bhd to RM16.60 from RM17.40, citing a project delay which may hurt the company's earnings next year.
"We downgrade our earnings per share for the next two years by 7.1 per cent to 16.8 per cent to account for lower-than-expected performance-based income, and to account for a six-month delay in the commissioning of the Melaka regasification terminal," said Affin in a report on Monday. It maintained a "reduce" call on the stock.
The company's net profit fell 18.9 per cent to RM310.5 million in the third quarter ended Sept. 30 after revenue from gas processing dropped by almost 30 per cent on lower export volumes.
Petronas Gas shares were down 0.53 per cent at RM18.80 as of 10.14am. -- Reuters
Earnings booster from Melaka LNG Re-Gas only in 2Q13
Stock Name: PETGAS
Company Name: PETRONAS GAS BHD
Company Name: PETRONAS GAS BHD
| Research House: MIDF | Price Call: HOLD | Target Price: 17.72 |
9M FY12 Results Surprise
Stock Name: ALLIANZ
Company Name: ALLIANZ MALAYSIA BHD
Company Name: ALLIANZ MALAYSIA BHD
| Research House: TA | Price Call: BUY | Target Price: 8.00 |
November 21, 2012
Let down by heavy industries and plantation
Stock Name: BSTEAD
Company Name: BOUSTEAD HOLDINGS BHD
Company Name: BOUSTEAD HOLDINGS BHD
| Research House: CIMB | Price Call: HOLD | Target Price: 5.32 |
November 20, 2012
RM3b sales target for FY13
Stock Name: MAHSING
Company Name: MAH SING GROUP BHD
Company Name: MAH SING GROUP BHD
| Research House: MIDF | Price Call: BUY | Target Price: 2.85 |
To play catch up in 2013
Stock Name: KONSORT
Company Name: KONSORTIUM LOGISTIK BHD
Company Name: KONSORTIUM LOGISTIK BHD
| Research House: MIDF | Price Call: BUY | Target Price: 1.15 |
Net translation gain elevate earnings
Stock Name: IOICORP
Company Name: IOI CORPORATION BHD
Company Name: IOI CORPORATION BHD
| Research House: MIDF | Price Call: HOLD | Target Price: 4.90 |
Betting on OUE consortium to win Fraser and Neave and take F&N private
Stock Name: F&N
Company Name: FRASER & NEAVE HOLDINGS BHD
Company Name: FRASER & NEAVE HOLDINGS BHD
| Research House: MIDF | Price Call: BUY | Target Price: 21.00 |
Non interest income and credit cost better than expected
Stock Name: AFFIN
Company Name: AFFIN HOLDINGS BHD
Company Name: AFFIN HOLDINGS BHD
| Research House: MIDF | Price Call: BUY | Target Price: 4.20 |
3QFY12 Results Report
Stock Name: BPPLAS
Company Name: BP PLASTICS HOLDING BHD
Company Name: BP PLASTICS HOLDING BHD
| Research House: NETRESEARCH | Price Call: BUY | Target Price: 0.71 |
Earnings Upcycle Not Over Yet
Stock Name: MAHSING
Company Name: MAH SING GROUP BHD
Company Name: MAH SING GROUP BHD
| Research House: TA | Price Call: BUY | Target Price: 3.02 |
9MFY12 Results Exceed Expectations
Stock Name: AFFIN
Company Name: AFFIN HOLDINGS BHD
Company Name: AFFIN HOLDINGS BHD
| Research House: TA | Price Call: BUY | Target Price: 4.40 |
Signs of Things to Come
Stock Name: IOICORP
Company Name: IOI CORPORATION BHD
Company Name: IOI CORPORATION BHD
| Research House: TA | Price Call: HOLD | Target Price: 5.64 |
'Overweight' call maintained on banking
Stock Name: MAYBANK
Company Name: MALAYAN BANKING BHD
Stock Name: PBBANK
Company Name: PUBLIC BANK BHD
Stock Name: RHBCAP
Company Name: RHB CAPITAL BHD
Stock Name: CIMB
Company Name: CIMB GROUP HOLDINGS BERHAD
Stock Name: AMBANK
Company Name: AMMB HOLDINGS BHD
Stock Name: BIMB
Company Name: BIMB HOLDINGS BHD
KUALA LUMPUR: Kenanga Research has maintained its "overweight" call on the banking sector, as it believes the local banking group will do well in the current conducive banking system with their strong balance sheets and improving earnings.
"We are seeing more evidence that the 'Responsible Lending Guidelines' by Bank Negara Malaysia is already bringing some changes to the banking industry arena," the research firm said in a note.
It expects the softer trading conditions at present to persist in the short term, and, if markets do recover, Maybank and CIMB should see the biggest recovery in their non-interest income earnings in the industry.
Kenanga Research has 'outperform' calls on Maybank with a target price (TP) of RM10.40, PBBANK (TP:RM15.60), RHBCAP (TP:RM8.30), CIMB (TP:RM8.20), AMMB (TP:RM7.40), AFFIN (TP:RM4.40) and BIMB (TP:3.60).
AFG(TP:RM4.00) and HLBANK (TP:RM15.20) are rated as 'neutral'. -- BERNAMA
Company Name: MALAYAN BANKING BHD
| Research House: KENANGA | Price Call: BUY | Target Price: 10.40 |
Stock Name: PBBANK
Company Name: PUBLIC BANK BHD
| Research House: KENANGA | Price Call: BUY | Target Price: 15.60 |
Stock Name: RHBCAP
Company Name: RHB CAPITAL BHD
| Research House: KENANGA | Price Call: BUY | Target Price: 8.30 |
Stock Name: CIMB
Company Name: CIMB GROUP HOLDINGS BERHAD
| Research House: KENANGA | Price Call: BUY | Target Price: 8.20 |
Stock Name: AMBANK
Company Name: AMMB HOLDINGS BHD
| Research House: KENANGA | Price Call: BUY | Target Price: 7.40 |
Stock Name: BIMB
Company Name: BIMB HOLDINGS BHD
| Research House: KENANGA | Price Call: BUY | Target Price: 3.60 |
KUALA LUMPUR: Kenanga Research has maintained its "overweight" call on the banking sector, as it believes the local banking group will do well in the current conducive banking system with their strong balance sheets and improving earnings.
"We are seeing more evidence that the 'Responsible Lending Guidelines' by Bank Negara Malaysia is already bringing some changes to the banking industry arena," the research firm said in a note.
It expects the softer trading conditions at present to persist in the short term, and, if markets do recover, Maybank and CIMB should see the biggest recovery in their non-interest income earnings in the industry.
Kenanga Research has 'outperform' calls on Maybank with a target price (TP) of RM10.40, PBBANK (TP:RM15.60), RHBCAP (TP:RM8.30), CIMB (TP:RM8.20), AMMB (TP:RM7.40), AFFIN (TP:RM4.40) and BIMB (TP:3.60).
AFG(TP:RM4.00) and HLBANK (TP:RM15.20) are rated as 'neutral'. -- BERNAMA
Malaysian Genomics Resource Centre - 1QFY13 RESULTS - Defective genes
Stock Name: MGRC
Company Name: MSIAN GENOMICS RES CENTRE BHD
Company Name: MSIAN GENOMICS RES CENTRE BHD
| Research House: CIMB | Price Call: SELL | Target Price: 0.26 |
November 19, 2012
Front runner for RM3b freight relief line?
Stock Name: MRCB
Company Name: MALAYSIAN RESOURCES CORP
Company Name: MALAYSIAN RESOURCES CORP
| Research House: MIDF | Price Call: BUY | Target Price: 2.07 |
Increasing exposure in offshore logistics
Stock Name: MAYBULK
Company Name: MALAYSIAN BULK CARRIERS BHD
Company Name: MALAYSIAN BULK CARRIERS BHD
| Research House: MIDF | Price Call: HOLD | Target Price: 1.53 |
Additional Investment into POSH
Stock Name: MAYBULK
Company Name: MALAYSIAN BULK CARRIERS BHD
Company Name: MALAYSIAN BULK CARRIERS BHD
| Research House: TA | Price Call: SELL | Target Price: 1.24 |
Affin cuts rating on Parkson Holdings
Stock Name: PARKSON
Company Name: PARKSON HOLDINGS BHD
Affin Investment Bank cut its rating on Parkson Holdings Bhd to 'reduce' from 'buy', following its retail unit's disappointing earnings in the first nine months of the year due to uncertain operating conditions in China.
Parkson Retail Group's surprising weaker year-to-date same-store-sales growth was caused by a slowdown in China's consumer spending and gross domestic product, the research house said on Monday.
Parkson's third-quarter core net profit plunged 42 percent year-on-year because of losses at new stores, rental hikes and high costs in its e-commerce segment, Affin added.
Affin lowered its target price on Parkson Holdings to RM4.84 from RM5.35.
As of 0154 GMT, Parkson shares were down 3.2 per cent, underperforming the Malaysian benchmark index which dropped 0.2 percent. - Reuters
Company Name: PARKSON HOLDINGS BHD
| Research House: AFFIN | Price Call: BUY | Target Price: 4.84 |
Affin Investment Bank cut its rating on Parkson Holdings Bhd to 'reduce' from 'buy', following its retail unit's disappointing earnings in the first nine months of the year due to uncertain operating conditions in China.
Parkson Retail Group's surprising weaker year-to-date same-store-sales growth was caused by a slowdown in China's consumer spending and gross domestic product, the research house said on Monday.
Parkson's third-quarter core net profit plunged 42 percent year-on-year because of losses at new stores, rental hikes and high costs in its e-commerce segment, Affin added.
Affin lowered its target price on Parkson Holdings to RM4.84 from RM5.35.
As of 0154 GMT, Parkson shares were down 3.2 per cent, underperforming the Malaysian benchmark index which dropped 0.2 percent. - Reuters
November 16, 2012
A Good Start to FY13
Stock Name: HLBANK
Company Name: HONG LEONG BANK BHD
Company Name: HONG LEONG BANK BHD
| Research House: TA | Price Call: SELL | Target Price: 13.80 |
9M FY12 Well Within Estimates
Stock Name: AMWAY
Company Name: AMWAY (M) HOLDINGS BHD
Company Name: AMWAY (M) HOLDINGS BHD
| Research House: TA | Price Call: SELL | Target Price: 12.25 |
Loan growth remained lacklustre
Stock Name: HLBANK
Company Name: HONG LEONG BANK BHD
Company Name: HONG LEONG BANK BHD
| Research House: MIDF | Price Call: HOLD | Target Price: 13.60 |
Margin Pressure
Stock Name: YSPSAH
Company Name: Y.S.P.SOUTHEAST ASIA HOLDING
Company Name: Y.S.P.SOUTHEAST ASIA HOLDING
| Research House: TA | Price Call: HOLD | Target Price: 1.19 |
Enters FPSO venture
Stock Name: PERISAI
Company Name: PERISAI PETROLEUM TEKNOLOGI
Company Name: PERISAI PETROLEUM TEKNOLOGI
| Research House: TA | Price Call: BUY | Target Price: 1.31 |
November 14, 2012
Bracing for Challenging Times
Stock Name: AFFIN
Company Name: AFFIN HOLDINGS BHD
Company Name: AFFIN HOLDINGS BHD
| Research House: TA | Price Call: BUY | Target Price: 4.30 |
3Q/FY12 results - revenue within expectations. Maintain Hold Call.
Stock Name: TOMEI
Company Name: TOMEI CONSOLIDATED BHD
Company Name: TOMEI CONSOLIDATED BHD
| Research House: MERCURY | Price Call: HOLD | Target Price: 0.77 |
November 13, 2012
Update Report
Stock Name: SALCON
Company Name: SALCON BHD
Company Name: SALCON BHD
| Research House: NETRESEARCH | Price Call: BUY | Target Price: 0.78 |
November 12, 2012
3Q/FY12 results - within expectations. Maintain Hold Call.
Stock Name: HANDAL
Company Name: HANDAL RESOURCES BERHAD
Company Name: HANDAL RESOURCES BERHAD
| Research House: MERCURY | Price Call: HOLD | Target Price: 0.45 |
3QFY12 Results Report
Stock Name: GWPLAST
Company Name: GW PLASTICS HLDG BHD
Company Name: GW PLASTICS HLDG BHD
| Research House: NETRESEARCH | Price Call: HOLD | Target Price: 1.19 |
Dairy Malaysia & Thailand, Near Term Catalyst
Stock Name: F&N
Company Name: FRASER & NEAVE HOLDINGS BHD
Company Name: FRASER & NEAVE HOLDINGS BHD
| Research House: TA | Price Call: SELL | Target Price: 19.03 |
9M FY12 Results Broadly Within Expectations
Stock Name: MAYBANK
Company Name: MALAYAN BANKING BHD
Company Name: MALAYAN BANKING BHD
| Research House: TA | Price Call: BUY | Target Price: 11.30 |
Affin raises Gas Malaysia target price
Stock Name: GASMSIA
Company Name: GAS MALAYSIA BERHAD
Affin Investment Bank raised its target price on Gas Malaysia Bhd shares to RM3 from RM2.80 as the company has secured customers to take up all the additional gas supply for 2013 and 2014 financial years.
About 25 percent extra gas supply kicks in after Petronas Gas starts up its regasification plant in central Malaysia by end-January 2013, Affin said, helping Gas Malaysia lift revenue growth by 8.8 percent for both financial years.
Affin maintained its "add" call on the stock. Gas Malaysia shares were unchanged in morning trade, compared with the broader market that inched lower at 0158 GMT.
Gas Malaysia is the only firm licensed to supply and sell natural gas in mainland Malaysia where demand has been steadily growing. -- Reuters
Company Name: GAS MALAYSIA BERHAD
| Research House: AFFIN | Price Call: BUY | Target Price: 3.00 |
Affin Investment Bank raised its target price on Gas Malaysia Bhd shares to RM3 from RM2.80 as the company has secured customers to take up all the additional gas supply for 2013 and 2014 financial years.
About 25 percent extra gas supply kicks in after Petronas Gas starts up its regasification plant in central Malaysia by end-January 2013, Affin said, helping Gas Malaysia lift revenue growth by 8.8 percent for both financial years.
Affin maintained its "add" call on the stock. Gas Malaysia shares were unchanged in morning trade, compared with the broader market that inched lower at 0158 GMT.
Gas Malaysia is the only firm licensed to supply and sell natural gas in mainland Malaysia where demand has been steadily growing. -- Reuters
Strong sales momentum intact
Stock Name: UOADEV
Company Name: UOA DEVELOPMENT BERHAD
Company Name: UOA DEVELOPMENT BERHAD
| Research House: MIDF | Price Call: BUY | Target Price: 2.07 |
Still a sequential increase in net profit in 3QFY12
Stock Name: MAYBANK
Company Name: MALAYAN BANKING BHD
Company Name: MALAYAN BANKING BHD
| Research House: MIDF | Price Call: BUY | Target Price: 10.20 |
LBS Bina Group - Transformed developer
Stock Name: LBS
Company Name: LBS BINA GROUP BHD
Company Name: LBS BINA GROUP BHD
| Research House: MIDF | Price Call: BUY | Target Price: 1.02 |
Replacing the void that Coke left
Stock Name: F&N
Company Name: FRASER & NEAVE HOLDINGS BHD
Company Name: FRASER & NEAVE HOLDINGS BHD
| Research House: MIDF | Price Call: SELL | Target Price: 15.17 |
November 9, 2012
FY12 Earnings Spot On
Stock Name: F&N
Company Name: FRASER & NEAVE HOLDINGS BHD
Company Name: FRASER & NEAVE HOLDINGS BHD
| Research House: TA | Price Call: SELL | Target Price: 19.33 |
Affin cuts target price on Unisem
Stock Name: UNISEM
Company Name: UNISEM (M) BHD
Affin Investment Bank cut its target price on Unisem Berhad to RM1.36 from RM1.38 after the semiconductor firm's third-quarter results came in slightly below the bank's expectations.
Affin said a slower-than-expected recovery in global demand for Unisem products could pose a risk to its 'add' call on the stock.
Unisem returned to the black after registering losses in the three previous quarters. The company reported a 58 percent rise in net profit for the third quarter compared with a year earlier, helped by lower operating expenses, higher foreign exchange gains and changes in product mix, it said in a Bursa Malaysia filing on Thursday.
Affin attributed the turnaround to, among others, "further cost discipline by the group" and "improvement in product mix."
At 10.17am, Unisem was up RM2.63 at RM0.975 while the benchmark composite index was down 0.26 percent at 1,636.84 points.
Company Name: UNISEM (M) BHD
| Research House: AFFIN | Price Call: BUY | Target Price: 1.36 |
Affin Investment Bank cut its target price on Unisem Berhad to RM1.36 from RM1.38 after the semiconductor firm's third-quarter results came in slightly below the bank's expectations.
Affin said a slower-than-expected recovery in global demand for Unisem products could pose a risk to its 'add' call on the stock.
Unisem returned to the black after registering losses in the three previous quarters. The company reported a 58 percent rise in net profit for the third quarter compared with a year earlier, helped by lower operating expenses, higher foreign exchange gains and changes in product mix, it said in a Bursa Malaysia filing on Thursday.
Affin attributed the turnaround to, among others, "further cost discipline by the group" and "improvement in product mix."
At 10.17am, Unisem was up RM2.63 at RM0.975 while the benchmark composite index was down 0.26 percent at 1,636.84 points.
Strong quarterly rebound as manufacturing shines
Stock Name: MBMR
Company Name: MBM RESOURCES BHD
Company Name: MBM RESOURCES BHD
| Research House: MIDF | Price Call: BUY | Target Price: 4.53 |
Higher dividend in the horizon
Stock Name: KOSSAN
Company Name: KOSSAN RUBBER INDUSTRIES BHD
Company Name: KOSSAN RUBBER INDUSTRIES BHD
| Research House: MIDF | Price Call: BUY | Target Price: 3.71 |
Picking up the pieces
Stock Name: F&N
Company Name: FRASER & NEAVE HOLDINGS BHD
Company Name: FRASER & NEAVE HOLDINGS BHD
| Research House: MIDF | Price Call: SELL | Target Price: 15.17 |
Earnings bottoming out
Stock Name: CENTURY
Company Name: CENTURY LOGISTICS HOLDINGS BHD
Company Name: CENTURY LOGISTICS HOLDINGS BHD
| Research House: MIDF | Price Call: HOLD | Target Price: 1.96 |
Exceptional recoveries in 1HFY13 unlikely to be repeated in 2HFY13
Stock Name: AMBANK
Company Name: AMMB HOLDINGS BHD
Company Name: AMMB HOLDINGS BHD
| Research House: MIDF | Price Call: HOLD | Target Price: 6.60 |
November 8, 2012
CI Holdings - 1QFY13 RESULTS - Slowdown in tapware business
Stock Name: CIHLDG
Company Name: C.I. HOLDINGS BHD
Company Name: C.I. HOLDINGS BHD
| Research House: CIMB | Price Call: SELL | Target Price: 0.73 |
MIDF raises Gas Malaysia target price
Stock Name: GASMSIA
Company Name: GAS MALAYSIA BERHAD
MIDF Research raised its target price on Gas Malaysia Bhd to RM3.11 from RM2.84 after the gas provider's nine-month earnings came in above market expectations.
"As of yesterday's closing (RM2.62 per share), Gas Malaysia could still provide investors with a dividend yield of 4.5 percent and 4.3 percent for the financial year ending Dec.
31, 2012 (FY12) and FY13 respectively," the research house said in a note on Thursday.
Maintaining "buy" on the counter, MIDF said it was increasing its FY12 and FY13 earnings forecasts by 7.8 percent and 9.5 percent, respectively.
However, the counter declined 0.38 percent by 0134 GMT, underperforming the benchmark stock index's 0.17 percent drop. -- Reuters
Company Name: GAS MALAYSIA BERHAD
| Research House: MIDF | Price Call: BUY | Target Price: 3.11 |
MIDF Research raised its target price on Gas Malaysia Bhd to RM3.11 from RM2.84 after the gas provider's nine-month earnings came in above market expectations.
"As of yesterday's closing (RM2.62 per share), Gas Malaysia could still provide investors with a dividend yield of 4.5 percent and 4.3 percent for the financial year ending Dec.
31, 2012 (FY12) and FY13 respectively," the research house said in a note on Thursday.
Maintaining "buy" on the counter, MIDF said it was increasing its FY12 and FY13 earnings forecasts by 7.8 percent and 9.5 percent, respectively.
However, the counter declined 0.38 percent by 0134 GMT, underperforming the benchmark stock index's 0.17 percent drop. -- Reuters
November 7, 2012
MIDF cuts Hartalega to 'neutral'
Stock Name: HARTA
Company Name: HARTALEGA HOLDINGS BHD
MIDF Research downgraded Hartalega Holdings Bhd, the world's top synthetic glove maker, to a "neutral" from "buy" after shares of the company reached an all-time high.
"The stock has increased significantly in the last few months, appreciating 65.7 percent year-to-date and is currently trading at its highest level. At this juncture, we believe there is limited upside potential for price appreciation in the near term," said MIDF in a report on Wednesday.
It maintained a target price of RM5.10 for the stock.
The stock was buoyed by the company's improved earnings for the first half of 2013 financial year. Revenue rose 12 percent to RM502.7 million, while net profit rose 10.9 percent to RM111.9 million, according to MIDF.
Hartalega shares were up 1.84 percent at RM4.98. -- Reuters
Company Name: HARTALEGA HOLDINGS BHD
| Research House: MIDF | Price Call: HOLD | Target Price: 5.10 |
MIDF Research downgraded Hartalega Holdings Bhd, the world's top synthetic glove maker, to a "neutral" from "buy" after shares of the company reached an all-time high.
"The stock has increased significantly in the last few months, appreciating 65.7 percent year-to-date and is currently trading at its highest level. At this juncture, we believe there is limited upside potential for price appreciation in the near term," said MIDF in a report on Wednesday.
It maintained a target price of RM5.10 for the stock.
The stock was buoyed by the company's improved earnings for the first half of 2013 financial year. Revenue rose 12 percent to RM502.7 million, while net profit rose 10.9 percent to RM111.9 million, according to MIDF.
Hartalega shares were up 1.84 percent at RM4.98. -- Reuters
2QFY13 Result Review - Numbers are going steadily
Stock Name: HARTA
Company Name: HARTALEGA HOLDINGS BHD
Company Name: HARTALEGA HOLDINGS BHD
| Research House: BIMB | Price Call: HOLD | Target Price: 5.08 |
1QFY13 - Results Update
Stock Name: GDEX
Company Name: GD EXPRESS CARRIER BHD
Company Name: GD EXPRESS CARRIER BHD
| Research House: NETRESEARCH | Price Call: HOLD | Target Price: 1.45 |
Acquiring Jalan Cochrane Land from LTAT
Stock Name: BSTEAD
Company Name: BOUSTEAD HOLDINGS BHD
Company Name: BOUSTEAD HOLDINGS BHD
| Research House: TA | Price Call: BUY | Target Price: 6.35 |
November 6, 2012
1QFY13 results review
Stock Name: TMCLIFE
Company Name: TMC LIFE SCIENCES BHD
Company Name: TMC LIFE SCIENCES BHD
| Research House: NETRESEARCH | Price Call: BUY | Target Price: 0.42 |
Expands Drilling Business
Stock Name: SKPETRO
Company Name: SAPURAKENCANA PETROLEUM BHD
Company Name: SAPURAKENCANA PETROLEUM BHD
| Research House: TA | Price Call: BUY | Target Price: 3.46 |
Poised to be the biggest tender rigs owner in the world
Stock Name: SKPETRO
Company Name: SAPURAKENCANA PETROLEUM BHD
Company Name: SAPURAKENCANA PETROLEUM BHD
| Research House: MIDF | Price Call: BUY | Target Price: 3.96 |
Lower commodity prices, but the good times not likely to last
Stock Name: NESTLE
Company Name: NESTLE (M) BHD
Company Name: NESTLE (M) BHD
| Research House: MIDF | Price Call: HOLD | Target Price: 59.52 |
Yet to diversify from its high concentration in personal loans
Stock Name: MBSB
Company Name: MALAYSIA BUILDING SOCIETY BHD
Company Name: MALAYSIA BUILDING SOCIETY BHD
| Research House: MIDF | Price Call: HOLD | Target Price: 2.45 |
FY13 Earnings Growth Intact
Stock Name: SKPRES
Company Name: SKP RESOURCES BHD
Company Name: SKP RESOURCES BHD
| Research House: TA | Price Call: BUY | Target Price: 0.58 |
November 5, 2012
WCT shares rise on land purchase news
KUALA LUMPUR: Construction and property development
company, WCT Bhd's share price rose one sen to RM2.75 following news that the company had acquired 7.33 hectares (18.12 acres) of land in Medini, Iskandar Johor, worth RM99.4 million.
The counter, which moved between RM2.72 and RM2.75, saw 130,300
shares traded.
The venture marks WCT's third property development project in the Iskandar region and is earmarked for a mixed commercial development with an estimated gross development value of RM1.5 billion.
Kenanga Research said the acquisition is a positive move as WCT will be able to secure the earthworks job for the Tun Razak Exchange and the Refinery and Petrochemicals Integrated Development (RAPID) project in the near term.
"We are positive on this acquisition and believe that it is the right time for WCT to expand its property exposure in the Iskandar area," Kenanga Research said in a note today.
The research house has maintained its "outperform" recommendation on WCT with a higher target price (TP) of RM3.17 against RM2.74 previously.
Hong Leong Investment Bank (HLIB) said earnings from this development are expected to kick in from financial year 2014 onwards.
It also maintained its "buy" call on WCT with an unchanged TP of RM3.31. -- BERNAMA
4QFY12 Results Report
Stock Name: BSLCORP
Company Name: BSL CORPORATION BERHAD
Company Name: BSL CORPORATION BERHAD
| Research House: NETRESEARCH | Price Call: HOLD | Target Price: 0.28 |
3Q/FY12 results - within expectations. Maintain Buy Call.
Stock Name: MBSB
Company Name: MALAYSIA BUILDING SOCIETY BHD
Company Name: MALAYSIA BUILDING SOCIETY BHD
| Research House: MERCURY | Price Call: BUY | Target Price: 2.66 |
Affin raises Petra Energy to 'add'
Stock Name: PENERGY
Company Name: PETRA ENERGY BHD
Affin Investment Bank raised its call on oil and gas services firm Petra Energy Bhd to "add" from "reduce", citing stronger earnings growth from its recently acquired service contracts.
The research house lifted its earnings forecast for the financial years of 2013 and 2014 by 23.9 percent and 38.3 percent after pencilling in profit contributions from the Kapal, Banang, Meranti (KBM) risk service contract and the Gumusut-Kakap offshore service contract.
Affin also revised Petra Energy's target price to RM1.95 from RM1.62 previously. -- Reuters
Company Name: PETRA ENERGY BHD
| Research House: AFFIN | Price Call: TRADING BUY | Target Price: 1.95 |
Affin Investment Bank raised its call on oil and gas services firm Petra Energy Bhd to "add" from "reduce", citing stronger earnings growth from its recently acquired service contracts.
The research house lifted its earnings forecast for the financial years of 2013 and 2014 by 23.9 percent and 38.3 percent after pencilling in profit contributions from the Kapal, Banang, Meranti (KBM) risk service contract and the Gumusut-Kakap offshore service contract.
Affin also revised Petra Energy's target price to RM1.95 from RM1.62 previously. -- Reuters
RHB ups Parkson's fair value
Stock Name: PARKSON
Company Name: PARKSON HOLDINGS BHD
RHB Research raised its fair value estimate on shares of Parkson Holdings Bhd to RM5.32 from RM4.90, citing the retailer's expansion plans.
Parkson shares were flat at RM5.20, while the benchmark composite index was down 0.07 percent at 1654.94.
Parkson's operations in China will continue to be a key driver for the company's prospects, with 8 to 10 stores opening annually in smaller cities, RHB said in a note on Monday.
The company's operations in Indonesia is growing steadily and it plans to open stores in Cambodia and Myanmar in 2013, the brokerage said. In Malaysia, the firm's wholly-owned shopping mall, KL Festival City, contributed to operating profit positively in 2012, RHB said.
However, Parkson's shares could be hurt by a slowdown in consumer spending in China and if expenses on new stores and malls exceed expectations, it added. -- Reuters
Company Name: PARKSON HOLDINGS BHD
| Research House: RHB | Price Call: BUY | Target Price: 5.32 |
RHB Research raised its fair value estimate on shares of Parkson Holdings Bhd to RM5.32 from RM4.90, citing the retailer's expansion plans.
Parkson shares were flat at RM5.20, while the benchmark composite index was down 0.07 percent at 1654.94.
Parkson's operations in China will continue to be a key driver for the company's prospects, with 8 to 10 stores opening annually in smaller cities, RHB said in a note on Monday.
The company's operations in Indonesia is growing steadily and it plans to open stores in Cambodia and Myanmar in 2013, the brokerage said. In Malaysia, the firm's wholly-owned shopping mall, KL Festival City, contributed to operating profit positively in 2012, RHB said.
However, Parkson's shares could be hurt by a slowdown in consumer spending in China and if expenses on new stores and malls exceed expectations, it added. -- Reuters
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