Stock Name: CENTURY
Company Name: CENTURY LOGISTICS HOLDINGS BHD
Company Name: CENTURY LOGISTICS HOLDINGS BHD
| Research House: MERCURY | Price Call: HOLD | Target Price: 1.90 |
August 10, 2012
2QFY12 Results Report
Stock Name: GWPLAST
Company Name: GW PLASTICS HLDG BHD
Company Name: GW PLASTICS HLDG BHD
| Research House: NETRESEARCH | Price Call: BUY | Target Price: 0.84 |
Earnings dragged by STS operations
Stock Name: CENTURY
Company Name: CENTURY LOGISTICS HOLDINGS BHD
Company Name: CENTURY LOGISTICS HOLDINGS BHD
| Research House: MIDF | Price Call: HOLD | Target Price: 1.72 |
Robust vehicle sales
Stock Name: MBMR
Company Name: MBM RESOURCES BHD
Company Name: MBM RESOURCES BHD
| Research House: MIDF | Price Call: BUY | Target Price: 4.53 |
Sliding market share
Stock Name: JTINTER
Company Name: JT INTERNATIONAL BHD
Company Name: JT INTERNATIONAL BHD
| Research House: MIDF | Price Call: HOLD | Target Price: 6.80 |
Mild Seven Growing Market Share
Stock Name: JTINTER
Company Name: JT INTERNATIONAL BHD
Company Name: JT INTERNATIONAL BHD
| Research House: TA | Price Call: SELL | Target Price: 7.10 |
MIDF ups MBM Resources to 'buy'
MIDF Research upgraded MBM Resources Bhd to "buy" from "neutral," raising target price to RM4.53 from RM3.40, citing strong confidence on the company's plans to become a major car assembler and distributor from a dealership operator.
This comes despite the company's first half ended June 30, 2012 financial performance lagged the consensus' estimates.
"We believe in MBM's future plans," MIDF said in a research note on Friday. MIDF expects MBM's second half to improve given the pent-up demand and better year-on-year performance for the company's vehicle sales and autoparts.
By 0315 GMT, shares of the company remained unchanged at RM3.92, while the broader index dropped 0.08 percent. -- Reuters
August 9, 2012
Update Report
Stock Name: NHFATT
Company Name: NEW HOONG FATT HOLDINGS BHD
Company Name: NEW HOONG FATT HOLDINGS BHD
| Research House: NETRESEARCH | Price Call: BUY | Target Price: 2.80 |
2Q/FY12 results - at lower-end of expected range. Maintain Hold Call.
Stock Name: ECS
Company Name: ECS ICT BERHAD
Company Name: ECS ICT BERHAD
| Research House: MERCURY | Price Call: HOLD | Target Price: 1.70 |
Steady Earnings Delivery
Stock Name: PERISAI
Company Name: PERISAI PETROLEUM TEKNOLOGI
Company Name: PERISAI PETROLEUM TEKNOLOGI
| Research House: TA | Price Call: BUY | Target Price: 1.26 |
MIDF upbeat on KPJ's RM3.59m land sale
Stock Name: KPJ
Company Name: KPJ HEALTHCARE BHD
KUALA LUMPUR: MIDF Research is positive on KPJ Healthcare
Bhd's sale and purchase agreement with Al-Aqra Healthcare Real Estate Investment Trust to dispose two pieces of land in Johor Baru for RM3.59 million.
The agreement was signed by KPJ Healthcare's wholly-owned subsidiary, Puteri Specialist Hospital (Johor) Sdn Bhd.
The research house said the agreement would pave the way for Puteri Specialist Hospital's expansion in consistent with KPJ Healthcare's asset light strategy.
"Based on its proven track record, we're confident the company's management will be able to sustain KPJ Healthcare's growth momentum, maintaining its top line growth rate and preserving its profitability.
"KPJ Healthcare is expected to gain RM1.53 million from the disposal, resulting in 0.27 sen improvement in earnings per share for the 2012 revenue," it said in a research note.
MIDF Research said KPJ Healthcare's share price saw strong positive movements over the last few months, which they believe was part of the positive spillover effects from IHH Healthcare's dual listing recently.
However, due to KPJ Healthcare's growth potential, the research house believes there was still ample upside for the stock in the long run.
The research firm maintained "buy" recommendation for KPJ Healthcare, with RM6.98 unchanged target price. -- BERNAMA
Company Name: KPJ HEALTHCARE BHD
| Research House: MIDF | Price Call: BUY | Target Price: 6.98 |
KUALA LUMPUR: MIDF Research is positive on KPJ Healthcare
Bhd's sale and purchase agreement with Al-Aqra Healthcare Real Estate Investment Trust to dispose two pieces of land in Johor Baru for RM3.59 million.
The agreement was signed by KPJ Healthcare's wholly-owned subsidiary, Puteri Specialist Hospital (Johor) Sdn Bhd.
The research house said the agreement would pave the way for Puteri Specialist Hospital's expansion in consistent with KPJ Healthcare's asset light strategy.
"Based on its proven track record, we're confident the company's management will be able to sustain KPJ Healthcare's growth momentum, maintaining its top line growth rate and preserving its profitability.
"KPJ Healthcare is expected to gain RM1.53 million from the disposal, resulting in 0.27 sen improvement in earnings per share for the 2012 revenue," it said in a research note.
MIDF Research said KPJ Healthcare's share price saw strong positive movements over the last few months, which they believe was part of the positive spillover effects from IHH Healthcare's dual listing recently.
However, due to KPJ Healthcare's growth potential, the research house believes there was still ample upside for the stock in the long run.
The research firm maintained "buy" recommendation for KPJ Healthcare, with RM6.98 unchanged target price. -- BERNAMA
August 8, 2012
Finding the Catalyst
Stock Name: FGV
Company Name: FELDA GLOBAL VENTURES HLDG BHD
Company Name: FELDA GLOBAL VENTURES HLDG BHD
| Research House: TA | Price Call: HOLD | Target Price: 5.42 |
Deferred Tax Assets to Boost Full Year Earnings
Stock Name: F&N
Company Name: FRASER & NEAVE HOLDINGS BHD
Company Name: FRASER & NEAVE HOLDINGS BHD
| Research House: TA | Price Call: SELL | Target Price: 18.22 |
GasMalaysia - Drop in earnings expected due to narrower margin
Stock Name: GASMSIA
Company Name: GAS MALAYSIA BERHAD
Company Name: GAS MALAYSIA BERHAD
| Research House: MIDF | Price Call: BUY | Target Price: 2.84 |
SUNREIT - On acquisition mode
Stock Name: SUNREIT
Company Name: SUNWAY REAL ESTATE INVT TRUST
Company Name: SUNWAY REAL ESTATE INVT TRUST
| Research House: MIDF | Price Call: BUY | Target Price: 1.62 |
Hartalega - Margin stabilizing
Stock Name: HARTA
Company Name: HARTALEGA HOLDINGS BHD
Company Name: HARTALEGA HOLDINGS BHD
| Research House: MIDF | Price Call: BUY | Target Price: 5.10 |
August 7, 2012
Yield is low but a good option to conserve capital
Stock Name: PAVREIT
Company Name: PAVILION REAL ESTATE INV TRUST
Company Name: PAVILION REAL ESTATE INV TRUST
| Research House: MIDF | Price Call: HOLD | Target Price: 1.32 |
The nitrile king
Stock Name: HARTA
Company Name: HARTALEGA HOLDINGS BHD
Company Name: HARTALEGA HOLDINGS BHD
| Research House: MIDF | Price Call: BUY | Target Price: 5.10 |
'Kim Loong's 2013 earnings may be lower'
KUALA LUMPUR: Kim Loong Resources Bhd's (KIML) earnings for 2013 is expected to be lower, year-on-year, (YoY) given the company's
current poor production, a research house said today.
Alliance Research said the plantation company's fresh fruit bunches production for the five months financial year 2013 period was 36.1 per cent lower, YoY, and crude palm oil production declined 23.6 per cent, YoY.
The decline was largely because of replanting activities and tree stress after financial year 2012's bumper crop, it said.
Production for the rest of the year was not expected to catch up with levels seen in FY12.
"We are forecasting a 11 per cent decline in net profits in 2013
earnings and flat earnings going into 2014," it added.
Nevertheless, Alliance Research has recommended a 'neutral call on KIML at target price of RM2.65 per share. -- BERNAMA
Pavilion REIT's earnings forecast raised
Stock Name: PAVREIT
Company Name: PAVILION REAL ESTATE INV TRUST
KUALA LUMPUR: Maybank Kim Eng Research has raised the financial year 2012-2014 earnings forecast of Pavilion Real Estate
Investment Trust (Pavilion REIT)by eight to 8.4 per cent.
It also factored in a higher rental growth and turnover rent as well as higher occupancy rate.
Maybank Kim Eng in a research note today said Pavilion REIT's first half net profit of RM95.6 million was above the research house and consensus expectations at 55 to 56 per cent.
"This was due mainly to higher-than-expected retail turnover rent and rental hikes," it said.
Going forward, it said piling works of the Pavilion KL Mall extension will commence in the third quarter, whilst construction of the sub-urban mall in Subang Jaya is ahead of schedule.
"As for the Fahrenheit 88 mall, the management is monitoring the leases due for renewal in the third quarter, rental reversions and tenancy profile.
"When acquired, we expect these properties to raise Pavilion REIT's asset size by more than 41 per cent from RM3.6 billion currently," it added.
Maybank Kim Eng has maintained a "hold" call on Pavilion REIT but revised upward the target price to RM1.40 from RM1.26 previously. -- BERNAMA
Company Name: PAVILION REAL ESTATE INV TRUST
| Research House: MAYBANK | Price Call: HOLD | Target Price: 1.40 |
KUALA LUMPUR: Maybank Kim Eng Research has raised the financial year 2012-2014 earnings forecast of Pavilion Real Estate
Investment Trust (Pavilion REIT)by eight to 8.4 per cent.
It also factored in a higher rental growth and turnover rent as well as higher occupancy rate.
Maybank Kim Eng in a research note today said Pavilion REIT's first half net profit of RM95.6 million was above the research house and consensus expectations at 55 to 56 per cent.
"This was due mainly to higher-than-expected retail turnover rent and rental hikes," it said.
Going forward, it said piling works of the Pavilion KL Mall extension will commence in the third quarter, whilst construction of the sub-urban mall in Subang Jaya is ahead of schedule.
"As for the Fahrenheit 88 mall, the management is monitoring the leases due for renewal in the third quarter, rental reversions and tenancy profile.
"When acquired, we expect these properties to raise Pavilion REIT's asset size by more than 41 per cent from RM3.6 billion currently," it added.
Maybank Kim Eng has maintained a "hold" call on Pavilion REIT but revised upward the target price to RM1.40 from RM1.26 previously. -- BERNAMA
Gamuda on track to post record earnings
Stock Name: GAMUDA
Company Name: GAMUDA BHD
KUALA LUMPUR: Maybank Kim Eng Research has maintained Gamuda Bhd's financial year 2012 net profit growth of 26 per cent amid good earnings visibility from a strong outstanding construction order book, record unbilled property sales and recurring earnings from its toll and water concessions.
Maybank Kim Eng in a research note today said the construction company was on track to post record earnings this year.
"Growth will be underpinned by an uptick in construction margins as the northern portion of the double-track rail project progresses beyond the 80 per cent completion mark," it said.
Going forward, the research house said Gamuda would continue to eye the final link of the double-track rail project (Gemas-Johor Baru) worth RM8 billion and the Klang Valley's mass rapid transit package two and three as major construction awards were expected to resume after the general elections.
The MRT projects, estimated to be worth at least RM30 billion, is expected to open for tender after federal government's approval in mid-2013.
Despite these positives factors, it said Gamuda share price may be capped in the near-term by election uncertainties.
In addition, it said there could be a downside risks for
construction-related stocks generally depending on the outcome of the election.
Maybank Kim Eng has maintained a 'buy' call on Gamuda with an unchanged target price of RM4.10 per share. -- BERNAMA
Company Name: GAMUDA BHD
| Research House: MAYBANK | Price Call: BUY | Target Price: 4.10 |
KUALA LUMPUR: Maybank Kim Eng Research has maintained Gamuda Bhd's financial year 2012 net profit growth of 26 per cent amid good earnings visibility from a strong outstanding construction order book, record unbilled property sales and recurring earnings from its toll and water concessions.
Maybank Kim Eng in a research note today said the construction company was on track to post record earnings this year.
"Growth will be underpinned by an uptick in construction margins as the northern portion of the double-track rail project progresses beyond the 80 per cent completion mark," it said.
Going forward, the research house said Gamuda would continue to eye the final link of the double-track rail project (Gemas-Johor Baru) worth RM8 billion and the Klang Valley's mass rapid transit package two and three as major construction awards were expected to resume after the general elections.
The MRT projects, estimated to be worth at least RM30 billion, is expected to open for tender after federal government's approval in mid-2013.
Despite these positives factors, it said Gamuda share price may be capped in the near-term by election uncertainties.
In addition, it said there could be a downside risks for
construction-related stocks generally depending on the outcome of the election.
Maybank Kim Eng has maintained a 'buy' call on Gamuda with an unchanged target price of RM4.10 per share. -- BERNAMA
Dividends the Key Attraction
Stock Name: UMCCA
Company Name: UNITED MALACCA BHD
Company Name: UNITED MALACCA BHD
| Research House: TA | Price Call: HOLD | Target Price: 8.27 |
India's wakeup call
Stock Name: MUDAJYA
Company Name: MUDAJAYA GROUP BHD
Company Name: MUDAJAYA GROUP BHD
| Research House: ALLIANCE | Price Call: BUY | Target Price: 4.37 |
Small cap dividend play
Stock Name: KMLOONG
Company Name: KIM LOONG RESOURCES BHD
Company Name: KIM LOONG RESOURCES BHD
| Research House: ALLIANCE | Price Call: HOLD | Target Price: 2.65 |
Kenanga upgrades IJM to 'outperform'
Stock Name: IJM
Company Name: IJM CORPORATION BHD
Kenanga Research raised IJM Corp Bhd to "outperform" from "market perform," citing upside potential of 12 percent on its current share price and a brighter earnings visibility from its highway construction project.
"We opine that its earnings visibility is fairly clear at this juncture while the potential West Coast Expressway construction project will provide an additional 3 years earnings visibility to the group," Kenanga said in a note on Tuesday.
The research house also tweaked its target price upwards to 5.74 ringgit per share from 5.56 ringgit previously.
As of 0114 GMT, IJM's shares remained flat at 5.15 ringgit against the Malaysian benchmark stock index which rose 0.06 percent.
0916 (0116 GMT) (Reporting by Anuradha Raghu in Kuala Lumpur; anuradha.raghu@thomsonre
Company Name: IJM CORPORATION BHD
| Research House: KENANGA | Price Call: BUY | Target Price: 5.74 |
Kenanga Research raised IJM Corp Bhd to "outperform" from "market perform," citing upside potential of 12 percent on its current share price and a brighter earnings visibility from its highway construction project.
"We opine that its earnings visibility is fairly clear at this juncture while the potential West Coast Expressway construction project will provide an additional 3 years earnings visibility to the group," Kenanga said in a note on Tuesday.
The research house also tweaked its target price upwards to 5.74 ringgit per share from 5.56 ringgit previously.
As of 0114 GMT, IJM's shares remained flat at 5.15 ringgit against the Malaysian benchmark stock index which rose 0.06 percent.
0916 (0116 GMT) (Reporting by Anuradha Raghu in Kuala Lumpur; anuradha.raghu@thomsonre
August 6, 2012
MIDF maintains 'neutral' call on TH Plantation
MIDF Research expects no rapid increase in TH Plantation Bhd's earnings for the second half of this year as crude palm oil
prices are expected to remain subdued.
The research house said the group incurred substantially higher production cost in the second quarter of this year as a result of the yield enhancement plan.
"We also believe the ongoing yield enhancement plan will continue to drag margins within these two years," it said in a research note.
TH Plantation's earnings in the second quarter of this year grew stronger at 77.7 per cent to RM23.2 million quarter-on-quarter, attributable to lower tax rate, which resulted from higher capital allowance.
"However, its earnings declined by 27.8 per cent compared with the same period last year, as a result of lower on-year crude palm oil production and higher production cost," it added.
MIDF Research maintained its "neutral" call on the group, with an unchanged RM2.40 target price. -- Bernama
IJM Land's target price raised to RM2.75
Stock Name: IJM
Company Name: IJM CORPORATION BHD
Kenanga Research raised IJM Land Berhad's target price to RM2.75 from RM2.64 after it was reported that the company has formed a joint venture to develop a property site in London.
"We are positive on the venture as the group is now seeking new earnings growth avenues overseas given its already high earnings base in Malaysia," Kenanga said in a research note on Monday.
IJM Land said in a stock exchange filing that it formed a joint venture with Lite Bell Consolidated Sdn Bhd to buy a 2.7 acre site on Royal Mint Street in London for RM98.4 million.
There are no issues with the financing of the project and IJM Land's net gearing is set to rise only marginally, Kenanga said, adding that the project, due to be launched in the latter part of 2014, will start contributing to revenue from the financial year 2015 onwards. -- Reuters
Company Name: IJM CORPORATION BHD
| Research House: KENANGA | Price Call: BUY | Target Price: 2.75 |
Kenanga Research raised IJM Land Berhad's target price to RM2.75 from RM2.64 after it was reported that the company has formed a joint venture to develop a property site in London.
"We are positive on the venture as the group is now seeking new earnings growth avenues overseas given its already high earnings base in Malaysia," Kenanga said in a research note on Monday.
IJM Land said in a stock exchange filing that it formed a joint venture with Lite Bell Consolidated Sdn Bhd to buy a 2.7 acre site on Royal Mint Street in London for RM98.4 million.
There are no issues with the financing of the project and IJM Land's net gearing is set to rise only marginally, Kenanga said, adding that the project, due to be launched in the latter part of 2014, will start contributing to revenue from the financial year 2015 onwards. -- Reuters
Lower on-year earnings amidst weak production year
Stock Name: THPLANT
Company Name: TH PLANTATIONS BHD
Company Name: TH PLANTATIONS BHD
| Research House: MIDF | Price Call: HOLD | Target Price: 2.40 |
IJML - Maiden venture to the U.K
Stock Name: IJMLAND
Company Name: IJM LAND BERHAD
Company Name: IJM LAND BERHAD
| Research House: MIDF | Price Call: HOLD | Target Price: 2.60 |
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