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 |
August 24, 2012
Maybulk shares fall on poor earnings
Stock Name: MAYBULK
Company Name: MALAYSIAN BULK CARRIERS BHD
KUALA LUMPUR: Shares of Malaysian Bulk Carriers Bhd (Maybulk) dropped as much as 3.77 per cent after the country's second largest shipping firm's second-quarter earnings missed market expectations.
By 11:35 a.m. (0335 GMT), the counter dropped 2.52 per cent to RM1.55 per share with 291,500 shares traded, as compared with an average of 235,423 shares during the past 30 trading days. The broader index shed 0.1 per cent.
"With rates having tumbled 41 per cent year-on-year amid higher charter costs, Maybulk posted a surprise loss of RM1.2 million in the second quarter ended June 30, 2012, which disappointed our and street expectations," OSK Research said in a note on Friday.
Maintaining a 'sell' on the counter, the research house downgraded Maybulk's fair value to RM1.27 per share from RM1.46 previously.
"We expect the outlook to remain challenging and weakness to persist in the immediate term," OSK added. -- Reuters
Company Name: MALAYSIAN BULK CARRIERS BHD
| Research House: OSK | Price Call: SELL | Target Price: 1.27 |
KUALA LUMPUR: Shares of Malaysian Bulk Carriers Bhd (Maybulk) dropped as much as 3.77 per cent after the country's second largest shipping firm's second-quarter earnings missed market expectations.
By 11:35 a.m. (0335 GMT), the counter dropped 2.52 per cent to RM1.55 per share with 291,500 shares traded, as compared with an average of 235,423 shares during the past 30 trading days. The broader index shed 0.1 per cent.
"With rates having tumbled 41 per cent year-on-year amid higher charter costs, Maybulk posted a surprise loss of RM1.2 million in the second quarter ended June 30, 2012, which disappointed our and street expectations," OSK Research said in a note on Friday.
Maintaining a 'sell' on the counter, the research house downgraded Maybulk's fair value to RM1.27 per share from RM1.46 previously.
"We expect the outlook to remain challenging and weakness to persist in the immediate term," OSK added. -- Reuters
OSK ups QL Resources fair value
Stock Name: QL
Company Name: QL RESOURCES BHD
KUALA LUMPUR: OSK Research raised its fair value of QL Resources Bhd to RM4.05 per share from RM3.46, citing a brighter outlook due to its Indonesian operations.
"We see stronger contributions arising from expansion of its new surimi line in Surabaya commencing in September, and the poultry operation in Indonesia," OSK said in a note.
"QL, our top buy in the consumer sector, is a relatively safer bet amid the economic uncertainty, owing to its earnings track record and defensiveness," the research house added.
QL shares fell 0.61 per cent by 0331 GMT as the broader market was down. The Malaysian benchmark stock index dropped 0.09 per cent. -- Reuters
Company Name: QL RESOURCES BHD
| Research House: OSK | Price Call: BUY | Target Price: 4.05 |
KUALA LUMPUR: OSK Research raised its fair value of QL Resources Bhd to RM4.05 per share from RM3.46, citing a brighter outlook due to its Indonesian operations.
"We see stronger contributions arising from expansion of its new surimi line in Surabaya commencing in September, and the poultry operation in Indonesia," OSK said in a note.
"QL, our top buy in the consumer sector, is a relatively safer bet amid the economic uncertainty, owing to its earnings track record and defensiveness," the research house added.
QL shares fell 0.61 per cent by 0331 GMT as the broader market was down. The Malaysian benchmark stock index dropped 0.09 per cent. -- Reuters
RHB raises Kuala Lumpur Kepong's fair value
Stock Name: KLK
Company Name: KUALA LUMPUR KEPONG BHD
KUALA LUMPUR: RHB Research raised its fair value of Kuala Lumpur Kepong Bhd to RM22.40 per share from RM20.80, citing better outlook for the plantation firm's refinery operations and its expansion plans in Indonesia.
"We were surprised to learn that KLK is setting up not one, but three refineries and one oleochemical facility in Indonesia," RHB said in a note on Friday.
Though RHB cut its earnings forecast by 2 per cent for the financial year 2012 to reflect flat fresh fruit bunches (FFB) production from KLK's Malaysian estates, it raised 2013 and 2014 growth forecasts by 3.4 per cent and 9.7 per cent, respectively.
The research house kept its 'underperform' rating on the stocks, saying "valuations remain rich in light of falling earnings growth momentum."
As of 0300 GMT, KLK shares remained unchanged at RM23.52 per share while the Malaysian benchmark stock index fell 0.07 per cent. -- Reuters
Company Name: KUALA LUMPUR KEPONG BHD
| Research House: RHB | Price Call: BUY | Target Price: 22.40 |
KUALA LUMPUR: RHB Research raised its fair value of Kuala Lumpur Kepong Bhd to RM22.40 per share from RM20.80, citing better outlook for the plantation firm's refinery operations and its expansion plans in Indonesia.
"We were surprised to learn that KLK is setting up not one, but three refineries and one oleochemical facility in Indonesia," RHB said in a note on Friday.
Though RHB cut its earnings forecast by 2 per cent for the financial year 2012 to reflect flat fresh fruit bunches (FFB) production from KLK's Malaysian estates, it raised 2013 and 2014 growth forecasts by 3.4 per cent and 9.7 per cent, respectively.
The research house kept its 'underperform' rating on the stocks, saying "valuations remain rich in light of falling earnings growth momentum."
As of 0300 GMT, KLK shares remained unchanged at RM23.52 per share while the Malaysian benchmark stock index fell 0.07 per cent. -- Reuters
Affin downgrades Jaya Tiasa to 'add'
Stock Name: JTIASA
Company Name: JAYA TIASA HOLDINGS BHD
KUALA LUMPUR: Affin Investment Bank downgraded Jaya Tiasa Holdings Bhd to 'add' from 'buy' and cut its target price to RM2.78 per share from RM3.07, after the timber and plantation firm's earnings missed market expectations.
The research house trimmed its net profit forecast for Jaya Tiasa for the financial year ending June 30, 2013, by 6 per cent, citing lower plywood output and higher production costs.
Nonetheless, Affin said it still prefers Jaya Tiasa for exposure to the timber sector, mainly due to the company's less reliance on Japan for a recovery and strong exposure to palm oil production.
By 10:15am (0215 GMT), the counter rose 0.79 per cent to RM2.54, while the broader index dropped 0.02 per cent. -- Reuters
Company Name: JAYA TIASA HOLDINGS BHD
| Research House: AFFIN | Price Call: BUY | Target Price: 2.78 |
KUALA LUMPUR: Affin Investment Bank downgraded Jaya Tiasa Holdings Bhd to 'add' from 'buy' and cut its target price to RM2.78 per share from RM3.07, after the timber and plantation firm's earnings missed market expectations.
The research house trimmed its net profit forecast for Jaya Tiasa for the financial year ending June 30, 2013, by 6 per cent, citing lower plywood output and higher production costs.
Nonetheless, Affin said it still prefers Jaya Tiasa for exposure to the timber sector, mainly due to the company's less reliance on Japan for a recovery and strong exposure to palm oil production.
By 10:15am (0215 GMT), the counter rose 0.79 per cent to RM2.54, while the broader index dropped 0.02 per cent. -- Reuters
Profits plunged but cushioned by associate
Stock Name: MAYBULK
Company Name: MALAYSIAN BULK CARRIERS BHD
Company Name: MALAYSIAN BULK CARRIERS BHD
| Research House: MIDF | Price Call: HOLD | Target Price: 1.68 |
Property sales surpasses FY11 full year sales
Stock Name: UOADEV
Company Name: UOA DEVELOPMENT BERHAD
Company Name: UOA DEVELOPMENT BERHAD
| Research House: MIDF | Price Call: BUY | Target Price: 2.07 |
TSH - 1HFY12 - Result - Review
Stock Name: TSH
Company Name: TSH RESOURCES BHD
Company Name: TSH RESOURCES BHD
| Research House: MIDF | Price Call: HOLD | Target Price: 2.24 |
Kossan - 2QFY12 Results Review
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 |
August 23, 2012
Boustead Holdings - 2QFY12 RESULTS - Bowed under the weight of heavy industries
Stock Name: BSTEAD
Company Name: BOUSTEAD HOLDINGS BHD
Company Name: BOUSTEAD HOLDINGS BHD
| Research House: CIMB | Price Call: HOLD | Target Price: 5.49 |
OSK raises MAS to 'buy'
Stock Name: MAS
Company Name: MALAYSIAN AIRLINE SYSTEM BHD
OSK Research raised its call on Malaysian Airline System Bhd (MAS) to 'buy' from 'trading buy', citing a brighter outlook for the national carrier as its second-quarter losses narrowed by 72 percent year-on-year.
"While there is still a lot more that needs to be done to bring in consistent profits, we see sentiment turning more positive for the counter as the carrier undergoes a turnaround, slowly but steadily," OSK said in a note on Thursday.
Keeping its fair value at 1.38 ringgit per share, OSK said MAS has successfully trimmed costs across all levels and that arrival of new aircraft will reduce fuel consumption.
As of 3.10pm, Malaysian Airlines shares rose 0.93 percent to 1.08 ringgit against the Malaysian benchmark index's 0.06 percent fall. - Reuters
Company Name: MALAYSIAN AIRLINE SYSTEM BHD
| Research House: OSK | Price Call: BUY | Target Price: 1.38 |
OSK Research raised its call on Malaysian Airline System Bhd (MAS) to 'buy' from 'trading buy', citing a brighter outlook for the national carrier as its second-quarter losses narrowed by 72 percent year-on-year.
"While there is still a lot more that needs to be done to bring in consistent profits, we see sentiment turning more positive for the counter as the carrier undergoes a turnaround, slowly but steadily," OSK said in a note on Thursday.
Keeping its fair value at 1.38 ringgit per share, OSK said MAS has successfully trimmed costs across all levels and that arrival of new aircraft will reduce fuel consumption.
As of 3.10pm, Malaysian Airlines shares rose 0.93 percent to 1.08 ringgit against the Malaysian benchmark index's 0.06 percent fall. - Reuters
Double-Digit Earnings Growth Guidance Intact
Stock Name: SUPERMX
Company Name: SUPERMAX CORPORATION BHD
Company Name: SUPERMAX CORPORATION BHD
| Research House: TA | Price Call: BUY | Target Price: 2.65 |
Earnings Below Expectations
Stock Name: CENSOF
Company Name: CENSOF HOLDINGS BERHAD
Company Name: CENSOF HOLDINGS BERHAD
| Research House: TA | Price Call: SELL | Target Price: 0.35 |
Genetec Technology Bhd RR 1Q FY2013
Stock Name: GENETEC
Company Name: GENETEC TECHNOLOGY BERHAD
Company Name: GENETEC TECHNOLOGY BERHAD
| Research House: WILSON & YORK | Price Call: HOLD | Target Price: 0.23 |
2QFY12 - Results Update
Stock Name: GRANFLO
Company Name: GRAND-FLO SOLUTION BHD
Company Name: GRAND-FLO SOLUTION BHD
| Research House: NETRESEARCH | Price Call: BUY | Target Price: 0.33 |
2QFY12 - Results Update
Stock Name: MTOUCHE
Company Name: MTOUCHE TECHNOLOGY BHD
Company Name: MTOUCHE TECHNOLOGY BHD
| Research House: NETRESEARCH | Price Call: HOLD | Target Price: 0.45 |
August 22, 2012
Growth Slightly Above Expectations
Stock Name: AFFIN
Company Name: AFFIN HOLDINGS BHD
Company Name: AFFIN HOLDINGS BHD
| Research House: TA | Price Call: BUY | Target Price: 4.30 |
Sarawak Plantation Berhad RR 2Q FY2012
Stock Name: SWKPLNT
Company Name: SARAWAK PLANTATION BHD
Company Name: SARAWAK PLANTATION BHD
| Research House: WILSON & YORK | Price Call: BUY | Target Price: 3.30 |
Affin cuts Ta Ann to 'sell'
Stock Name: TAANN
Company Name: TA ANN HOLDINGS BHD
Affin Investment Bank downgraded Ta Ann Holdings Bhd to "sell" from "add", and cut its target price to RM3.08 per share from RM5.08 previously, after the timber firm's first-half earnings missed market expectations.
"Given the weaker-than-expected second quarter (ended June 30, 2012) performance, we are cutting our financial year ending Dec 31, 2012 (FY2012) to FY2014 net profit forecast by 20 percent to 32 percent," the research house said in a note on Wednesday.
"At current share price level, the stock is trading at 14.7 times 2013 price-to-earnings ratio (PER), expensive in our view, considering its high risk to earnings, while also trading above its historical average PER of 13 times," Affin added.
Ta Ann reported on Friday a weaker-than-expected first-half net profit of RM24.8 million, a 68 percent drop year-on-year, mainly on lower selling prices and higher cost of production.
By 9.20am (0120 GMT), the counter dropped 1.78 percent to RM4.42 per share, while the broader index rose 0.16 percent. -- REUTERS
Company Name: TA ANN HOLDINGS BHD
| Research House: AFFIN | Price Call: SELL | Target Price: 3.08 |
Affin Investment Bank downgraded Ta Ann Holdings Bhd to "sell" from "add", and cut its target price to RM3.08 per share from RM5.08 previously, after the timber firm's first-half earnings missed market expectations.
"Given the weaker-than-expected second quarter (ended June 30, 2012) performance, we are cutting our financial year ending Dec 31, 2012 (FY2012) to FY2014 net profit forecast by 20 percent to 32 percent," the research house said in a note on Wednesday.
"At current share price level, the stock is trading at 14.7 times 2013 price-to-earnings ratio (PER), expensive in our view, considering its high risk to earnings, while also trading above its historical average PER of 13 times," Affin added.
Ta Ann reported on Friday a weaker-than-expected first-half net profit of RM24.8 million, a 68 percent drop year-on-year, mainly on lower selling prices and higher cost of production.
By 9.20am (0120 GMT), the counter dropped 1.78 percent to RM4.42 per share, while the broader index rose 0.16 percent. -- REUTERS
Taking a Dip
Stock Name: BSTEAD
Company Name: BOUSTEAD HOLDINGS BHD
Company Name: BOUSTEAD HOLDINGS BHD
| Research House: TA | Price Call: BUY | Target Price: 6.35 |
2Q12 results review
Stock Name: OSK
Company Name: OSK HOLDINGS BHD
Company Name: OSK HOLDINGS BHD
| Research House: NETRESEARCH | Price Call: HOLD | Target Price: 1.60 |
1H FY12 Results Exceed Expectations
Stock Name: ALLIANZ
Company Name: ALLIANZ MALAYSIA BHD
Company Name: ALLIANZ MALAYSIA BHD
| Research House: TA | Price Call: BUY | Target Price: 6.40 |
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