Wah Seong upgraded to 'buy'

Hong Leong Investment Bank upgraded Wah Seong Corp Bhd to 'buy' after the oil and gas services firm's associate company, Petra Energy Bhd, secured a risk service contract to develop marginal oilfields off the Malaysian coast. Wah Seong holds a 26.9 percent stake in Petra Energy.

"We are positive on the development despite the stake in Petra Energy being worth only 8 percent of Wah Seong's market cap and little pipe related jobs being expected," the research house said in a note.

Hong Leong increased its target price on Wah Seong shares to 2.10 ringgit from 1.75 ringgit and raised the company's earnings per share forecast by 34 percent to 16 sen for the financial year ending Dec. 31, and 29 percent to 17.8 sen for the 2014 financial year.

The counter was up 1.13 percent to 1.79 ringgit a share, outperforming the broader index's 0.15 percent rise. - Reuters

OilGas - The Sabah O&G Play

Stock Name: SKPETRO
Company Name: SAPURAKENCANA PETROLEUM BHD

Research House: MIDF

Price Call: BUY

Target Price: 2.74

Charting Towards Higher FFB Harvest

Stock Name: UMCCA
Company Name: UNITED MALACCA BHD

Research House: TA

Price Call: HOLD

Target Price: 8.27

Industrial Division - Slowdown in the Near Term?

Stock Name: SIME
Company Name: SIME DARBY BHD

Research House: TA

Price Call: BUY

Target Price: 11.62

A good performer but priced ahead of fundamentals

Stock Name: DIGI
Company Name: DIGI.COM BHD

Research House: MIDF

Price Call: HOLD

Target Price: 4.60

Margins to normalize, PDP fees may contribute more

Stock Name: GAMUDA
Company Name: GAMUDA BHD

Research House: MIDF

Price Call: BUY

Target Price: 4.27

More Positive Outlook Ahead

Stock Name: SCIENTX
Company Name: SCIENTEX BERHAD

Research House: TA

Price Call: BUY

Target Price: 2.87

Renews Charters for OSV Fleet

Stock Name: PERISAI
Company Name: PERISAI PETROLEUM TEKNOLOGI

Research House: TA

Price Call: BUY

Target Price: 1.25

Growing at a Steady Pace

Stock Name: BJTOTO
Company Name: BERJAYA SPORTS TOTO BHD

Research House: TA

Price Call: BUY

Target Price: 5.05

Berjaya Sports cut to 'market perform'

RHB Research Institute cut its call on Berjaya Sports Toto Bhd to "market perform" from "trading buy" on expectations that the gaming firm's growth is likely to moderate.

"Going forward, while we believe there would still be topline growth for BToto ... we believe this growth could begin to moderate," RHB said in a note on Wednesday.

The research house kept its target price at RM4.55 per share, adding that risks include the introduction of regulatory changes for the number forecast operation (NFO) industry to discourage gambling, or a gaming tax hike by the government.

Shares in Berjaya Sports Toto inched up 0.2 percent against the Malaysian benchmark stock index's 0.08 percent rise. -- REUTERS

Hua Yang's target price raised

Stock Name: HUAYANG
Company Name: HUA YANG BHD

Research House: TA

Price Call: BUY

Target Price: 2.63

TA Securities raised its target price on property developer Hua Yang Bhd to RM2.63 per share from RM2.10 on expectations the Malaysian government will introduce incentives for home buyers in the 2013 budget.

"We will continue to see high demand for Hua Yang's products should the government provide more incentives to first-time home buyers," TA said in a research note on Tuesday.

The research house kept its "buy" call on the stock.

Hua Yang's shares gained 1.1 percent against the Malaysian benchmark stock index's 0.4 percent rise. -- Reuters

Cahya Mata Sarawak - Update - Demystifying the growth story

Stock Name: CMSB
Company Name: CAHYA MATA SARAWAK BHD

Research House: CIMB

Price Call: HOLD

Target Price: 3.39