Stock Name: MUDAJYA
Company Name: MUDAJAYA GROUP BHD
Company Name: MUDAJAYA GROUP BHD
| Research House: CIMB | Price Call: BUY | Target Price: 3.75 |
October 5, 2012
Acquisition to support long-term growth
Stock Name: KLK
Company Name: KUALA LUMPUR KEPONG BHD
Company Name: KUALA LUMPUR KEPONG BHD
| Research House: MIDF | Price Call: TRADING BUY | Target Price: 24.52 |
Tougher challenges for SME lending
Stock Name: AFG
Company Name: ALLIANCE FINANCIAL GROUP BHD
Company Name: ALLIANCE FINANCIAL GROUP BHD
| Research House: MIDF | Price Call: HOLD | Target Price: 4.20 |
October 4, 2012
Update Report
Stock Name: GWPLAST
Company Name: GW PLASTICS HLDG BHD
Company Name: GW PLASTICS HLDG BHD
| Research House: NETRESEARCH | Price Call: BUY | Target Price: 1.20 |
Second MRT contract this year
Stock Name: NAIM
Company Name: NAIM HOLDINGS BHD
Company Name: NAIM HOLDINGS BHD
| Research House: MIDF | Price Call: BUY | Target Price: 3.10 |
The Wildcat Report
Stock Name: SKPETRO
Company Name: SAPURAKENCANA PETROLEUM BHD
Company Name: SAPURAKENCANA PETROLEUM BHD
| Research House: MIDF | Price Call: BUY | Target Price: 2.74 |
October 3, 2012
Naim up on plan to move into REIT business
Stock Name: NAIM
Company Name: NAIM HOLDINGS BHD
Shares of Naim Holdings Bhd rose as much as 2.21 per cent after the Borneo-based construction firm said it aimed to move into the real estate investment trust (REIT) business.
At 0226 GMT, the counter was up 1.66 per cent at RM1.84 per share, as compared with the broader index's 0.16 per cent drop.
"We are positive on the news (Naim's intention to move into REIT) as this would provide Naim with sustainable recurring income," MIDF Research said in a note on Wednesday.
Nonetheless, it will launch the REIT only after investments have reached sufficient size, said MIDF. It reiterated its 'buy' call on the counter with a revised target price of RM3.04 from RM3.01 per share.- Reuters
Company Name: NAIM HOLDINGS BHD
| Research House: MIDF | Price Call: BUY | Target Price: 3.04 |
Shares of Naim Holdings Bhd rose as much as 2.21 per cent after the Borneo-based construction firm said it aimed to move into the real estate investment trust (REIT) business.
At 0226 GMT, the counter was up 1.66 per cent at RM1.84 per share, as compared with the broader index's 0.16 per cent drop.
"We are positive on the news (Naim's intention to move into REIT) as this would provide Naim with sustainable recurring income," MIDF Research said in a note on Wednesday.
Nonetheless, it will launch the REIT only after investments have reached sufficient size, said MIDF. It reiterated its 'buy' call on the counter with a revised target price of RM3.04 from RM3.01 per share.- Reuters
HL lower KL Kepong's fair value to RM23.39
Stock Name: KLK
Company Name: KUALA LUMPUR KEPONG BHD
KUALA LUMPUR: Hong Leong Investment Bank Research has lowered its target price for plantation firm Kuala Lumpur Kepong Bhd to 23.39 ringgit from 23.60 ringgit to reflect lower forecasts for the company's earnings.
Hong Leong lowered net profit forecasts for the next two years by up to 3.5 per cent to reflect lower assumptions of fresh fruit branches (FFB) output, and the fact that contributions from two new refineries and an oleochemical plant are expected to come onstream only next year. KLK's existing refineries were affected by the revision of export tariffs in Indonesia and the weak global economic outlook, Hong Leong added.
"In our view, the weak performance of KLK's refinery operations will likely improve when its two new refineries in Indonesia commence operations. KLK would benefit from the tax advantage in Indonesia, given that its land bank there contributes over 40 percent of total FFB production," it added.
The brokerage maintained its 'hold' rating on the stock.
Shares of KLK dipped 1.54 per cent to RM21.7 after Malaysian palm oil futures fell to a three-year low on Tuesday. - Reuters
Company Name: KUALA LUMPUR KEPONG BHD
| Research House: HLG | Price Call: HOLD | Target Price: 23.39 |
KUALA LUMPUR: Hong Leong Investment Bank Research has lowered its target price for plantation firm Kuala Lumpur Kepong Bhd to 23.39 ringgit from 23.60 ringgit to reflect lower forecasts for the company's earnings.
Hong Leong lowered net profit forecasts for the next two years by up to 3.5 per cent to reflect lower assumptions of fresh fruit branches (FFB) output, and the fact that contributions from two new refineries and an oleochemical plant are expected to come onstream only next year. KLK's existing refineries were affected by the revision of export tariffs in Indonesia and the weak global economic outlook, Hong Leong added.
"In our view, the weak performance of KLK's refinery operations will likely improve when its two new refineries in Indonesia commence operations. KLK would benefit from the tax advantage in Indonesia, given that its land bank there contributes over 40 percent of total FFB production," it added.
The brokerage maintained its 'hold' rating on the stock.
Shares of KLK dipped 1.54 per cent to RM21.7 after Malaysian palm oil futures fell to a three-year low on Tuesday. - Reuters
RHB starts IHH with 'outperform'
KUALA LUMPUR: RHB Research initiated coverage of IHH Healthcare Bhd with 'outperform' rating and fair value of 3.53 ringgit per share, citing strong earnings growth prospects for the world's second largest private healthcare service provider through 2014.
"While valuations are relatively expensive at 33.5 times 2013 price-to-earnings ratio, we believe there is still room for valuations to move higher given its strong earnings visibility and wider network of hospitals, which could result in significant savings from better economies of scale compared to its regional peers," the research house said in a note on Wednesday.
RHB forecast core net profit growth of 5.8 percent for IHH in 2012, 25.9 percent in 2013 and 26.0 percent in 2014.
"Singapore will be the main earnings driver for the company, driven by the gradual ramp-up of the new state-of-the-art Mount Novena hospital," it added.
The counter dropped 0.31 percent to 3.18 ringgit per share, underperforming the benchmark index's 0.07 percent rise.- Reuters
Lower subsidy neutralized by higher ceiling price
Stock Name: MSM
Company Name: MSM MALAYSIA HOLDINGS BERHAD
Company Name: MSM MALAYSIA HOLDINGS BERHAD
| Research House: MIDF | Price Call: HOLD | Target Price: 4.90 |
October 2, 2012
Oil & Gas Sector - New Oil Terminal at Sipitang, Sabah
Stock Name: SKPETRO
Company Name: SAPURAKENCANA PETROLEUM BHD
Company Name: SAPURAKENCANA PETROLEUM BHD
| Research House: MIDF | Price Call: BUY | Target Price: 2.75 |
Malaysia Marine upgraded to 'reduce'
Stock Name: MHB
Company Name: MALAYSIA MARINE AND HEAVY ENG
Affin Investment Bank upgraded Malaysia Marine and Heavy Engineering Holdings Bhd to "reduce" from "sell" and raised its target price to RM4.60 per share from RM4.02, on optimism about the oil and gas service firm's future contract flow.
"Taken together the 13 percent fall in share price year to date, we think that further downside is limited," the research house said in a note on Tuesday.
Affin raised Malaysia Marine's FY2012-FY2013 contract win assumptions to RM3 billion-RM4 billion (US$980.23 million-US$1.31 billion) from RM2-3 billion previously. The brokerage also lifted its FY2013-FY2014 earnings per share forecast by 13-14 percent. -- Reuters
Company Name: MALAYSIA MARINE AND HEAVY ENG
| Research House: AFFIN | Price Call: TRADING SELL | Target Price: 4.02 |
Affin Investment Bank upgraded Malaysia Marine and Heavy Engineering Holdings Bhd to "reduce" from "sell" and raised its target price to RM4.60 per share from RM4.02, on optimism about the oil and gas service firm's future contract flow.
"Taken together the 13 percent fall in share price year to date, we think that further downside is limited," the research house said in a note on Tuesday.
Affin raised Malaysia Marine's FY2012-FY2013 contract win assumptions to RM3 billion-RM4 billion (US$980.23 million-US$1.31 billion) from RM2-3 billion previously. The brokerage also lifted its FY2013-FY2014 earnings per share forecast by 13-14 percent. -- Reuters
October 1, 2012
To set up plant with Hino Motors
Stock Name: MBMR
Company Name: MBM RESOURCES BHD
Company Name: MBM RESOURCES BHD
| Research House: MIDF | Price Call: BUY | Target Price: 4.53 |
The acquisition spree continues
Stock Name: IHH
Company Name: IHH HEALTHCARE BERHAD
Company Name: IHH HEALTHCARE BERHAD
| Research House: MIDF | Price Call: HOLD | Target Price: 3.26 |
Lower Net Profit Due to Normalised Profit Margin
Stock Name: CRESNDO
Company Name: CRESCENDO CORPORATION BHD
Company Name: CRESCENDO CORPORATION BHD
| Research House: TA | Price Call: HOLD | Target Price: 1.99 |
Dragged down by weak production
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 |
Hiap Tech Venture's fair value cut
RHB Research cut its fair-value estimate for steel company Hiap Teck Venture Berhad to RM0.51 from RM0.58 to reflect weak demand for the company's products.
RHB lowered its net profit forecast for Hiap Teck for the financial year 2013/2014 by 2 to 3 percent in a research note on Monday due to lower estimates for sales volumes in the company's manufacturing and trading divisions.
At 9.23 am, Hiap Teck was down 0.99 percent at RM0.50 per share, while the benchmark KLSE composite index was down 0.02 percent at 1636.37. -- Reuters
Affin upgrades MBM Resources
Stock Name: MBMR
Company Name: MBM RESOURCES BHD
Affin Investment Bank upgraded MBM Resources Bhd to "add" from "reduce" previously, with the same target price of RM3.60 a share, after the car components maker tied up with Hino Japan to assemble trucks in Malaysia.
"This vertical expansion denotes potential margin expansion as MBM moves from its existing distribution margins of 2-4 percent to incorporate a 10-15 percent assembler margin composition," the research house said in a note on Monday.
Coupled with good cost discipline and economies of scale, the Hino plant can potentially generate mid-teen margins, Affin added.
MBM's share price has fallen 11.3 percent in the past two weeks, according to Reuters chart. "We believe there may be opportunities to accumulate," Affin said.
By 9.24 am, the counter rose 1.19 percent to RM3.40 per share, as compared with the broader index that remained unchanged. -- Reuters
Company Name: MBM RESOURCES BHD
| Research House: AFFIN | Price Call: BUY | Target Price: 3.60 |
Affin Investment Bank upgraded MBM Resources Bhd to "add" from "reduce" previously, with the same target price of RM3.60 a share, after the car components maker tied up with Hino Japan to assemble trucks in Malaysia.
"This vertical expansion denotes potential margin expansion as MBM moves from its existing distribution margins of 2-4 percent to incorporate a 10-15 percent assembler margin composition," the research house said in a note on Monday.
Coupled with good cost discipline and economies of scale, the Hino plant can potentially generate mid-teen margins, Affin added.
MBM's share price has fallen 11.3 percent in the past two weeks, according to Reuters chart. "We believe there may be opportunities to accumulate," Affin said.
By 9.24 am, the counter rose 1.19 percent to RM3.40 per share, as compared with the broader index that remained unchanged. -- Reuters
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