Bursa Malaysia Stock Price Target: 11/25/12

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

Research House: MIDF

Price Call: BUY

Target Price: 2.19

3QFY12 Results Report

Stock Name: SALCON
Company Name: SALCON BHD

Research House: NETRESEARCH

Price Call: BUY

Target Price: 0.78

Profit Margin Recovering

Stock Name: TRC
Company Name: TRC SYNERGY BHD

Research House: TA

Price Call: BUY

Target Price: 0.69

Sarawak Plantation Berhad RR 3Q FY2012

Stock Name: SWKPLNT
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

Research House: WILSON & YORK

Price Call: HOLD

Target Price: 0.20

Healthy Earnings Momentum Envisaged

Stock Name: ALLIANZ
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

Research House: CIMB

Price Call: HOLD

Target Price: 7.20

Lower sales volume

Stock Name: MSM
Company Name: MSM MALAYSIA HOLDINGS BERHAD

Research House: MIDF

Price Call: HOLD

Target Price: 4.43

Dividend is the attraction

Stock Name: MAXIS
Company Name: MAXIS BERHAD

Research House: MIDF

Price Call: HOLD

Target Price: 6.80

Expect stronger performance in 4QFY12

Stock Name: SENDAI
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

Research House: MIDF

Price Call: HOLD

Target Price: 6.00

9MFY12 Results Boosted by Proceeds from Disposal

Stock Name: KSK
Company Name: KSK GROUP BERHAD

Research House: TA

Price Call: HOLD

Target Price: 0.75

3QFY12: Riding an upswing

Stock Name: DELEUM
Company Name: DELEUM BHD

Research House: ALLIANCE

Price Call: BUY

Target Price: 2.39

November 26, 2012

9MFY12 Core Earnings Below Expectations

Stock Name: PETGAS
Company Name: PETRONAS GAS BHD

Research House: TA

Price Call: SELL

Target Price: 16.75

Continues a Winning Streak

Stock Name: UMW
Company Name: UMW HOLDINGS BHD

Research House: TA

Price Call: BUY

Target Price: 12.56

3QFY12 Results Report

Stock Name: TALIWRK
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

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

Strong numbers led by turnaround in non-auto biz

Stock Name: UMW
Company Name: UMW HOLDINGS BHD

Research House: MIDF

Price Call: BUY

Target Price: 11.70

Earnings booster from Melaka LNG Re-Gas only in 2Q13

Stock Name: PETGAS
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

Research House: TA

Price Call: BUY

Target Price: 8.00