Stock Name: REDTONE
Company Name: REDTONE INTERNATIONAL BHD
Company Name: REDTONE INTERNATIONAL BHD
| Research House: NETRESEARCH | Price Call: BUY | Target Price: 0.48 |
December 7, 2012
Damar gig official announcement by ExxonMobil
Stock Name: MHB
Company Name: MALAYSIA MARINE AND HEAVY ENG
Company Name: MALAYSIA MARINE AND HEAVY ENG
| Research House: MIDF | Price Call: HOLD | Target Price: 4.75 |
December 6, 2012
SP Setia declines despite winning tender
Stock Name: SPSETIA
Company Name: SP SETIA BHD
KUALA LUMPUR:SP Setia Bhd's shares declined three sen to
RM3.05 at mid-afternoon today despite the company being successful in the tender for the 1.25-hectare freehold land along Jalan Ampang worth RM295 million.
The counter had opened in the morning three sen higher at RM3.11. As at 3 pm today, a total of 1.35 million shares changed hands.
The land is located in Embassy Row, next to Menara HSC and is situated less than one kilometre from the Petronas twin Tower.
Kenanga Research, in a note to Bernama today, said the project, with a gross development value of RM1.04 billion, will feature an integrated commercial development.
"We maintained a 'market perform' call on SP Setia. Although there are catalytic projects at hands, it appears that SP Setia's liquidity issues are affecting its share price negatively," it said.
Hong Leong Investment Bank (HLIB) said the acquisition was not the best of time as other developers had been holding off their launches in the KLCC/Embassy area.
"SP Setia can also expect to have close to RM300 million sunk into the land, while having to wait at least two years before recouping any cashflow," the research house said in a note to Bernama.
Fortunately, SP Setia still has another RM760 million of gearing headroom before net gearing hit the 0.5 time threshold, it said.
HLIB has maintained its 'hold' call on SP Setia and unchanged target price at RM3.17. -- BERNAMA
Company Name: SP SETIA BHD
| Research House: HLG | Price Call: HOLD | Target Price: 3.17 |
KUALA LUMPUR:SP Setia Bhd's shares declined three sen to
RM3.05 at mid-afternoon today despite the company being successful in the tender for the 1.25-hectare freehold land along Jalan Ampang worth RM295 million.
The counter had opened in the morning three sen higher at RM3.11. As at 3 pm today, a total of 1.35 million shares changed hands.
The land is located in Embassy Row, next to Menara HSC and is situated less than one kilometre from the Petronas twin Tower.
Kenanga Research, in a note to Bernama today, said the project, with a gross development value of RM1.04 billion, will feature an integrated commercial development.
"We maintained a 'market perform' call on SP Setia. Although there are catalytic projects at hands, it appears that SP Setia's liquidity issues are affecting its share price negatively," it said.
Hong Leong Investment Bank (HLIB) said the acquisition was not the best of time as other developers had been holding off their launches in the KLCC/Embassy area.
"SP Setia can also expect to have close to RM300 million sunk into the land, while having to wait at least two years before recouping any cashflow," the research house said in a note to Bernama.
Fortunately, SP Setia still has another RM760 million of gearing headroom before net gearing hit the 0.5 time threshold, it said.
HLIB has maintained its 'hold' call on SP Setia and unchanged target price at RM3.17. -- BERNAMA
NJOI-ing some tractions
Stock Name: ASTRO
Company Name: ASTRO MALAYSIA HOLDINGS BERHAD
Company Name: ASTRO MALAYSIA HOLDINGS BERHAD
| Research House: MIDF | Price Call: BUY | Target Price: 3.40 |
Telco - Ready for LTE
Stock Name: TM
Company Name: TELEKOM MALAYSIA BHD
Company Name: TELEKOM MALAYSIA BHD
| Research House: MIDF | Price Call: BUY | Target Price: 6.75 |
Hong Leong: SJR Marine stake sale positive
Stock Name: PERISAI
Company Name: PERISAI PETROLEUM TEKNOLOGI
KUALA LUMPUR: Perisai Petroleum Teknologi Bhd's move to dispose of the remaining 50 per cent stake in SJR Marine (L) Ltd to EOC Ltd was viewed as 'positive' by Hong Leong Investment Bank.
"The disposal will lower debt as the jackup rig is scheduled for delivery in mid-2014, which we believe would be a robust market for drilling during the period.
"The put call option will help to reduce cash outflow when the rig is delivered in mid-2014," the research house said in a note today.
Assuming rig utilisation at 80 per cent and daily charter rate at US$160,000, the topline contribution from the rig would be RM140 million while contribution from the pipelay barges would only be RM67 million, it said.
"Thus assuming that both the rig and pipelay vessel have similar margins, earnings could increase several fold.
"We are positive on the recent proposals as the company is sensible in managing gearing at the same time ensuring that earnings will be enhanced," Hong Leong said.
The research house has maintained a "buy" call on Perisai Petroleum with unchanged target price of RM1.55. -- BERNAMA
Company Name: PERISAI PETROLEUM TEKNOLOGI
| Research House: HLG | Price Call: BUY | Target Price: 1.55 |
KUALA LUMPUR: Perisai Petroleum Teknologi Bhd's move to dispose of the remaining 50 per cent stake in SJR Marine (L) Ltd to EOC Ltd was viewed as 'positive' by Hong Leong Investment Bank.
"The disposal will lower debt as the jackup rig is scheduled for delivery in mid-2014, which we believe would be a robust market for drilling during the period.
"The put call option will help to reduce cash outflow when the rig is delivered in mid-2014," the research house said in a note today.
Assuming rig utilisation at 80 per cent and daily charter rate at US$160,000, the topline contribution from the rig would be RM140 million while contribution from the pipelay barges would only be RM67 million, it said.
"Thus assuming that both the rig and pipelay vessel have similar margins, earnings could increase several fold.
"We are positive on the recent proposals as the company is sensible in managing gearing at the same time ensuring that earnings will be enhanced," Hong Leong said.
The research house has maintained a "buy" call on Perisai Petroleum with unchanged target price of RM1.55. -- BERNAMA
Ann Joo's share price stays unchanged
Stock Name: ANNJOO
Company Name: ANN JOO RESOURCES BHD
Ann Joo Resources Bhd's share prices closed the morning trading session unchanged at RM1.33 despite its proposal to dispose its stake in Anshin Precision Industries Sdn Bhd for RM8.9 million.
Throughout the session, the counter stayed pegged at RM1.33 with 138,100 shares changing hands.
Via the disposal of a 59.1 per cent stake in the company, Ann Joo would record a disposal gain of RM1.3 million, said Hong Leong Investment Bank (HLIB) Research in a note to Bernama.
"We see the disposal as immaterial to the company and therefore our neutral view for the counter.
The company still maintained a target price of RM1.33 and put a hold recommendation on the stock.
Nevertheless, HLIB Research said the latest move was in line with Ann Joo's strategy to focus on its core business which was manufacturing and trading of steel products. Bernama
Company Name: ANN JOO RESOURCES BHD
| Research House: HLG | Price Call: HOLD | Target Price: 1.33 |
Ann Joo Resources Bhd's share prices closed the morning trading session unchanged at RM1.33 despite its proposal to dispose its stake in Anshin Precision Industries Sdn Bhd for RM8.9 million.
Throughout the session, the counter stayed pegged at RM1.33 with 138,100 shares changing hands.
Via the disposal of a 59.1 per cent stake in the company, Ann Joo would record a disposal gain of RM1.3 million, said Hong Leong Investment Bank (HLIB) Research in a note to Bernama.
"We see the disposal as immaterial to the company and therefore our neutral view for the counter.
The company still maintained a target price of RM1.33 and put a hold recommendation on the stock.
Nevertheless, HLIB Research said the latest move was in line with Ann Joo's strategy to focus on its core business which was manufacturing and trading of steel products. Bernama
OSK lifts Astro's earnings forecast
Stock Name: ASTRO
Company Name: ASTRO MALAYSIA HOLDINGS BERHAD
OSK Research Sdn Bhd has revised upwards Astro Malaysia Holdings Bhd's 2013-2015 financial year earnings forecast by between five per cent and 12 per cent, given its better-than-expected third quarter performance.
In a research note, OSK Research said Astro's core earnings for the nine-months ended Oct 31, 2012, were ahead of its estimates, but within consensus' numbers, making up 84 per cent and 73 per cent of the respective full-year forecasts.
The group's revenue for the period under review grew by 12 per cent year-on-year, propelled by higher subscription of its B.yond High-Definition services.
"We continue to like Astro's monopoly in the domestic pay-television segment, despite the near-term blip due to rising content cost and higher fixed expenses associated with subscribers opting for B.yond set top box," it said.
The research house maintained its "buy" call on the stock, with an upgraded RM3.40 fair value.
In a separate research note, Hong Leong Investment Bank Bhd said Astro's NJOI service, a subscription-free satellite TV service, had grown to 132,000
subscribers.
"We believe that this is a strategic move by Astro to capture viewership from the free-to-air television segment, allowing the company to grow its advertising expenditure share and generate additional revenue through prepaid offerings," it said.
The research house maintained its "hold" call on the stock, with an unchanged RM3.16 target price. Bernama
Company Name: ASTRO MALAYSIA HOLDINGS BERHAD
| Research House: OSK | Price Call: BUY | Target Price: 3.40 |
OSK Research Sdn Bhd has revised upwards Astro Malaysia Holdings Bhd's 2013-2015 financial year earnings forecast by between five per cent and 12 per cent, given its better-than-expected third quarter performance.
In a research note, OSK Research said Astro's core earnings for the nine-months ended Oct 31, 2012, were ahead of its estimates, but within consensus' numbers, making up 84 per cent and 73 per cent of the respective full-year forecasts.
The group's revenue for the period under review grew by 12 per cent year-on-year, propelled by higher subscription of its B.yond High-Definition services.
"We continue to like Astro's monopoly in the domestic pay-television segment, despite the near-term blip due to rising content cost and higher fixed expenses associated with subscribers opting for B.yond set top box," it said.
The research house maintained its "buy" call on the stock, with an upgraded RM3.40 fair value.
In a separate research note, Hong Leong Investment Bank Bhd said Astro's NJOI service, a subscription-free satellite TV service, had grown to 132,000
subscribers.
"We believe that this is a strategic move by Astro to capture viewership from the free-to-air television segment, allowing the company to grow its advertising expenditure share and generate additional revenue through prepaid offerings," it said.
The research house maintained its "hold" call on the stock, with an unchanged RM3.16 target price. Bernama
December 5, 2012
Sunway shares unchanged despite land buy
Stock Name: SUNWAY
Company Name: SUNWAY BERHAD
KUALA LUMPUR: Sunway Bhd's share prices were unchanged at
RM2.30 as at 3 pm today despite the conglomerate's latest move to expand its landbank in Iskandar Malaysia economic corridor.
Its prices had moved between RM2.30 and RM2.32 with a total of 280,700 shares traded.
Yesterday, Sunway acquired two parcels of freehold land in Iskandar Malaysia totalling 311.6ha for RM412.7 million through a joint-venture company, Iskandar Asset Sdn Bhd, a unit of Iskandar Investment Bhd.
Hong Leong Investment Bank (HLIB) said the latest venture by the company was being viewed as "long-term" positive move.
It said the land will be jointly developed by both companies for a mixed integrated development projects and expected to raise of about RM12 billion over 17 years.
"This new land will transform Sunway into one of the biggest developers in Iskandar. It has increased its landbank by 29 per cent to 1449ha and raise gross development value by 40 per cent to RM25 billion," HLIB told Bernama today.
HLIB has maintained a 'buy' call on the counter with the target price of RM2.93. -- BERNAMA
Company Name: SUNWAY BERHAD
| Research House: HLG | Price Call: BUY | Target Price: 2.93 |
KUALA LUMPUR: Sunway Bhd's share prices were unchanged at
RM2.30 as at 3 pm today despite the conglomerate's latest move to expand its landbank in Iskandar Malaysia economic corridor.
Its prices had moved between RM2.30 and RM2.32 with a total of 280,700 shares traded.
Yesterday, Sunway acquired two parcels of freehold land in Iskandar Malaysia totalling 311.6ha for RM412.7 million through a joint-venture company, Iskandar Asset Sdn Bhd, a unit of Iskandar Investment Bhd.
Hong Leong Investment Bank (HLIB) said the latest venture by the company was being viewed as "long-term" positive move.
It said the land will be jointly developed by both companies for a mixed integrated development projects and expected to raise of about RM12 billion over 17 years.
"This new land will transform Sunway into one of the biggest developers in Iskandar. It has increased its landbank by 29 per cent to 1449ha and raise gross development value by 40 per cent to RM25 billion," HLIB told Bernama today.
HLIB has maintained a 'buy' call on the counter with the target price of RM2.93. -- BERNAMA
Kicking-off the next growth stage for Nusajaya
Stock Name: UEMLAND
Company Name: UEM LAND HOLDINGS BHD
Company Name: UEM LAND HOLDINGS BHD
| Research House: MIDF | Price Call: BUY | Target Price: 2.54 |
Telco - 3Q12 Results Roundup
Stock Name: TM
Company Name: TELEKOM MALAYSIA BHD
Company Name: TELEKOM MALAYSIA BHD
| Research House: MIDF | Price Call: BUY | Target Price: 6.75 |
OilGas - 2013 Outlook
Stock Name: SKPETRO
Company Name: SAPURAKENCANA PETROLEUM BHD
Company Name: SAPURAKENCANA PETROLEUM BHD
| Research House: MIDF | Price Call: BUY | Target Price: 3.96 |
December 4, 2012
PPB Group Bhd RR 3Q FY2012
Stock Name: PPB
Company Name: PPB GROUP BHD
Company Name: PPB GROUP BHD
| Research House: WILSON & YORK | Price Call: HOLD | Target Price: 13.68 |
APM Automotive Holdings Bhd RR 3Q FY2012
Stock Name: APM
Company Name: APM AUTOMOTIVE HOLDINGS BHD
Company Name: APM AUTOMOTIVE HOLDINGS BHD
| Research House: WILSON & YORK | Price Call: BUY | Target Price: 6.00 |
1QFY13 Results Report
Stock Name: OGAWA
Company Name: OGAWA WORLD BHD
Company Name: OGAWA WORLD BHD
| Research House: NETRESEARCH | Price Call: HOLD | Target Price: 0.40 |
Potential Divestment of CityNeon?
Stock Name: STAR
Company Name: STAR PUBLICATIONS (M) BHD
Company Name: STAR PUBLICATIONS (M) BHD
| Research House: TA | Price Call: SELL | Target Price: 2.94 |
CCK Consolidated Holdings Bhd RR 1Q FY2013
Stock Name: CCK
Company Name: CCK CONSOLIDATED HOLDINGS BHD
Company Name: CCK CONSOLIDATED HOLDINGS BHD
| Research House: WILSON & YORK | Price Call: BUY | Target Price: 1.12 |
December 3, 2012
Multiple Risks. Downgrade to Sell
Stock Name: FGV
Company Name: FELDA GLOBAL VENTURES HLDG BHD
Company Name: FELDA GLOBAL VENTURES HLDG BHD
| Research House: TA | Price Call: SELL | Target Price: 4.66 |
Diversification into Oil & Gas
Stock Name: SENDAI
Company Name: EVERSENDAI CORPORATION BERHAD
Company Name: EVERSENDAI CORPORATION BERHAD
| Research House: TA | Price Call: BUY | Target Price: 1.93 |
9M12 in-line but margin narrowed
Stock Name: TM
Company Name: TELEKOM MALAYSIA BHD
Company Name: TELEKOM MALAYSIA BHD
| Research House: TA | Price Call: HOLD | Target Price: 5.94 |
OSK ups Axiata 2013 earnings forecast by 3pc
Stock Name: AXIATA
Company Name: AXIATA GROUP BERHAD
KUALA LUMPUR: OSK Research Sdn Bhd has lifted Axiata Group Bhd's 2013 financial year earnings forecast by three per cent, given its relatively good third quarter results for the 2012 financial year.
It said the earnings estimates for the 2012 financial year, however, was revised down by one per cent.
The group registered revenue and earnings before interest, taxes,
depreciation and amortisation growth of nine per cent and five per cent, respectively, for the nine-months ended Sept 30, 2012, surpassing earlier projections of 7.2 per cent and 4.5 per cent.
"Celcom continued to outflank Maxis and DiGi, reaffirming the success of its customer segmentation strategy in Malaysia, a major marketing lynchpin.
"After coming behind Maxis and DiGi for the past five years, it has since claimed the top spot in the youth segment and continues to make inroads into the mid-urban and suburban areas," it said in a research note.
OSK Research upgraded its call on the stock to a "buy" at a revised fair value of RM6.62. -- BERNAMA
Company Name: AXIATA GROUP BERHAD
| Research House: OSK | Price Call: BUY | Target Price: 6.62 |
KUALA LUMPUR: OSK Research Sdn Bhd has lifted Axiata Group Bhd's 2013 financial year earnings forecast by three per cent, given its relatively good third quarter results for the 2012 financial year.
It said the earnings estimates for the 2012 financial year, however, was revised down by one per cent.
The group registered revenue and earnings before interest, taxes,
depreciation and amortisation growth of nine per cent and five per cent, respectively, for the nine-months ended Sept 30, 2012, surpassing earlier projections of 7.2 per cent and 4.5 per cent.
"Celcom continued to outflank Maxis and DiGi, reaffirming the success of its customer segmentation strategy in Malaysia, a major marketing lynchpin.
"After coming behind Maxis and DiGi for the past five years, it has since claimed the top spot in the youth segment and continues to make inroads into the mid-urban and suburban areas," it said in a research note.
OSK Research upgraded its call on the stock to a "buy" at a revised fair value of RM6.62. -- BERNAMA
No muddy waters here
Stock Name: ALAM
Company Name: ALAM MARITIM RESOURCES BHD
Company Name: ALAM MARITIM RESOURCES BHD
| Research House: CIMB | Price Call: BUY | Target Price: 1.42 |
More potential from HSBB regardless of the service provider
Stock Name: TM
Company Name: TELEKOM MALAYSIA BHD
Company Name: TELEKOM MALAYSIA BHD
| Research House: MIDF | Price Call: BUY | Target Price: 6.75 |
Earnings dragged by subdued CPO prices
Stock Name: FGV
Company Name: FELDA GLOBAL VENTURES HLDG BHD
Company Name: FELDA GLOBAL VENTURES HLDG BHD
| Research House: MIDF | Price Call: BUY | Target Price: 5.27 |
First venture into O&G sector
Stock Name: SENDAI
Company Name: EVERSENDAI CORPORATION BERHAD
Company Name: EVERSENDAI CORPORATION BERHAD
| Research House: MIDF | Price Call: BUY | Target Price: 2.08 |
10% private placement to fund new rig
Stock Name: PERISAI
Company Name: PERISAI PETROLEUM TEKNOLOGI
Company Name: PERISAI PETROLEUM TEKNOLOGI
| Research House: TA | Price Call: BUY | Target Price: 1.39 |
3QFY12 Results Report
Stock Name: TRIUMPL
Company Name: TRIUMPHAL ASSOCIATES BHD
Company Name: TRIUMPHAL ASSOCIATES BHD
| Research House: NETRESEARCH | Price Call: BUY | Target Price: 1.30 |
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