Stock Name: TOPGLOV
Company Name: TOP GLOVE CORPORATION BHD
Company Name: TOP GLOVE CORPORATION BHD
| Research House: MIDF | Price Call: HOLD | Target Price: 5.79 |
December 14, 2012
1Q FY13 Results Within Expectations
Stock Name: TOPGLOV
Company Name: TOP GLOVE CORPORATION BHD
Company Name: TOP GLOVE CORPORATION BHD
| Research House: TA | Price Call: BUY | Target Price: 6.55 |
MIDF ups Axiata to 'trading buy'
Stock Name: AXIATA
Company Name: AXIATA GROUP BERHAD
MIDF Research upgraded Axiata Group Bhd to 'trading buy' from 'neutral' after the second-largest mobile phone operator in Southeast Asia announced it will buy Cambodian rival Latelz Company Ltd for US$155 million.
"The merger is a good move in our opinion but we are not revising our numbers as the immediate impact will not be material," the research house said in a note on Friday.
"However, we believe investor will be upbeat on the newsflow as evident by the reaction of the share price," MIDF added.
Raising its target price on Axiata to RM6.95 per share from RM6.35, MIDF said it expected the sentiment to remain positive for the next few months.
At 10.56 am, Axiata shares were down 0.46 per cent at RM6.50, while the benchmark stock index was 0.25 per cent lower. - Reuters
Company Name: AXIATA GROUP BERHAD
| Research House: MIDF | Price Call: TRADING BUY | Target Price: 6.95 |
MIDF Research upgraded Axiata Group Bhd to 'trading buy' from 'neutral' after the second-largest mobile phone operator in Southeast Asia announced it will buy Cambodian rival Latelz Company Ltd for US$155 million.
"The merger is a good move in our opinion but we are not revising our numbers as the immediate impact will not be material," the research house said in a note on Friday.
"However, we believe investor will be upbeat on the newsflow as evident by the reaction of the share price," MIDF added.
Raising its target price on Axiata to RM6.95 per share from RM6.35, MIDF said it expected the sentiment to remain positive for the next few months.
At 10.56 am, Axiata shares were down 0.46 per cent at RM6.50, while the benchmark stock index was 0.25 per cent lower. - Reuters
December 13, 2012
UOA - Disposal of Investment Property
Stock Name: UOADEV
Company Name: UOA DEVELOPMENT BERHAD
Company Name: UOA DEVELOPMENT BERHAD
| Research House: MIDF | Price Call: BUY | Target Price: 2.07 |
SP Setia dips despite good financial results
Stock Name: SPSETIA
Company Name: SP SETIA BHD
KUALA LUMPUR: SP Setia Bhd's shares on Bursa Malaysia dipped four sen, or 1.27 per cent, to RM3.11 as at 3.39 pm today despite posting good financial-year result yesterday.
The counter opened at RM3.17 and hovered between RM3.11 and RM3.18 with 3.68 million shares traded.
HwangDBS Vickers Research said the 30 per cent growth target in sales for next financial year was achievable due to the launch of Battersea Phase 1 condominiums, RM4 billion Setia Eco Hills@Semenyih township and other projects.
"We see the RM40 billion gross development value for Battersea as a gamechanger which can potentially double earnings by financial years 2016 and 2017," it said in a note to Bernama.
The research firm has maintained a 'buy' call on SP Setia and with the target price at RM4.10 -- BERNAMA
Company Name: SP SETIA BHD
| Research House: HWANGDBS | Price Call: BUY | Target Price: 4.10 |
KUALA LUMPUR: SP Setia Bhd's shares on Bursa Malaysia dipped four sen, or 1.27 per cent, to RM3.11 as at 3.39 pm today despite posting good financial-year result yesterday.
The counter opened at RM3.17 and hovered between RM3.11 and RM3.18 with 3.68 million shares traded.
HwangDBS Vickers Research said the 30 per cent growth target in sales for next financial year was achievable due to the launch of Battersea Phase 1 condominiums, RM4 billion Setia Eco Hills@Semenyih township and other projects.
"We see the RM40 billion gross development value for Battersea as a gamechanger which can potentially double earnings by financial years 2016 and 2017," it said in a note to Bernama.
The research firm has maintained a 'buy' call on SP Setia and with the target price at RM4.10 -- BERNAMA
December 11, 2012
On-track to meet earnings estimates with more goodies to come
Stock Name: SKPETRO
Company Name: SAPURAKENCANA PETROLEUM BHD
Company Name: SAPURAKENCANA PETROLEUM BHD
| Research House: MIDF | Price Call: BUY | Target Price: 3.96 |
Mah Sing - Right issue with bonus share and free warrant
Stock Name: MAHSING
Company Name: MAH SING GROUP BHD
Company Name: MAH SING GROUP BHD
| Research House: MIDF | Price Call: BUY | Target Price: 2.85 |
Making Cash Available for Future Acquisitions
Stock Name: MAHSING
Company Name: MAH SING GROUP BHD
Company Name: MAH SING GROUP BHD
| Research House: TA | Price Call: BUY | Target Price: 3.02 |
December 10, 2012
AmRes reaffirms strong 'buy' on BFood
Stock Name: BJFOOD
Company Name: BERJAYA FOOD BERHAD
AmResearch Sdn Bhd has re-affirmed its strong "buy" recommendation on Berjaya Food Bhd (BFood) following the company's acquisition of a 100 per cent equity stake in Singapore's Jollibean Foods Pte Ltd (JFPL).
The fair value has increased to RM1.55 per share against RM1.40 per share previously.
The research house said the acquisition was a positive move as it further strengthened the group's position as a regional food and beverage player.
"We see exciting growth plans mapped out, backed by its growing franchise value business model, and supportive operating dynamics.
"Management is also keen in expanding Sushi Deli in the medium-term, but the focus now is on Jollibean," said AmResearch in a note.
It said JFPL was forecast to generate at least S$0.75 million (RM1.87 million) in 2013 pre-tax earnings.
As such, BFood's earnings was expected to grow 97 per cent to RM22 million (inclusive Starbucks' nine months contribution).
"We retain our bullish conviction in BFood for its bright outlook, driven by a greater food and beverages portfolio of brands -- Kenny Rogers Roasters, Starbucks, Jollibean, Sushi Deli, Kopi Alley and Dango," it added. Bernama
Company Name: BERJAYA FOOD BERHAD
| Research House: AMMB | Price Call: BUY | Target Price: 1.55 |
AmResearch Sdn Bhd has re-affirmed its strong "buy" recommendation on Berjaya Food Bhd (BFood) following the company's acquisition of a 100 per cent equity stake in Singapore's Jollibean Foods Pte Ltd (JFPL).
The fair value has increased to RM1.55 per share against RM1.40 per share previously.
The research house said the acquisition was a positive move as it further strengthened the group's position as a regional food and beverage player.
"We see exciting growth plans mapped out, backed by its growing franchise value business model, and supportive operating dynamics.
"Management is also keen in expanding Sushi Deli in the medium-term, but the focus now is on Jollibean," said AmResearch in a note.
It said JFPL was forecast to generate at least S$0.75 million (RM1.87 million) in 2013 pre-tax earnings.
As such, BFood's earnings was expected to grow 97 per cent to RM22 million (inclusive Starbucks' nine months contribution).
"We retain our bullish conviction in BFood for its bright outlook, driven by a greater food and beverages portfolio of brands -- Kenny Rogers Roasters, Starbucks, Jollibean, Sushi Deli, Kopi Alley and Dango," it added. Bernama
Time dotCom surges to 3-year high
Stock Name: TIMECOM
Company Name: TIME DOTCOM BHD
KUALA LUMPUR: Time dotCom Bhd, a Malaysian Internet and payphone services operator, jumped the most in more than three years after proposing to distribute shares of DiGi.Com Bhd. valued at RM665.5 million (US$218 million) to shareholders as part of a dividend stock plan.
The stock surged 14 per cent to RM4 at 11:28 a.m. local time in Kuala Lumpur trading, poised for its steepest increase since April 10, 2009. It was the biggest gain on the FTSE Bursa Malaysia Top 100 Index, which added 0.6 per cent.
Time dotCom, which owns 275 million shares or a 3.5 per cent stake in DiGi, plans to distribute up to 137.5 million DiGi shares to shareholders as a dividend-in-specie, according to the statement. DiGi is Malaysia's third-largest mobile-phone operator by market value.
"It is just a matter of time before Time dotCom starts to reward its shareholders as we expect it to generate steady operating cash flow and become more self-sustaining," Low Yee Huap, an analyst at Hong Leong Financial Group Bhd, wrote in a report today. The proposal will "yield a massive 33.2 per cent return assuming one-time distribution." Low kept his buy call with a price estimate of RM4.66.
Shareholders will be awarded six DiGi shares for every 25 shares held, the company said. Time dotCom, based in Shah Alam in central Selangor state, operates a 9,000 kilometre fibre optics network traversing from Thailand to Singapore, according to its website. -- Bloomberg
Company Name: TIME DOTCOM BHD
| Research House: HLG | Price Call: BUY | Target Price: 4.66 |
KUALA LUMPUR: Time dotCom Bhd, a Malaysian Internet and payphone services operator, jumped the most in more than three years after proposing to distribute shares of DiGi.Com Bhd. valued at RM665.5 million (US$218 million) to shareholders as part of a dividend stock plan.
The stock surged 14 per cent to RM4 at 11:28 a.m. local time in Kuala Lumpur trading, poised for its steepest increase since April 10, 2009. It was the biggest gain on the FTSE Bursa Malaysia Top 100 Index, which added 0.6 per cent.
Time dotCom, which owns 275 million shares or a 3.5 per cent stake in DiGi, plans to distribute up to 137.5 million DiGi shares to shareholders as a dividend-in-specie, according to the statement. DiGi is Malaysia's third-largest mobile-phone operator by market value.
"It is just a matter of time before Time dotCom starts to reward its shareholders as we expect it to generate steady operating cash flow and become more self-sustaining," Low Yee Huap, an analyst at Hong Leong Financial Group Bhd, wrote in a report today. The proposal will "yield a massive 33.2 per cent return assuming one-time distribution." Low kept his buy call with a price estimate of RM4.66.
Shareholders will be awarded six DiGi shares for every 25 shares held, the company said. Time dotCom, based in Shah Alam in central Selangor state, operates a 9,000 kilometre fibre optics network traversing from Thailand to Singapore, according to its website. -- Bloomberg
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