Stock Name: SKPETRO
Company Name: SAPURAKENCANA PETROLEUM BHD
Company Name: SAPURAKENCANA PETROLEUM BHD
| Research House: TA | Price Call: BUY | Target Price: 3.83 |
March 22, 2013
Harvesting the fruits of merger - stronger years beckon
Stock Name: SKPETRO
Company Name: SAPURAKENCANA PETROLEUM BHD
Company Name: SAPURAKENCANA PETROLEUM BHD
| Research House: MIDF | Price Call: BUY | Target Price: 3.96 |
Disappointing 3QFY13 after strong 1HFY13
Stock Name: NEXTNAT
Company Name: NEXTNATION COMMUNICATION BHD
Company Name: NEXTNATION COMMUNICATION BHD
| Research House: TA | Price Call: SELL | Target Price: 0.08 |
March 21, 2013
TA raises Glomac target price
Stock Name: GLOMAC
Company Name: GLOMAC BHD
TA Securities raised its target price on Glomac Bhd to RM1.17 per share from 98 sen, saying it expects the property developer to secure higher sales through financial year 2015.
"The increase in sales projections is to reflect stronger-than-expected sales from its existing township projects, and higher potential gross development value for the group's new township developments in Puchong and Dengkil," TA said in a research note on Thursday.
The research house said it projects Glomac to secure new sales of RM760 million in the financial year ending April 30, 2013 (FY13), RM890 million in FY14 and RM953 million in FY15.
"We keep our FY13 earnings unchanged," said TA. "However, we tweak our FY14 and FY15 net profit forecasts upward by 4.3 per cent and 4.8 per cent respectively to account for changes in our sales assumptions."
TA maintained 'buy' on Glomac.
The counter dropped 0.51 per cent to 98 sen a share, while the KL property stocks index declined 0.96 per cent.-- Reuters
Company Name: GLOMAC BHD
| Research House: TA | Price Call: BUY | Target Price: 1.17 |
TA Securities raised its target price on Glomac Bhd to RM1.17 per share from 98 sen, saying it expects the property developer to secure higher sales through financial year 2015.
"The increase in sales projections is to reflect stronger-than-expected sales from its existing township projects, and higher potential gross development value for the group's new township developments in Puchong and Dengkil," TA said in a research note on Thursday.
The research house said it projects Glomac to secure new sales of RM760 million in the financial year ending April 30, 2013 (FY13), RM890 million in FY14 and RM953 million in FY15.
"We keep our FY13 earnings unchanged," said TA. "However, we tweak our FY14 and FY15 net profit forecasts upward by 4.3 per cent and 4.8 per cent respectively to account for changes in our sales assumptions."
TA maintained 'buy' on Glomac.
The counter dropped 0.51 per cent to 98 sen a share, while the KL property stocks index declined 0.96 per cent.-- Reuters
JV with one of the largest developers in Japan
Stock Name: E&O
Company Name: EASTERN & ORIENTAL BHD
Company Name: EASTERN & ORIENTAL BHD
| Research House: MIDF | Price Call: BUY | Target Price: 1.91 |
March 20, 2013
Growth Opportunities in Islamic Finance
Stock Name: MAYBANK
Company Name: MALAYAN BANKING BHD
Company Name: MALAYAN BANKING BHD
| Research House: TA | Price Call: BUY | Target Price: 11.30 |
Affin downgrades UMW to 'reduce'
Stock Name: UMW
Company Name: UMW HOLDINGS BHD
Affin Investment Bank downgraded UMW Holdings Bhd to 'reduce' from 'add', with an unchanged fair value of RM12.40 per share, saying the automotive-to-oil and gas conglomerate is fully valued now and offers less compelling risk-reward.
"We continue to like management's drive and handle of the company, and this tactical downgrade is predominantly in reference to valuations as opposed to operational issues," the research house said in a note on Wednesday.
Affin said the risk-reward of UMW is less compelling now given potential earnings headwinds as the automotive sector faces intense competition. It said investors have priced in the listing of the oil and gas division with an estimated market capitalisation of RM1.5 billion.
"All in, we opine that our street-centric earnings is already embedded with a positive analyst bias and as such, there may be limited scope for potential earnings surprises in 2013," it added.
Shares of UMW rose 85.17 per cent over the past one year, while the benchmark stock index climbed 3.18 per cent.
The counter remained unchanged at RM13.24 per share, outperforming the benchmark stock index's 0.17 per cent drop.-- Reuters
Company Name: UMW HOLDINGS BHD
| Research House: AFFIN | Price Call: SELL | Target Price: 12.40 |
Affin Investment Bank downgraded UMW Holdings Bhd to 'reduce' from 'add', with an unchanged fair value of RM12.40 per share, saying the automotive-to-oil and gas conglomerate is fully valued now and offers less compelling risk-reward.
"We continue to like management's drive and handle of the company, and this tactical downgrade is predominantly in reference to valuations as opposed to operational issues," the research house said in a note on Wednesday.
Affin said the risk-reward of UMW is less compelling now given potential earnings headwinds as the automotive sector faces intense competition. It said investors have priced in the listing of the oil and gas division with an estimated market capitalisation of RM1.5 billion.
"All in, we opine that our street-centric earnings is already embedded with a positive analyst bias and as such, there may be limited scope for potential earnings surprises in 2013," it added.
Shares of UMW rose 85.17 per cent over the past one year, while the benchmark stock index climbed 3.18 per cent.
The counter remained unchanged at RM13.24 per share, outperforming the benchmark stock index's 0.17 per cent drop.-- Reuters
March 19, 2013
Normalisation in 3QFY13 Earnings
Stock Name: BJTOTO
Company Name: BERJAYA SPORTS TOTO BHD
Company Name: BERJAYA SPORTS TOTO BHD
| Research House: TA | Price Call: BUY | Target Price: 5.05 |
Yet another fund raising exercise
Stock Name: NEXTNAT
Company Name: NEXTNATION COMMUNICATION BHD
Company Name: NEXTNATION COMMUNICATION BHD
| Research House: TA | Price Call: SELL | Target Price: 0.09 |
March 18, 2013
Attractive Buy
Stock Name: BSTEAD
Company Name: BOUSTEAD HOLDINGS BHD
Company Name: BOUSTEAD HOLDINGS BHD
| Research House: TA | Price Call: BUY | Target Price: 6.06 |
RHB raises oil and gas to 'overweight'
Stock Name: SKPETRO
Company Name: SAPURAKENCANA PETROLEUM BHD
Stock Name: ARMADA
Company Name: BUMI ARMADA BERHAD
Stock Name: ALAM
Company Name: ALAM MARITIM RESOURCES BHD
Stock Name: PERDANA
Company Name: PERDANA PETROLEUM BERHAD
RHB Research upgraded Malaysia's oil and gas sector to 'overweight' from 'neutral', citing an improvement in jobs visibility as state-owned Petroliam Nasional Bhd pushes for domestic production growth.
"Petronas' focus on domestic production will benefit local service providers," the research house said in a note on Monday.
In anticipation of multiple contract awards, RHB said SapuraKencana Petroleum Bhd and Bumi Armada Bhd were its large-cap top picks while Alam Maritim Resources Bhd and Perdana Petroleum Bhd were its picks among the small caps.
"Production aside, exploration activities are also expected to be robust," RHB said.
RHB had a fair value of RM3.76 per share on SapuraKencana, RM4.35 on Bumi Armada, RM1.25 on Alam Maritim and RM1.40 on Perdana Petroleum.
As of 0156 GMT, SapuraKenanca dropped 0.98 per cent to RM3.03, Bumi Armada declined 1.06 per cent to RM3.72 while Alam Maritim dropped 0.57 per cent to 88 sen. Perdana Petroleum rose 0.79 per cent to RM1.27.
The benchmark stock index dropped 0.57 per cent. -- Reuters
Company Name: SAPURAKENCANA PETROLEUM BHD
| Research House: RHB | Price Call: BUY | Target Price: 3.76 |
Stock Name: ARMADA
Company Name: BUMI ARMADA BERHAD
| Research House: RHB | Price Call: BUY | Target Price: 4.35 |
Stock Name: ALAM
Company Name: ALAM MARITIM RESOURCES BHD
| Research House: RHB | Price Call: BUY | Target Price: 1.25 |
Stock Name: PERDANA
Company Name: PERDANA PETROLEUM BERHAD
| Research House: RHB | Price Call: BUY | Target Price: 1.40 |
RHB Research upgraded Malaysia's oil and gas sector to 'overweight' from 'neutral', citing an improvement in jobs visibility as state-owned Petroliam Nasional Bhd pushes for domestic production growth.
"Petronas' focus on domestic production will benefit local service providers," the research house said in a note on Monday.
In anticipation of multiple contract awards, RHB said SapuraKencana Petroleum Bhd and Bumi Armada Bhd were its large-cap top picks while Alam Maritim Resources Bhd and Perdana Petroleum Bhd were its picks among the small caps.
"Production aside, exploration activities are also expected to be robust," RHB said.
RHB had a fair value of RM3.76 per share on SapuraKencana, RM4.35 on Bumi Armada, RM1.25 on Alam Maritim and RM1.40 on Perdana Petroleum.
As of 0156 GMT, SapuraKenanca dropped 0.98 per cent to RM3.03, Bumi Armada declined 1.06 per cent to RM3.72 while Alam Maritim dropped 0.57 per cent to 88 sen. Perdana Petroleum rose 0.79 per cent to RM1.27.
The benchmark stock index dropped 0.57 per cent. -- Reuters
RHBCap soars on privatisation news
Stock Name: RHBCAP
Company Name: RHB CAPITAL BHD
KUALA LUMPUR: RHB Capital Bhd's (RHBCap) shares were traded higher in morning session Monday spurred by news on its possible privatisation, dealers said.
At 11.12am, the investment holding company gained 0.36 per cent or three sen to RM8.48, after hovering between RM8.44 and RM8.56, with 550,600 shares traded.
It was reported that a proposal to privatise RHBCap is on the cards.
The rationale as stated is to prepare the banking group to meet changes proposed by the Financial Services Act (which will include Bank Negara having regulatory supervision on financial holding companies), and to create a more efficient platform for dividend payments and strengthen its capital base.
HwangDBS Vickers Research took the news as positive for RHBCap.
"We see these potential developments to be positive if these materialise. Such a restructuring could put the eventually to be listed RHB Bank Bhd in an improved capital position," it said in a note.
The research house is maintaining its "buy" call on RHBCap with a target price of RM9.30. -- BERNAMA
Company Name: RHB CAPITAL BHD
| Research House: RHB | Price Call: BUY | Target Price: 9.30 |
KUALA LUMPUR: RHB Capital Bhd's (RHBCap) shares were traded higher in morning session Monday spurred by news on its possible privatisation, dealers said.
At 11.12am, the investment holding company gained 0.36 per cent or three sen to RM8.48, after hovering between RM8.44 and RM8.56, with 550,600 shares traded.
It was reported that a proposal to privatise RHBCap is on the cards.
The rationale as stated is to prepare the banking group to meet changes proposed by the Financial Services Act (which will include Bank Negara having regulatory supervision on financial holding companies), and to create a more efficient platform for dividend payments and strengthen its capital base.
HwangDBS Vickers Research took the news as positive for RHBCap.
"We see these potential developments to be positive if these materialise. Such a restructuring could put the eventually to be listed RHB Bank Bhd in an improved capital position," it said in a note.
The research house is maintaining its "buy" call on RHBCap with a target price of RM9.30. -- BERNAMA
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