May 3, 2013

Affin cuts 2013 palm oil price forecast

Stock Name: FGV
Company Name: FELDA GLOBAL VENTURES HLDG BHD
Research House: AFFINPrice Call: SELLTarget Price: 4.07



Affin Investment Bank cut its average selling price forecast on Malaysian crude palm oil this year to RM2,600 per tonne from RM2,800, citing a sluggish price outlook amid high inventory levels and an uncertain global economy.

"While exports may pick up again ahead of Ramadan, challenges remain - including uneven global growth, high palm oil stocks, the outbreak of the H7N9 virus in China, and likely delay in the implementation of B10 biodiesel policy," Affin said in a note on Friday.

The research house also slashed its price forecasts for 2014-2015 to RM2,700 from RM2,800.

Palm oil futures on the Bursa Malaysia Derivatives Exchange have lost 7.3 per cent so far this year.

Affin added that Malaysian planters now face new challenges including the revised criteria for producing certified sustainable palm oil and new regulations that cap plantation land ownership in Indonesia.

It also cut its rating on oil palm planter Felda Global Ventures Holdings Bhd's to 'reduce' from 'add' and lowered its target price to RM4.07 per share from RM4.64.

Affin upgraded Sarawak Plantation Bhd to 'buy' from 'add', and raised its target prices on IOI Corporation Bhd , Sime Darby Bhd, Genting Plantations Bhd, IJM Plantations Bhd by between four and 18 per cent.

Shares in Felda Global slipped 0.44 per cent against the Malaysian benchmark stock index's 0.36 per cent loss.-- Reuters

On the lookout for earnings surprises

Stock Name: DELEUM
Company Name: DELEUM BHD
Research House: ALLIANCEPrice Call: BUYTarget Price: 2.70



1QFY13 Results Report

Stock Name: NHFATT
Company Name: NEW HOONG FATT HOLDINGS BHD
Research House: NETRESEARCHPrice Call: BUYTarget Price: 3.20



May 2, 2013

April 30, 2013

Getting closer to meeting orderbook replenishment target

Stock Name: SUNWAY
Company Name: SUNWAY BERHAD
Research House: MIDFPrice Call: BUYTarget Price: 3.50



Continuous education and exposure to milk

Stock Name: DLADY
Company Name: DUTCH LADY MILK INDUSTRIES BHD
Research House: MIDFPrice Call: HOLDTarget Price: 46.30



NIM to improve in coming quarters with higher LD ratio

Stock Name: CIMB
Company Name: CIMB GROUP HOLDINGS BERHAD
Research House: MIDFPrice Call: HOLDTarget Price: 8.00



Petronas calls for tank farm EPCC contractors

Stock Name: SKPETRO
Company Name: SAPURAKENCANA PETROLEUM BHD
Research House: MIDFPrice Call: BUYTarget Price: 3.96



9MFY13 Earnings Within Expectation

Stock Name: FIBON
Company Name: FIBON BERHAD
Research House: TAPrice Call: HOLDTarget Price: 0.31



Lucrative disposal of subsidiary

Stock Name: NEXTNAT
Company Name: NEXTNATION COMMUNICATION BHD
Research House: TAPrice Call: SELLTarget Price: 0.08



Another Job Win from KLCC

Stock Name: SUNWAY
Company Name: SUNWAY BERHAD
Research House: TAPrice Call: SELLTarget Price: 3.14



In Line With Management Guidance

Stock Name: MPI
Company Name: MALAYSIAN PACIFIC INDUSTRIES
Research House: TAPrice Call: SELLTarget Price: 2.54



Better Contributions from M&As Envisaged

Stock Name: AMBANK
Company Name: AMMB HOLDINGS BHD
Research House: TAPrice Call: BUYTarget Price: 7.50



April 29, 2013

Foothold in Nusajaya

Stock Name: TM
Company Name: TELEKOM MALAYSIA BHD
Research House: TAPrice Call: HOLDTarget Price: 5.76



Likely Delay in KLIA2

Stock Name: AIRPORT
Company Name: MALAYSIA AIRPORTS HOLDINGS BHD
Research House: TAPrice Call: SELLTarget Price: 6.03



Buoyed by higher KLIA passenger traffic

Stock Name: AIRPORT
Company Name: MALAYSIA AIRPORTS HOLDINGS BHD
Research House: MIDFPrice Call: BUYTarget Price: 6.63



4Q Earnings Growth Tends To Slow Down

Stock Name: SKPRES
Company Name: SKP RESOURCES BHD
Research House: TAPrice Call: BUYTarget Price: 0.50



Lacklustre 1Q13 Result

Stock Name: EPMB
Company Name: EP MANUFACTURING BHD
Research House: TAPrice Call: SELLTarget Price: 0.67



Affin raises KLCC Property price target

Stock Name: KLCCP
Company Name: KLCC PROPERTY HOLDINGS BHD
Research House: AFFINPrice Call: BUYTarget Price: 7.50



Affin Investment Bank Research raised its target price on shares of KLCC Property Holdings Bhd to RM7.50 from RM7.20 as it expects the company's stocks to trade at a premium valuation following a restructuring exercise.

Shares of the company, which have been suspended since April 23, will merge with units of KLCC Real Estate Investment Trust (REIT) to create a market capitalisation of RM12.1 billion, said Affin.

The new entity will be supported by a low level of debt and a stable of prime assets, it added.

The brokerage, however, downgraded KLCC Property to 'add' from 'buy' as it expects a lower upside from the stock.

The new entity comprising KLCC Property and KLCC REIT is expected to list on the local bourse in early May, as the restructuring exercise is said to be progressing well.-- Reuters