June 14, 2013

No material impact to earnings from goodwill payment

Stock Name: AFG
Company Name: ALLIANCE FINANCIAL GROUP BHD
Research House: MIDFPrice Call: HOLDTarget Price: 4.50



Landbanking strategy paying off

Stock Name: GLOMAC
Company Name: GLOMAC BHD
Research House: MIDFPrice Call: BUYTarget Price: 1.46



Latex Margin Compression

Stock Name: TOPGLOV
Company Name: TOP GLOVE CORPORATION BHD
Research House: TAPrice Call: BUYTarget Price: 7.10



Acquisition of Lands in Rawang

Stock Name: GAMUDA
Company Name: GAMUDA BHD
Research House: TAPrice Call: HOLDTarget Price: 5.20



Tie up with Manulife Insurance Bhd

Stock Name: AFG
Company Name: ALLIANCE FINANCIAL GROUP BHD
Research House: TAPrice Call: SELLTarget Price: 4.60



MIDF downgrades Top Glove to 'neutral'

Stock Name: TOPGLOV
Company Name: TOP GLOVE CORPORATION BHD
Research House: MIDFPrice Call: HOLDTarget Price: 6.05



MIDF Research has downgraded Top Glove Corp Bhd, the world's largest rubber glove maker, to 'neutral' from 'buy' as it sees a limited upside following the strengthening of the company's shares recently.

The stock has gained 12.8 per cent since the beginning of the year, according to data by Thomson Reuters, with eight 'buy' recommendations and one 'sell', MIDF, in a report on Friday, said.

Top Glove's net earnings for the nine months ended May 31 fell below expectations, as the company lowered its product prices. The brokerage maintained its target price of RM6.05 for Top Glove.

Shares of the company were down 1.26 per cent to RM6.26 while the benchmark index was up 0.67 per cent at 9.17am.-- Reuters

Affin raises SP Setia to 'trading buy'

Stock Name: SPSETIA
Company Name: SP SETIA BHD
Research House: AFFINPrice Call: BUYTarget Price: 4.14



Affin Investment Bank upgraded SP Setia Bhd to 'trading buy' from 'add', citing higher annual property sales going forward in view of the company's strong year-to-date sales and improved property market sentiment post election.

The research house also raised its target price on the shares of the company to RM4.14 from RM3.35.

"We view SP Setia as an attractive laggard play," the research house said in a note on Friday.

"Its share price has grossly underperformed peers despite its commendable, record year to date property sales."

Moving forward, Affin said it believes investors will shift their focus from the likely retirement of SP Setia's chief executive Liew Kee Sin to the company's strong fundamentals.

Shares of the company rose 0.3 per cent to RM3.39, underpeforming the KL property benchmark index's 1.28 per cent rise.-- Reuters

June 11, 2013

June 10, 2013

Update Report

Stock Name: SNTORIA
Company Name: SENTORIA GROUP BERHAD
Research House: NETRESEARCHPrice Call: BUYTarget Price: 0.80