October 4, 2013

October 2, 2013

Acquires 1,352 acres freehold land in Pasir Gudang

Stock Name: MAHSING
Company Name: MAH SING GROUP BHD
Research House: TAPrice Call: BUYTarget Price: 2.73



Mah Sing - Embarking on a new township development in Johor

Stock Name: MAHSING
Company Name: MAH SING GROUP BHD
Research House: MIDFPrice Call: BUYTarget Price: 2.62



Update Report

Stock Name: TECNIC
Company Name: TECNIC GROUP BERHAD
Research House: NETRESEARCHPrice Call: BUYTarget Price: 3.70



HSL - First job in 2H13

Stock Name: HSL
Company Name: HOCK SENG LEE BHD
Research House: MIDFPrice Call: HOLDTarget Price: 1.80



Tan Chong - Termination of SYM motorcycle distributorship in Laos

Stock Name: TCHONG
Company Name: TAN CHONG MOTOR HOLDINGS BHD
Research House: MIDFPrice Call: BUYTarget Price: 7.70



Favelle Favco rises on offshore crane orders

Stock Name: FAVCO
Company Name: FAVELLE FAVCO BHD
Research House: RHBPrice Call: BUYTarget Price: 3.55



Favelle Favco Bhd's (FFB) share price rose 10 sen or 3.75 per cent to RM2.77 as at 10.16 am, boosted by purchase orders for
supply of offshore cranes for a combined value of RM109 million it has received.

A total of 101,900 shares exchanged hands.

RHB Research said the purchase orders have lifted FFB's year-to-date (YTD) new orders to RM607.4 million and have boosted its orderbook to RM936.3 million.

"We make no changes to our Financial Year 2013-2014 earnings per share forecast as the bulk of the orders are only expected to be delivered by 2015.

"The only risk to our forecast is a higher-than-expected tax rate of 20 per cent in Financial Year 2013-2014 after the expiration of its pioneer tax status," the research house said in a note today.

The research firm maintained a "buy" call on FFB's shares, with a fair value of RM3.55, as earnings growth remain robust, backed by a strong orderbook and earnings visibility in the Financial Year 2015.-- Bernama