December 30, 2014

December 29, 2014

December 26, 2014

FFB Output Accelerates

Stock Name: UMCCA
Company Name: UNITED MALACCA BHD
Research House: TAPrice Call: BUYTarget Price: 7.83



December 22, 2014

December 18, 2014

Constructing into prosperity

Stock Name: MUHIBAH
Company Name: MUHIBBAH ENGINEERING (M) BHD
Research House: MIDFPrice Call: BUYTarget Price: 2.74



Resilient Start!

Stock Name: SCIENTX
Company Name: SCIENTEX BERHAD
Research House: TAPrice Call: BUYTarget Price: 8.56



Research houses positive on SP Setia

Stock Name: SPSETIA
Company Name: SP SETIA BHD
Research House: ALLIANCEPrice Call: BUYTarget Price: 4.10



ALLIANCE DBS Research is maintaining a "buy" rating on SP Setia Bhd, with a target price of RM4.10, following its commendable fourth quarter results.

SP Setia reported fourth quarter earnings of RM131 million, a 27 per cent increase quarter-on-quarter and a three per cent rise year-on-year, taking its 2014 financial year earnings to RM406 million.

"The higher-than-anticipated 4QFY14 earnings were largely due to the strong turnaround of its construction division as well as higher profit recognition from completed projects," said the research house.

SP Setia achieved RM4.6 billion in property sales in FY14, with RM1.2 billion from its Battersea Power Station project and RM2.1 billion from Malaysian projects, it said.

Affin Hwang Research has maintained its "reduce" call on SP Setia, with a lower target price of RM2.78.

"We have lowered our FY15-FY16 estimation earnings forecasts by 6.1 per cent and 2.3 per cent, respectively, after updating FY10/14 figures and assuming a higher associate loss.

"Although we like SP Setia for its strategic landbank and high unbilled sales of RM11 billion, we opine that the persistent uncertainty over the group's strategic direction and leadership transition will lead to further exodus of talent," it said.

Hong Leong Investment Bank Research has kept its "hold" call on SP Setia, with target price unchanged at RM3.45, believing the property market will remain weak next year. Bernama

December 17, 2014

December 8, 2014

December 6, 2014

Deleum hit by oil and gas sector de-rating

Stock Name: DELEUM
Company Name: DELEUM BHD
Research House: ALLIANCEPrice Call: HOLDTarget Price: 1.65



ALLIANCE DBS Research has maintained a "hold" call on Deleum Bhd with a lower target price of RM1.65 from RM1.90 previously, following the broad oil and gas sector's de-rating.

In a note, the research house said this was because Deleum has a 50 per cent dividend payout policy, which at the current share price implied an attractive 5.3 per cent yield.

"Deleum has resilient earnings with RM3.8 billion orderbook. We expect crude price to hold at between US$70 and US$80 (RM243 and RM278) per barrel next year versus our previous assumption of US$95, but there will be minimal impact on Deleum's earnings," the research house said.

The key contracts in Deleum's RM3.8 billion orderbook were the 10-year service agreement for turbomachinery services involving small gas turbines and a five-year well maintenance contract to provide slickline services, it said. Bernama

December 5, 2014

PPB Group Bhd RR 3Q FY 2014

Stock Name: PPB
Company Name: PPB GROUP BHD
Research House: WILSON & YORKPrice Call: HOLDTarget Price: 17.08



December 3, 2014

NPC Resources Bhd RR 3Q FY 2014

Stock Name: NPC
Company Name: NPC RESOURCES BHD
Research House: WILSON & YORKPrice Call: HOLDTarget Price: 2.80



December 2, 2014

November 24, 2014

Smooth Sailing

Stock Name: SKPRES
Company Name: SKP RESOURCES BHD
Research House: TAPrice Call: BUYTarget Price: 1.10



3QFY14 Results Report

Stock Name: TECNIC
Company Name: TECNIC GROUP BERHAD
Research House: NETRESEARCHPrice Call: HOLDTarget Price: 5.40



3QFY14 Results Report

Stock Name: SOP
Company Name: SARAWAK OIL PALMS BHD
Research House: NETRESEARCHPrice Call: HOLDTarget Price: 6.20



Cost Control Measures to Preserve Margin

Stock Name: STAR
Company Name: STAR PUBLICATIONS (M) BHD
Research House: TAPrice Call: HOLDTarget Price: 2.52



Slow start to FY15

Stock Name: IOIPG
Company Name: IOI PROPERTIES GROUP BERHAD
Research House: TAPrice Call: BUYTarget Price: 3.01



Earnings Support from UK Operations

Stock Name: GENM
Company Name: GENTING MALAYSIA BERHAD
Research House: TAPrice Call: HOLDTarget Price: 4.57



9M14 Earnings Holding Up Well

Stock Name: GENTING
Company Name: GENTING BHD
Research House: TAPrice Call: BUYTarget Price: 11.88



November 20, 2014

EEIT was the star performer

Stock Name: STAR
Company Name: STAR PUBLICATIONS (M) BHD
Research House: MIDFPrice Call: HOLDTarget Price: 2.50



Higher finance cost and lower CPO price eroded margin

Stock Name: THPLANT
Company Name: TH PLANTATIONS BHD
Research House: MIDFPrice Call: BUYTarget Price: 2.00



Subdued loan growth due to conservative risk appetite

Stock Name: AMBANK
Company Name: AMMB HOLDINGS BHD
Research House: MIDFPrice Call: HOLDTarget Price: 7.30



Troubled by the rise of APs

Stock Name: MSM
Company Name: MSM MALAYSIA HOLDINGS BERHAD
Research House: MIDFPrice Call: HOLDTarget Price: 5.13



Downward pressure of downstream segment

Stock Name: KLK
Company Name: KUALA LUMPUR KEPONG BHD
Research House: MIDFPrice Call: HOLDTarget Price: 20.04



Extended losses

Stock Name: AAX
Company Name: AIRASIA X BERHAD
Research House: MIDFPrice Call: HOLDTarget Price: 0.69



Better 2H Outlook

Stock Name: AMBANK
Company Name: AMMB HOLDINGS BHD
Research House: TAPrice Call: HOLDTarget Price: 7.30



4Q14 – Downstream Slip into the Red

Stock Name: KLK
Company Name: KUALA LUMPUR KEPONG BHD
Research House: TAPrice Call: SELLTarget Price: 19.27



Looking Forward to Year of Festivals 2015

Stock Name: AIRASIA
Company Name: AIRASIA BHD
Research House: TAPrice Call: HOLDTarget Price: 2.78



Operating Environment Remains Challenging

Stock Name: STAR
Company Name: STAR PUBLICATIONS (M) BHD
Research House: TAPrice Call: SELLTarget Price: 2.52



Expect brighter prospects ahead

Stock Name: AIRASIA
Company Name: AIRASIA BHD
Research House: MIDFPrice Call: BUYTarget Price: 2.94



4QFY14: Weigh down by downstream division

Stock Name: KLK
Company Name: KUALA LUMPUR KEPONG BHD
Research House: JF APEXPrice Call: HOLDTarget Price: 22.00



November 14, 2014

Next stage of growth

Stock Name: SUNWAY
Company Name: SUNWAY BERHAD
Research House: MIDFPrice Call: BUYTarget Price: 3.72



No near term re-rating catalyst

Stock Name: MAXIS
Company Name: MAXIS BERHAD
Research House: MIDFPrice Call: HOLDTarget Price: 6.34



1QFY15 Results Report

Stock Name: GDEX
Company Name: GD EXPRESS CARRIER BHD
Research House: NETRESEARCHPrice Call: HOLDTarget Price: 2.00



Impacted by Data Repricing

Stock Name: MAXIS
Company Name: MAXIS BERHAD
Research House: TAPrice Call: SELLTarget Price: 7.19



Facing Slowdown in the Industrial and Consumer Segments

Stock Name: MPI
Company Name: MALAYSIAN PACIFIC INDUSTRIES
Research House: TAPrice Call: BUYTarget Price: 6.70



3Q14 in line; iPhone 6 to lift 4Q

Stock Name: MAXIS
Company Name: MAXIS BERHAD
Research House: JF APEXPrice Call: HOLDTarget Price: 6.70



November 13, 2014

November 8, 2014

November 3, 2014

Electrifying Prospect

Stock Name: TENAGA
Company Name: TENAGA NASIONAL BHD
Research House: TAPrice Call: BUYTarget Price: 15.90



A fairly good year for TNB

Stock Name: TENAGA
Company Name: TENAGA NASIONAL BHD
Research House: MIDFPrice Call: HOLDTarget Price: 14.23



October 30, 2014

A defensive consumer play

Stock Name: QL
Company Name: QL RESOURCES BHD
Research House: JF APEXPrice Call: BUYTarget Price: 3.90



Axis Turnaround Unfolding

Stock Name: AXIATA
Company Name: AXIATA GROUP BERHAD
Research House: TAPrice Call: SELLTarget Price: 6.96



KVMRT Line 2 is on!

Stock Name: GAMUDA
Company Name: GAMUDA BHD
Research House: TAPrice Call: SELLTarget Price: 5.17



Shopping centre job lifts orderbook to almost RM3b

Stock Name: WCT
Company Name: WCT HOLDINGS BERHAD
Research House: MIDFPrice Call: BUYTarget Price: 2.59



Subsidy rationalisation in motion

Stock Name: GASMSIA
Company Name: GAS MALAYSIA BERHAD
Research House: MIDFPrice Call: HOLDTarget Price: 3.84



Official PDP appointment for MRT Line 2

Stock Name: GAMUDA
Company Name: GAMUDA BHD
Research House: MIDFPrice Call: BUYTarget Price: 5.28



Pressures on NIM and asset quality likely to persist in near term

Stock Name: CIMB
Company Name: CIMB GROUP HOLDINGS BERHAD
Research House: MIDFPrice Call: HOLDTarget Price: 7.27



October 28, 2014

October 24, 2014

October 21, 2014

October 20, 2014

October 9, 2014

October 8, 2014

October 7, 2014

September 23, 2014

September 18, 2014

September 11, 2014

September 8, 2014

FGV - Expansion Plan on the Go

Stock Name: FGV
Company Name: FELDA GLOBAL VENTURES HLDG BHD
Research House: TAPrice Call: HOLDTarget Price: 4.21



MAHSING - Puchong Site Visit

Stock Name: MAHSING
Company Name: MAH SING GROUP BHD
Research House: TAPrice Call: BUYTarget Price: 2.98



NPC Resources Bhd RR 2Q FY 2014

Stock Name: NPC
Company Name: NPC RESOURCES BHD
Research House: WILSON & YORKPrice Call: HOLDTarget Price: 2.60



PPB Group Bhd RR 2Q FY 2014

Stock Name: PPB
Company Name: PPB GROUP BHD
Research House: WILSON & YORKPrice Call: HOLDTarget Price: 16.88



September 4, 2014

LEONFB - 2QFY14 results within expectations

Stock Name: LEONFB
Company Name: LEON FUAT BERHAD
Research House: ZJPrice Call: BUYTarget Price: 0.68



Research house raises TSH target price to RM3.70

Stock Name: TSH
Company Name: TSH RESOURCES BHD
Research House: MAYBANKPrice Call: BUYTarget Price: 3.70



MAYBANK Investment Bank (Maybank IB) has revised upwards TSH Resources Bhd's valuation to "buy" from "hold" after the company's first-half performance outperformed the investment bank's expectation.

The bank also increased TSH's target price to RM3.70 from RM3.40 previously.

Maybank IB said TSH's second quarter core net profit surged 107 per cent to RM45 million year-on-year (YoY), bringing the first half core net profit to RM85 million or 59 per cent of the bank's full-year estimates.

The bank said the better-than-expected performance was mainly attributed to lower-than-expected cost of production per tonne and above expectation fresh fruit bunches (FFB) output (up four per cent quarter-on-quarter and 34 per cent YoY), driven by its young Indonesian estates.

Also contributing to the better results was the lower-than-expected tax expense due to tax incentives in respect of its pioneer and bionexus status, it said.

Maybank IB said TSH's first half FFB output growth of 28 per cent YoY was significantly above the bank's 2014 growth forecast of 20 per cent.

"Buoyed by its young tree age profile, TSH will deliver strong double-digit production growth, buffering weakness in crude palm oil price," it said. Bernama

Favelle Favco - Update on new orders

Stock Name: FAVCO
Company Name: FAVELLE FAVCO BHD
Research House: MIDFPrice Call: BUYTarget Price: 3.81



August 18, 2014

August 11, 2014

HARTA - Laying Foundations for the Future

Stock Name: HARTA
Company Name: HARTALEGA HOLDINGS BHD
Research House: TAPrice Call: HOLDTarget Price: 7.30



KAREX - This is “The One”

Stock Name: KAREX
Company Name: KAREX BERHAD
Research House: TAPrice Call: BUYTarget Price: 3.50



PETDAG - More Conviction Needed for a Re-rate

Stock Name: PETDAG
Company Name: PETRONAS DAGANGAN BHD
Research House: TAPrice Call: SELLTarget Price: 18.73



PETGAS - The Regasification Power!

Stock Name: PETGAS
Company Name: PETRONAS GAS BHD
Research House: TAPrice Call: SELLTarget Price: 22.70



GLOTEC - Update Report

Stock Name: GLOTEC
Company Name: GLOBALTEC FORMATION BERHAD
Research House: NETRESEARCHPrice Call: HOLDTarget Price: 0.07



SCIENTX - Expanding BOPP Segment Post Seacera Acquisition

Stock Name: SCIENTX
Company Name: SCIENTEX BERHAD
Research House: TAPrice Call: BUYTarget Price: 7.28



PETGAS - Regasification segment now a major group contributor

Stock Name: PETGAS
Company Name: PETRONAS GAS BHD
Research House: MIDFPrice Call: HOLDTarget Price: 21.38



August 8, 2014

August 6, 2014

IRIS - Caught in the Middle

Stock Name: IRIS
Company Name: IRIS CORPORATION BHD
Research House: TAPrice Call: BUYTarget Price: 0.55



Protasco - Oil & Gas acquisition in Indonesia called off

Stock Name: PRTASCO
Company Name: PROTASCO BHD
Research House: MIDFPrice Call: BUYTarget Price: 2.69



GTRONIC - Higher earnings from ramp-up in production

Stock Name: GTRONIC
Company Name: GLOBETRONICS TECHNOLOGY BHD
Research House: MIDFPrice Call: BUYTarget Price: 5.45



Hartalega - Sentiment-driven opportunistic buy

Stock Name: HARTA
Company Name: HARTALEGA HOLDINGS BHD
Research House: MIDFPrice Call: TRADING BUYTarget Price: 7.10



MHB - Full year earnings likely to disappoint

Stock Name: MHB
Company Name: MALAYSIA MARINE AND HEAVY ENG
Research House: MIDFPrice Call: SELLTarget Price: 2.78



HARTA - More Normalised Tax Rate

Stock Name: HARTA
Company Name: HARTALEGA HOLDINGS BHD
Research House: TAPrice Call: HOLDTarget Price: 7.30



MHB - Shrinking Profits & Orderbook

Stock Name: MHB
Company Name: MALAYSIA MARINE AND HEAVY ENG
Research House: TAPrice Call: SELLTarget Price: 3.72



TALIWRK - 2QFY14 Results Update

Stock Name: TALIWRK
Company Name: TALIWORKS CORPORATION BHD
Research House: NETRESEARCHPrice Call: BUYTarget Price: 1.38



August 5, 2014

July 30, 2014

July 25, 2014

PBBANK - 1HFY14 Results Within Expectations

Stock Name: PBBANK
Company Name: PUBLIC BANK BHD
Research House: TAPrice Call: SELLTarget Price: 19.00



UNISEM - Recovery in Motion

Stock Name: UNISEM
Company Name: UNISEM (M) BHD
Research House: TAPrice Call: BUYTarget Price: 2.10



AIRPORT - Cost Escalation Post KLIA2 Opening

Stock Name: AIRPORT
Company Name: MALAYSIA AIRPORTS HOLDINGS BHD
Research House: TAPrice Call: SELLTarget Price: 7.82



GADANG - More upsides seen

Stock Name: GADANG
Company Name: GADANG HOLDINGS BHD
Research House: JF APEXPrice Call: BUYTarget Price: 2.57



CIMB - Loan loss provisions may trend higher in subsequent quarters

Stock Name: CIMB
Company Name: CIMB GROUP HOLDINGS BERHAD
Research House: MIDFPrice Call: HOLDTarget Price: 7.80



Daibochi - An interesting year ahead 2015

Stock Name: DAIBOCI
Company Name: DAIBOCHI PLASTIC & PACKAGING
Research House: MIDFPrice Call: HOLDTarget Price: 4.61



AIRPORT - KLIA2 depreciation hits as international passenger traffic stalls

Stock Name: AIRPORT
Company Name: MALAYSIA AIRPORTS HOLDINGS BHD
Research House: MIDFPrice Call: HOLDTarget Price: 8.02



MRCB - Acquiring remaining stakes

Stock Name: MRCB
Company Name: MALAYSIAN RESOURCES CORP
Research House: MIDFPrice Call: BUYTarget Price: 2.16



Protasco - Fundamental intact

Stock Name: PRTASCO
Company Name: PROTASCO BHD
Research House: MIDFPrice Call: BUYTarget Price: 2.90



PBBANK - ROE likely to continue to trend lower moving forward

Stock Name: PBBANK
Company Name: PUBLIC BANK BHD
Research House: MIDFPrice Call: HOLDTarget Price: 19.60



Unisem - Positive momentum priced-in

Stock Name: UNISEM
Company Name: UNISEM (M) BHD
Research House: MIDFPrice Call: BUYTarget Price: 1.60



July 23, 2014

BAT - “Ops Outlet” – Positive Impact on TIV

Stock Name: BAT
Company Name: BRITISH AMERICAN TOBACCO (M)
Research House: TAPrice Call: SELLTarget Price: 63.09



MAXIS - Disappointing Subscriber Traction & Service Revenue

Stock Name: MAXIS
Company Name: MAXIS BERHAD
Research House: TAPrice Call: SELLTarget Price: 7.34



WCT - New Contract Win After Long Drought

Stock Name: WCT
Company Name: WCT HOLDINGS BERHAD
Research House: TAPrice Call: HOLDTarget Price: 2.31



MAXIS - 2Q14: Lower non-service revenue

Stock Name: MAXIS
Company Name: MAXIS BERHAD
Research House: JF APEXPrice Call: HOLDTarget Price: 6.50



MAXIS - FY15 dividend likely to fall below 40 sen

Stock Name: MAXIS
Company Name: MAXIS BERHAD
Research House: MIDFPrice Call: HOLDTarget Price: 6.34



WCT Holdings - RM342m job from Petronas

Stock Name: WCT
Company Name: WCT HOLDINGS BERHAD
Research House: MIDFPrice Call: BUYTarget Price: 2.88



ZHULIAN - Another weak quarter...

Stock Name: ZHULIAN
Company Name: ZHULIAN CORPORATION BHD
Research House: ZJPrice Call: HOLDTarget Price: 2.62



July 18, 2014

July 7, 2014

SIME - To dispose land to EO

Stock Name: SIME
Company Name: SIME DARBY BHD
Research House: MIDFPrice Call: HOLDTarget Price: 9.70



MPI - Suzhou Plant to Fuel Growth

Stock Name: MPI
Company Name: MALAYSIAN PACIFIC INDUSTRIES
Research House: TAPrice Call: BUYTarget Price: 5.80



SIME - Firing Up…

Stock Name: SIME
Company Name: SIME DARBY BHD
Research House: TAPrice Call: BUYTarget Price: 10.70



July 3, 2014

June 30, 2014

UMCCA - Dividend Surprise

Stock Name: UMCCA
Company Name: UNITED MALACCA BHD
Research House: TAPrice Call: BUYTarget Price: 9.03



June 26, 2014