Stock Name: MELEWAR
Company Name: MELEWAR INDUSTRIAL GROUP BHD
Company Name: MELEWAR INDUSTRIAL GROUP BHD
| Research House: TA | Price Call: SELL | Target Price: 0.59 |
September 2, 2011
OSK Research drops YNH Property from coverage
Stock Name: YNHPROP
Company Name: YNH PROPERTY BHD
KUALA LUMPUR: OSK Research has dropped YNH Property from its coverage with a Not Rated recommendation. It previously had a Buy recommendation on YNH with a fair value of RM3.03.
The research house said on Friday, Sept 2 YNH's 1HFY11 results came in below its and consensus expectations, accounting for around 40.7% and 39.1% of its and consensus FY11 net profit forecasts.
'Year-on-year revenue was down by 34.8% due to lower contribution from CONSTRUCTION [] revenue, but net profit was only 2.1% lower year-on-year owing to better operating margins. Nevertheless, due to resource re-allocation and portfolio reshuffling, we are ceasing our coverage on YNH with a Not Rated recommendation,' it said.
OSK Research said YNH reported a net profit of RM30.1 million for 1HFY11, which was below expectations, as the 1HFY11 net profit only accounted for around 40.7% of its FY11 forecast.
Year-on-year revenue fell 34.8%, driven by significantly lower construction revenue. However, net profit was only down by a far smaller 2.1%, attributed to higher margins as the result of lower construction revenue, which typically commands lower margins.
'EBIT margin for 1HFY11 improved significantly to 43.6% versus 30.4% over the same period last year. Quarter-on-quarter revenue was down by 12.2%, attributed to flat progress billings as well as the absence of sales of shop lot land parcels in Manjung in 1QFY11,' it said.
Company Name: YNH PROPERTY BHD
| Research House: OSK | Price Call: BUY | Target Price: 3.03 |
KUALA LUMPUR: OSK Research has dropped YNH Property from its coverage with a Not Rated recommendation. It previously had a Buy recommendation on YNH with a fair value of RM3.03.
The research house said on Friday, Sept 2 YNH's 1HFY11 results came in below its and consensus expectations, accounting for around 40.7% and 39.1% of its and consensus FY11 net profit forecasts.
'Year-on-year revenue was down by 34.8% due to lower contribution from CONSTRUCTION [] revenue, but net profit was only 2.1% lower year-on-year owing to better operating margins. Nevertheless, due to resource re-allocation and portfolio reshuffling, we are ceasing our coverage on YNH with a Not Rated recommendation,' it said.
OSK Research said YNH reported a net profit of RM30.1 million for 1HFY11, which was below expectations, as the 1HFY11 net profit only accounted for around 40.7% of its FY11 forecast.
Year-on-year revenue fell 34.8%, driven by significantly lower construction revenue. However, net profit was only down by a far smaller 2.1%, attributed to higher margins as the result of lower construction revenue, which typically commands lower margins.
'EBIT margin for 1HFY11 improved significantly to 43.6% versus 30.4% over the same period last year. Quarter-on-quarter revenue was down by 12.2%, attributed to flat progress billings as well as the absence of sales of shop lot land parcels in Manjung in 1QFY11,' it said.
August 29, 2011
1QFY12: A strong quarter
Stock Name: LITRAK
Company Name: LINGKARAN TRANS KOTA HOLDINGS
Company Name: LINGKARAN TRANS KOTA HOLDINGS
| Research House: ECMLIBRA | Price Call: BUY | Target Price: 4.42 |
4QFY11: Within expectations
Stock Name: HLBANK
Company Name: HONG LEONG BANK BHD
Company Name: HONG LEONG BANK BHD
| Research House: ECMLIBRA | Price Call: HOLD | Target Price: 13.62 |
Below expectations
Stock Name: YNHPROP
Company Name: YNH PROPERTY BHD
Company Name: YNH PROPERTY BHD
| Research House: ECMLIBRA | Price Call: HOLD | Target Price: 1.60 |
Cocoaland Holdings Bhd RR 2Q FY11
Stock Name: COCOLND
Company Name: COCOALAND HOLDINGS BHD
Company Name: COCOALAND HOLDINGS BHD
| Research House: WILSON & YORK | Price Call: BUY | Target Price: 2.60 |
PPB Group Bhd RR 2Q FY11
Stock Name: PPB
Company Name: PPB GROUP BHD
Company Name: PPB GROUP BHD
| Research House: WILSON & YORK | Price Call: BUY | Target Price: 20.28 |
1Q/FY12 results. Revenue below expectations. Revise to Hold Call.
Stock Name: DATAPRP
Company Name: DATAPREP HOLDINGS BHD
Company Name: DATAPREP HOLDINGS BHD
| Research House: MERCURY | Price Call: HOLD | Target Price: 0.19 |
4QFY11 results review
Stock Name: MALTON
Company Name: MALTON BHD
Company Name: MALTON BHD
| Research House: NETRESEARCH | Price Call: BUY | Target Price: 1.60 |
2Q11 results review
Stock Name: SINDORA
Company Name: SINDORA BHD
Company Name: SINDORA BHD
| Research House: NETRESEARCH | Price Call: SELL | Target Price: 3.00 |
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