October 31, 2012

October 30, 2012

Terminating vinyl business – RM560m provision charge

Stock Name: PCHEM
Company Name: PETRONAS CHEMICALS GROUP BHD
Research House: MIDFPrice Call: HOLDTarget Price: 6.68



Marked by lower global trade

Stock Name: NCB
Company Name: NCB HOLDINGS BHD
Research House: MIDFPrice Call: HOLDTarget Price: 4.17



Slower growth in Indonesia, as Niaga plans to up the ante

Stock Name: CIMB
Company Name: CIMB GROUP HOLDINGS BERHAD
Research House: MIDFPrice Call: HOLDTarget Price: 8.20



Synergistic Acquisition

Stock Name: SCIENTX
Company Name: SCIENTEX BERHAD
Research House: TAPrice Call: BUYTarget Price: 3.57



'Overweight' call on Perdana Petroleum

Stock Name: PERDANA
Company Name: PERDANA PETROLEUM BERHAD
Research House: HLGPrice Call: BUYTarget Price: 1.50



Hong Leong Investment Bank has initiated coverage of Perdana Petroleum starting the offshore marine services firm with an "overweight" call.

The bank said the firm will benefit from a pick-up in the global and domestic off-shore oil and gas sector.

"We are projecting a drastic swing from a core earnings loss of RM28 million (in 2011) to a core earnings profit of RM24 million and RM49 million in 2012 and 2013 respectively," it said.

The bank set a target price of RM1.50 per share.

At 9.50am, Perdana Petroleum was trading up 3.0 percent at RM1.03 per share while the benchmark composite index was up 0.23 percent at 1,676.47 points. -- Reuters

October 29, 2012