Public Watchlist: Hong Leong Investment Bank's Top Picks for 2019

The cut in economic targets by the Govt reflects the challenges Malaysia faces as it balances between growth and fiscal prudence against an external backdrop of lower oil price and the US-China trade war. MoF’s 2019 GDP target of 4.9% is a Herculean task and our forecast is lower at 4.6%. Despite a flattish year for earnings in 2018 (-0.1%), growth in 2019 will remain uninspiring at 3.3%, below its post GFC CAGR of 7%. Still, we believe there are key themes to eyeball for 2019: East Malaysia, trade war opportunities, healthcare and Govt asset monetisation. Our KLCI target of 1,750 is based on 15.5x PE (-1SD).

For investment strategy, we favour stock selection as opposed to broader base sector allocation (our only OVERWEIGHT sectors are healthcare and power). Our top picks are Tenaga, RHB, Sunway, TIME, KPJ, BAuto, Edgenta, Taliworks, Frontken and FPI.


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Last updated:   
Stock Name Ref Date Ref Price Price Diff Last Range Open Change Volume Note
TENAGA 19-Dec-2018 12.60 0.00
RHBBANK 19-Dec-2018 5.22 0.00
SUNWAY 19-Dec-2018 1.39 0.00
TIMECOM 19-Dec-2018 8.10 0.00
KPJ 19-Dec-2018 1.03 0.00
BAUTO 19-Dec-2018 2.19 0.00
EDGENTA 19-Dec-2018 2.65 0.00
TALIWRK 19-Dec-2018 0.78 0.00
FRONTKN 19-Dec-2018 0.65 0.00
FPI 19-Dec-2018 1.56 0.00

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