Bursa Malaysia Stock Watch
[RHBInvest-Yahoo!] RHBInvest Research Highlights 03rd August 2011
kltrader
Publish date: Wed, 03 Aug 2011, 12:28 PM
kltrader
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This blog provides consolidated Bursa Malaysia stock market research, analysis, news and blogs from various sources. You can search and find all the past analysis and coverage on stocks and news by searching within this site. While this blog re-publishes contents from other sites, it does not own the rights nor responsible for the accuracy of the contents. If you disagree to your content from being published here, please add a comment, and your article will be removed from this site.
03rd August 2011
Top Story: AEON ' Bandar Utama issue resolved, new store expected by end FY11 Underperform
Visit Note
'' AEON has resolved its dispute with Bandar Utama City (BUC) pertaining to the renewal of its lease in 1 Utama Shopping Centre, as both AEON and BUC entered into a Tenancy Agreement to enable AEON to operate its department store and super market in 1 Utama Shopping Centre.
Sector Call
Timber: Temporary build-up in plywood inventory in Japan Overweight
Sector Update
'' According to the latest Japan Lumber Report, there has been a build-up of imported plywood inventory in Japan (mainly in thick panel) due to the arrivals of orders placed after the March earthquake disaster. As a result, prices for CP and SP reported by timber companies have weakened recently from its peak of US $620/m3 in May/June to about US$540-560/m3 by July/August.
Semiconductor: No signs of a turning point yet Neutral
Unisem: Fair value RM1.76 Market Perform
Notion: Fair value RM2.10 Market Perform
JCY: Fair value RM0.53 Underperform
MPI: Fair value RM4.18 Underperform
'' Jun 11 chips sales of US$24.7bn posted the first drop on yoy basis by -0.5% after chalking yoy growth since the Oct 09 when it dropped 2.4%. The weaker chip sales suggests that chip demand in certain segments remains weaker than expected but could not be fully offset by strong demand for mobile devices as well as corporate IT spending. On mom basis, chips sales fell by 1.4% after gaining 1.8% in May.
Corporate Highlights
Sapuracrest: Wins Gorgon Project In Australia ? Outperform
News Update
'' The Edge Daily reported today that Sapuracrest's flagship vessel Sapura3000 has won jobs worth up to US$260 (RM780m) for the Gorgon natural gas project offshore Western Australia . The win is approximately 60% of the US$440m (RM1.32bn) contract that was awarded to Subsea 7 by Chevron (previously known as Acergy SA before the merger with Subsea 7).
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