Bursa Malaysia Stock Watch
RHBInvest Research Highlights 08th August 2011
kltrader
Publish date: Mon, 08 Aug 2011, 11:31 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.
08th August 2011
Top Story: AirAsia ' 2QFY12/11 results to trail consensus Market Perform
Results Preview
'' We expect 2QFY12/11 results to meet our forecast but trail the market expectations.
'' We expect 2QFY12/11 core PBT to come in at RM90-100m, down 21-29% yoy, on the back of an estimated 33% jump in average jet fuel cost and a 2.8% sequential drop in average passenger revenue, partially offset by an actual 3.6% sequential increase in the number of passengers carried.
Sector Call
Transport : Khazanah to own Tune Air, Tune Air to own MAS? Neutral
Sector Update
'' The Edge Malaysia reported that MAS will rope in Tony Fernandes via Tune Air subscribing a stake in MAS of up to 20%. This is conditional upon Khazanah acquiring from Tony & Co a stake in Tune Air.
'' The deal, if materialises, is positive to AirAsia as: 1) It is done at the shareholder level that means AirAsia's P&L and balance sheet are intact; and 2) Reduced competition with MAS will mean higher yields to AirAsia.
Telecoms: Roaming in Singapore gets cheaper Overweight
SectorUpdate
'' U Mobile is stepping up competition in the Malaysia-Singapore roaming market by enticing travelers with much lower roaming charges priced at local Singapore rates. Based on the rates gathered early this month, U Mobile is pricing its roaming charges at 30-80% for voice and 60% for SMS of the incumbents' pricing.
Corporate Highlights
Fajarbaru : Acquiring 6.8-Acre land in Puchong Kinrara area for RM39.9m Outperform
News Update
- Fajarbaru is acquiring a piece of 6.8-acre freehold agricultural land zoned for residential development between Bandar Kinrara and Bukit Jalil for RM39.9m cash.
- Fajarbaru intends to build residential properties on the land with an estimated GDV of RM300-400m.
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