Bursa Malaysia Stock Watch
RHBInvest Research Highlights 17th August 2011
kltrader
Publish date: Wed, 17 Aug 2011, 10:57 AM
kltrader
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17th August 2011
Top Story: Benchmarking ' Fluid status
Market Update
'' The recent equity market turmoil caused significant volatility in share prices, but not enough to affect the make up of the FBM KLCI. While equities recovered slightly since last week's sell down, we believe markets are now on a hair trigger.
Sector Call
Construction: "Package B" LRT line extension work packages go to MRCB and Sunway Overweight
Sector Update
'' Prasarana has awarded three of the four key work packages of the "Package B" LRT Line Extension Project to MRCB comprising: 1) Main Facilities and Segmental Box Girder contracts for the Ampang line worth RM1.33bn; and 2) Segmental Box Girder contract for the Kelana Jaya line worth RM67.2m.
Corporate Highlights
TRC Synergy: Slow LRT billings to weigh down on 2QFY12/11 performance Outperform
Results Preview
'' We expect TRC's 1HFY12/11 net profit to come in at RM10-11m that is below expectations, largely due to the slower-than-expected progress in the RM950m "Package A" main contract of the Kelana Jaya LRT Line extension project, stemming from the delays in obtaining approvals from the local authorities.
Axiata: Expecting a modest 2Q Outperform
Results Preview
'' Axiata's 2Q11 core net profit (results due on 23 Aug) will likely come in moderately higher on a yoy basis, underpinned by unexciting but steady 1H11 performances at XL and Dialog.
Dialog: Marginal field contract finally awarded Outperform
News Update
'' Dialog announced yesterday that it has signed a Risk Service Contract (RSC) with Petronas for the development and production of the Balai Cluster fields which are located offshore Bintulu, Sarawak . Dialog's stake is 32% while the other consortium partners are ROC Oil (48%) and Petronas Carigali (20%).
MRCB: A big winner of "Package B" LRT line extension work packages Trading Buy
News Update
'' MRCB has been awarded by Prasarana three out of four key work packages of the "Package B" LRT Line Extension Project, namely: (1) Main Facilities and Segmental Box Girder contracts for the Ampang line worth RM1.33bn; and (2) Segmental Box Girder contract for the Kelana Jaya line worth RM67.2m.
MAHB: Hiking PSC and aircraft charges Outperform
News Update
'' MAHB has confirmed recent news reports of increasing passenger service charge (PSC). Starting Sept 15, MAHB will raise (PSC for international passengers for both its low-cost carrier terminals (LCCT) and full-service carrier terminals. PSC in LCCTs is expected to increase by RM7 to RM32 while full-service service terminals will be raised by RM14 to RM65.
Parkson: Planning to list its 90.1% owned PRA on SGX Outperform
News Update
'' Following the news on the media with regards to Parkson's 90.1% owned Parkson Retail Asia's (PRA) listing in Singapore , Parkson officially announced the proposal of the listing.
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