Bursa Malaysia Stock Watch

RHBInvest Research Highlights 19th August 2011

kltrader
Publish date: Fri, 19 Aug 2011, 12:18 PM
kltrader
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19th August 2011
 
Top Story: Ta Ann ' 2QFY11 results will be strong                                           Outperform
Results Preview
''       We expect Ta Ann's 2Q11 result to come in strongly at about 33% of our full-year forecast and in line with our projection.
 
Sector Call
 
Construction: MRT Co takes over MRT project from Prasarana                     Overweight
Sector Update
''       The Government has set up a new entity called "MRT Co" to replace Prasarana as the project and asset owner of the Klang Valley MRT project, effective 1 Sep 2011. 
 
Corporate Highlights
 
Axiata: No plans to raise stake in Idea                                                                  Outperform
News Update
''       Axiata has no immediate plans to raise stake in Idea, based on clarification by management today.
''       This puts to rest speculation by The Economic Times of India (ETI) yesterday that Axiata was looking to raise its stake in associate Idea Cellular from 20% to about 25%.
 
Dialog: Proposed fund raising for long-term projects                                          Outperform
News Update
''       Yesterday, Dialog proposed a rights issue on the basis of 2 rights shares + 1 free warrant for every existing 10 shares held to to fund: 1) Balai Cluster risk-service-contract; and 2) Pengerang tank terminal. The exercise is expected to be completed by 1QCY12. We highlight that the company has allowed for a minimum subscription level on the basis of 2 right shares plus 1 free warrant for every existing 14 shares.
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