Bursa Malaysia Stock Watch

RHBInvest Research Highlights 02nd September 2011

kltrader
Publish date: Fri, 02 Sep 2011, 10:28 AM
kltrader
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02nd September 2011
 
Top Story: Earnings Review ' Stumbling growth and global risk aversion
Strategy Update
''       2Q results continued to surprise on the downside despite our recent downward revision in earnings to take into account a slower-than-expected global economic recovery.  Of the 115 companies that we cover, 62 of the results (53.1% of the total) were within our expectations, 38 below projections (33.0% of the total) and 15 above forecasts (13.1% of the total).
 
Sector Call
 
Banks: 2QCY11 report card ' Another quarter of record profits but growth slowing              Neutral
Sector Update
''       Generally, there were no major earnings surprises in the recent 2QCY11 reporting season.
 
Telecom: Mega school internet project                 Overweight
Sector Update
''       Six companies (Maxis, Celcom, YTL Comms, Jaring, Multimedia Synergy Corp and a joint TM-Time dotCom bid) have been reportedly shortlisted for the RM1.5bn 5-year contract to provide Internet access and a virtual learning module (VLM) platform for the 9,924 schools in the country.
 

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