Bursa Malaysia Stock Watch

RHBInvest Research Highlights 20th September 2011

kltrader
Publish date: Tue, 20 Sep 2011, 10:04 AM
kltrader
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20th September 2011
 
Top Story: Gamuda ' FY07/11 results to meet expectations               Outperform
Results Preview
''       We expect Gamuda's 4QFY07/11 results to come in within expectations at RM105-110m at the core net level, marginally weaker vis-''-vis RM116.6m recorded in 3QFY07/11 on slightly reduced construction margins sequentially as a result of the cycle of writebacks of cost over-provisions having already peaked 1-2 quarters ago.
 
Sector Call
 
Media: Aug adex rose 9.7% yoy                                                                Underweight
Sector Update
''       According to Nielsen Media Research, Aug's gross adex for TV and print media combined rose 9.7% yoy (+2.9% mom), led by the print media (+14.1% yoy).
''       Aug's adex growth was quite strong mainly due to: 1) Hari Raya and Merdeka adex; 2) ad rate hike; and 3) resilient consumer spending.
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