Bursa Malaysia Stock Watch

RHBInvest Research Highlights 17th October 2011

kltrader
Publish date: Mon, 17 Oct 2011, 02:30 PM
kltrader
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17th October 2011
 
Top Story : Genting Singapore ' Heading towards 50:50 market share         Market Perform
Visit Note ( Singapore )
''       Key highlights from our recent visits to Genting Singapore and Las Vegas Sands: 1) Shift in market share towards the 50:50 mark; 2) MBS has more cautious credit extension policies, but RWS is tightening its policies; but MBS may have slightly more generous direct rebates 3) Debt provisions and collection trends; 4) Not much more expansion allowable for casinos; 5) No news on junket front; 6) USS doing well, high hopes for Marine Life Park; and 7) Dividend coming in FY12.
 
 
Corporate Highlights
 
Hua Yang: Truly affordable                                                                                          Not Rated
Visit Note
''       Strategically positioning itself in the affordable housing segment, we view Hua Yang as the key beneficiary under the Government's My First Home Scheme, which was introduced in Budget 2011. The house price ceiling has recently been raised to RM400k in Budget 2012. This rightly matches the segment that Hua Yang has entrenched itself in the market. > 90% of the company's products are priced below RM400k.
 
MRCB : Lands RM46.5m Kuala Sg Pahang Breakwater Phase 2 project  
Trading Buy
News Update
''       MRCB has secured the Kuala Sg Pahang breakwater Phase 2 project worth RM46.5m.
 
TRC Synergy : Lands RM319m Brunei Airport project                                           Outperform
News Update
''       TRC has secured a RM318.9m contract for "modernisation of Brunei International Airport Terminal". 
 
YTL Power : Talks of privatisation                                                                              Market Perform
NewsUpdate                                                                                                                                                                     
''       The Edge weekly newspaper reported that YTL Corp subsidiaries, 51.7%-owned YTL Power and 57.9%-owned YTL Land , may be targets for privatisation or share swap exercises to realign the group.
 
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