Bursa Malaysia Stock Watch
RHBInvest Research Highlights 18th October 2011
kltrader
Publish date: Tue, 18 Oct 2011, 09:31 AM
kltrader
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18th October 2011
Top Story: BAT ' Favourable near-term outlook, long-term remains smoky Underperform
Visit Note
'' British American Tobacco (BAT) is expected to release its 3QFY11 results on 20 Oct. We believe 9MFY11 earnings would be in line with our estimates and come in at RM890-900m, which would account for 76-77% of our full-year forecasts.
Corporate Highlights
Public Bank: Still steady Outperform
3QFY11 Results
'' Public Bank's 3Q11 results were within our and consensus expectations.
Axis REIT: No surprises Market Perform
3QFY11 Results
'' Realised net profit of RM16.2m (+29% yoy; +2.2% qoq) came within our and consensus expectations. Revenue grew 3.1% qoq and 30.6% yoy mainly due to the full quarter contribution from Axis Eureka which was acquired in Apr, as well as the contributions from other assets acquired since 2HFY10 such as the PTP D8. Although sequential net margins contracted slightly due to higher expenses incurred during the quarter, the strong revenue contributions in 3Q led to an overall growth in net profit. A 4.3 sen DPU was declared for 3Q11, bringing the total 9MFY11 DPU to 13.0 sen, on track to meet our FY11 DPU forecast.
Century Logistics: Acquires an oil tanker Market Perform
News Update
'' Century Logistics announced that its 51%-owned Century Onsys is acquiring a 7,119 Dead Weight Tonnes (DWT) oil products tanker for US$4.8m (RM14.8m) cash.
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