Bursa Malaysia Stock Watch

Fw: [RHBInvest-Yahoo!] RHBInvest Research Highlights 21st October 2011

kltrader
Publish date: Fri, 21 Oct 2011, 03:14 PM
kltrader
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21st October 2011
 
Top Story: TNB ' May have hit rock bottom in 4Q                     Underperform
Results Preview
''       Due to gas shortage from maintenance at Petronas' LNG plants and delays in the Bekok C bypass, TNB will likely record a 4Q loss, possibly close to that seen in 3Q (-RM460m). This is a result of TNB receiving only an average of 950 mmscfd of gas in 4Q, marginally higher than the average 940 mmscfd in 3Q.
 
Corporate Highlights
 
BAT: 3QFY11 TIV grew 1.6% yoy                                                  Underperform
3QFY11 Results / Briefing Note
''       BAT's 9MFY11 net profit of RM539m (-1.7% yoy) was above ours but within consensus estimates, accounting for 79% and 75% of full-year forecasts respectively. The main variance to our forecasts were the stronger-than-expected 3QFY11 TIV 3% yoy.
 
TH Plantations: Bumper profit year continues                            Outperform
3QFY11 Results
''       9MFY11 net profit was in line with both our and consensus expectations, coming in at 73-77% of our and consensus FY11 forecasts. 
 
WCT: Acquiring 432-acre land in Serendah for RM38.4m         Market Perform
News Update
''       WCT is acquiring 431.7 acres of freehold agricultural land in Serendah, Selangor, for RM38.4m cash.
 
DRB-Hicom: Three CBU Volkswagen models launched           Market Perform
News Update
''       Volkswagen Malaysia (VWM) yesterday launched three new completely built-up (CBU) fully-imported models into the local market, the culmination of an intensive two-week newspaper advertising campaign. The three models are the Passat 1.8, Jetta 1.4 TSI and Cross Touran 1.4 TSI. The introduction of these new CBU models is a prelude to the launch of DRB-assembled CKD VWs by end-2011.



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