Bursa Malaysia Stock Watch
RHBInvest Research Highlights 21st November 2011
kltrader
Publish date: Mon, 21 Nov 2011, 10:26 AM
kltrader
0 20,638
This blog provides consolidated Bursa Malaysia stock market research, analysis, news and blogs from various sources. You can search and find all the past analysis and coverage on stocks and news by searching within this site. While this blog re-publishes contents from other sites, it does not own the rights nor responsible for the accuracy of the contents. If you disagree to your content from being published here, please add a comment, and your article will be removed from this site.
21st November 2011
Top Story: WCT ' Still hopeful on RM2bn contract wins in FY12/11 Market Perform
Briefing Note
'' WCT is still not giving up hope on meeting its guidance of RM2bn worth of new contracts to be secured in FY12/11, despite having only bagged RM187m YTD.
Macro View
GDP: Real GDP bounced back strongly to +5.8% yoy in the 3Q, but outlook darkens
Economic Highlights (published 18 Nov)
'' Real GDP growth bounced back strongly to expand by 5.8% yoy in the 3Q, from +4.0% in the 2Q. This was boosted partly by significantly higher-than-expected public consumption and as industrial activities normalised after Japan 's earthquake disruption to supply chain receded. This was aided by an improvement in crude oil production, after a hiccup in the production of a major oil field was resolved in May. A pick-up in consumer spending also helped, while real export growth inched up moderately during the quarter.
Sector Call
Banks: Further measures to promote responsible financing practices Underweight
Sector update
Maybank: Fair value at RM6.98 Underperform
CIMB: Fair value at RM5.63 Underperform
Public Bank: Fair value at RM12.54 Outperform
HL Bank: Fair value at RM9.70 Market Perform
AMMB: Fair value at RM4.40 Underperform
AFG: Fair value at RM2.83 Underperform
Affin: Fair value at RM2.05 Underperform
MBSB: Fair value and call downgraded to RM1.62 Market Perform (down from OP)
RCE: Fair value at RM0.50 Market Perform
Property: Riding through the storm Underweight
Sector Update
'' As expected, further regulations are imposed on household financing that will have an impact on the property sector.
Corporate Highlights
Parkson: PRG 3QCY12/11 results in line with expectations Outperform
Company Update
'' 51.6% subsidiary, Parkson Retail Group (PRG)'s 9MCY12/11 core net profit of RMB842.1m (+14.8% yoy) was within expectations, accounting for 68% of our and consensus earnings forecasts, respectively. We consider this to be within expectations as the 4QCY12 is seasonally strongest for PRG, usually accounting for ~30% of full-year earnings due to the festive seasons and holidays.
MMHE: Saved by provision reversals Underperform
Briefing Note
'' Revenue was down due to: 1) change in recognition of the Turkmenistan Block 1 Phase 1 project to equity accounting (vs. consolidation previously) after the project was novated to the MMHE-TPGM JV; and 2) drop in work in both E&C and Marine Repair/Conversion divisions. Order book stands at RM3.7bn and tender book is RM4-5bn.
Related Stocks
| Chart | Stock Name | Last | Change | Volume |
|---|
Market Buzz
2024-11-20
AFFIN2024-11-20
MAYBANK2024-11-20
WCT2024-11-19
AFFIN2024-11-19
AMBANK2024-11-19
AMBANK2024-11-19
AMBANK2024-11-19
CIMB2024-11-19
CIMB2024-11-19
CIMB2024-11-19
CIMB2024-11-19
CIMB2024-11-19
CIMB2024-11-19
HLBANK2024-11-19
MAYBANK2024-11-19
MAYBANK2024-11-19
MAYBANK2024-11-19
MAYBANK2024-11-19
MAYBANK2024-11-19
MBSB2024-11-19
MBSB2024-11-19
PARKSON2024-11-19
PBBANK2024-11-19
PBBANK2024-11-19
PBBANK2024-11-18
ABMB2024-11-18
AMBANK2024-11-18
AMBANK2024-11-18
CIMB2024-11-18
CIMB2024-11-18
CIMB2024-11-18
HLBANK2024-11-18
HLBANK2024-11-18
MAYBANK2024-11-18
MAYBANK2024-11-18
MAYBANK2024-11-18
MAYBANK2024-11-18
MBSB2024-11-18
PBBANK2024-11-18
PBBANK2024-11-18
PBBANK2024-11-15
ABMB2024-11-15
ABMB2024-11-15
AMBANK2024-11-15
CIMB2024-11-15
CIMB2024-11-15
CIMB2024-11-15
CIMB2024-11-15
CIMB2024-11-15
MAYBANK2024-11-15
MAYBANK2024-11-15
MAYBANK2024-11-15
MAYBANK2024-11-15
PBBANK2024-11-15
PBBANK2024-11-14
ABMB2024-11-14
ABMB2024-11-14
AMBANK2024-11-14
MAYBANK2024-11-14
MAYBANK2024-11-14
MHB2024-11-14
MHB2024-11-14
MHB2024-11-14
MHB2024-11-14
MHB
2024-11-14
MHB2024-11-14
MHB2024-11-14
PBBANK2024-11-13
AMBANK2024-11-13
AMBANK2024-11-13
CIMB2024-11-13
CIMB2024-11-13
CIMB2024-11-13
CIMB2024-11-13
CIMB2024-11-13
HLBANK2024-11-13
MAYBANK2024-11-13
MAYBANK2024-11-13
MAYBANK2024-11-13
MAYBANK2024-11-13
MAYBANK2024-11-13
MAYBANK2024-11-13
MAYBANK2024-11-13
MAYBANK2024-11-13
PBBANK2024-11-12
ABMB2024-11-12
AMBANK2024-11-12
AMBANK2024-11-12
CIMB2024-11-12
CIMB2024-11-12
CIMB2024-11-12
HLBANK2024-11-12
MAYBANK2024-11-12
MAYBANK2024-11-12
MAYBANK2024-11-12
PBBANK2024-11-12
RCECAP2024-11-11
ABMB2024-11-11
ABMB2024-11-11
ABMB2024-11-11
ABMB2024-11-11
ABMB2024-11-11
AMBANK2024-11-11
AMBANK2024-11-11
AMBANK2024-11-11
CIMB2024-11-11
CIMB2024-11-11
CIMB2024-11-11
HLBANK2024-11-11
HLBANK2024-11-11
MAYBANK2024-11-11
MAYBANK2024-11-11
MBSB2024-11-11
PBBANK2024-11-11
PBBANK2024-11-11
PBBANKMore articles on Bursa Malaysia Stock Watch
Tambun Indah - The 2nd Penang Bridge To Narrow Property Price Gap
Created by kltrader | Oct 11, 2012
Plantation ' Share Prices Not Reflecting CPO Price Movement ' Is A Correction Coming? (Neutral)
Created by kltrader | Oct 11, 2012
Discussions
Be the first to like this. Showing 0 of 0 comments
Post a Comment
Featured Posts
Latest Videos
Apps
Top Articles
1
2
BFM Podcast
3
BFM Podcast
5
BFM Podcast
6
BFM Podcast
7
BFM Podcast
8
Good Articles to Share
China’s chip advances stall as US curbs hit Huawei AI product
#
Stock
Score
Daily Stocks
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
Featured Advertisers / Partners
Ride The Bull Short The Bear
CS Tan
4.9 / 5.0
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
