Bursa Malaysia Stock Watch
RHBInvest Research Highlights 30th November 2011 [4 Attachments]
kltrader
Publish date: Wed, 30 Nov 2011, 01:15 PM
kltrader
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30th November 2011
Top Story: MPHB: I am Magnum - Outperform (New Coverage)
Initiation Report
'' With 100%-ownership in Magnum since Jun, gaming is now MPHB's main core business. We estimate that in FY12, gaming will contribute 80-85% of net profit, up from about 60% in FY10. As for its other businesses, namely financial services, stockbroking and property investment and hotels, MPHB is in the process of selling these off, firstly to pare down debt, and secondly to concentrate its attention on gaming.
Corporate Highlights
MAHB: Higher KLIA2 cost due to upgrade - Outperform
Briefing Note
'' According to MAHB, the construction cost of KLIA2 is expected to escalate to RM3.6-3.9bn (initial budget was RM2.5bn) mainly due to upgrades of specifications of the airport.
Parkson: Acquisition Of Building In Tianjin City - Outperform
Top Story: MPHB: I am Magnum - Outperform (New Coverage)
Initiation Report
'' With 100%-ownership in Magnum since Jun, gaming is now MPHB's main core business. We estimate that in FY12, gaming will contribute 80-85% of net profit, up from about 60% in FY10. As for its other businesses, namely financial services, stockbroking and property investment and hotels, MPHB is in the process of selling these off, firstly to pare down debt, and secondly to concentrate its attention on gaming.
Corporate Highlights
MAHB: Higher KLIA2 cost due to upgrade - Outperform
Briefing Note
'' According to MAHB, the construction cost of KLIA2 is expected to escalate to RM3.6-3.9bn (initial budget was RM2.5bn) mainly due to upgrades of specifications of the airport.
Parkson: Acquisition Of Building In Tianjin City - Outperform
Company Update
'' Parkson's 51.6% subsidiary, Parkson Retail Group (PRG) announced that it is the successful bidder in a public tender process to acquire the land use and building ownership rights for the Tianjin Building. The building has five storeys with a total gross floor area of approximately 45k sq m. The purchase price of the building is RMB704.6m (RM351.4m).
'' Parkson's 51.6% subsidiary, Parkson Retail Group (PRG) announced that it is the successful bidder in a public tender process to acquire the land use and building ownership rights for the Tianjin Building. The building has five storeys with a total gross floor area of approximately 45k sq m. The purchase price of the building is RMB704.6m (RM351.4m).
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