Bursa Malaysia Stock Watch

RHBInvest Research Highlights 14th February 2012

kltrader
Publish date: Tue, 14 Feb 2012, 10:49 AM
kltrader
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14th February 2012
 
Malaysia Equities
Top Story
Maybank ' Expecting A Weaker Quarter, But All In The Price                                        Outperform
Results Preview
-          Maybank will be announcing its 2QFP12/11 results (for the 6 months financial period to Dec 2011 as the FYE was changed from Jun to Dec) results sometime during the week beginning 20 Feb. Our net profit forecast of RM2.56bn (+19.1% yoy) for the 6-month period implies that 2Q net profit would be down marginally qoq (-0.7% qoq) but up by around 13.5% yoy.
-          Fair value of RM9.47 and Outperform call maintained.
 
Corporate Highlights
HSL ' Lands RM82.2m Road Project In Sarawak Target                                                 Outperform
News Update (published 13 Feb 2012)
-          HSL has secured a RM82.2m subcontract for the construction of a new road linking Balingian to Jalan Persekutuan in Sibu/Bintulu, Sarawak .
-          Forecasts maintained as we have already assumed HSL to secure RM600m worth of new jobs in FY12. We are putting fair value of RM1.59 under review with an upward bias. Maintain Outperform.
 
Hektar REIT ' Achieves A Record DPU of 10.5 sen for FY11                                          Outperform
Results Note
-          Hektar's 4QFY11 realised net profit (-3.6% yoy; +3.5% qoq) came within our and consensus estimates. Gross revenue grew 0.9% yoy and qoq due to the marginal improvement in rental contribution from its assets as well as an increase in car park income.
-          No changes to our earnings forecasts. Maintain Outperform with fair value of RM1.61.
 

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