Malaysian Bulk Carriers; Buy (Reinstate coverage)
Price Target: RM2.10; MBC MK
Catch the bottom
Improving supply-demand dynamics to drive turnaround with timely vessel acquisition. POSH listing an impending catalyst. Reinstate coverage with BUY rating and RM2.10 TP.

Hartalega; Hold
Price Target: RM5.50; HART MK
Stable margins
4Q/FY13 results in line; sales volume inched up 2% q-o-q, stable ASP and operating margins. Capacity expansion at Factory 6 on track, will drive growth. Declared interim 3.5 sen DPS. Maintain HOLD and RM5.50 TP.

Source: HwangDBS Research - 8 May 2013