Petronas Chemicals; Hold
Price Target: RM5.90; PCHEM MK
Strong 1Q earnings
Net profit grew 8% y-o-y to RM1105m, on the back of higher revenues (+2% y-o-y). Product prices supported revenues and profit margins. Turnaround and maintenance works could impact earnings. Maintain HOLD with RM5.90 TP.

Eastern & Oriental; Buy
Price Target: RM2.90; EAST MK
Gunning for growth
Results within expectations, KPIs met. 3-years strategy plan to target growth, aggressive landbanking ahead. Maintain Buy & TP of RM2.90 (30% discount to RNAV).

Multi-Purpose Holdings; Buy
Price Target: RM3.95 (Prev RM4.40); MPU MK
Attractive yield play
Strong 1Q13 results with CNY impact and lower prize payout. Transformed into pure gaming play with high dividend payout. Maintain BUY, ex-all SOP-based TP adjusted to RM3.95.

Parkson Holdings; Hold
Price Target: RM4.45 (Prev RM4.65); PKS MK
Dragged by PRG
Weak 3Q13 net profit of RM77m in line. Earnings were hit by China operations weaker margins and SSSG. Maintain HOLD rating; nudged down RNAV-based TP to RM4.45.

Kossan Rubber; Buy
Price Target: RM4.50; KRI MK
Stronger sales lifted margins
1Q13 net profit was within our and consensus expectations. Margins improved driven by stronger sales volume. Expect higher dividend payout going forward. Maintain BUY rating and RM4.50 TP.