Dialog; Hold; RM2.88
Price Target: RM3.20; DLG MK
Growth priced in

Pengerang phase 1 to more than double capacity by 1QCY14. Upstream projects may not yield results in the near-term, capping earnings upside. Downgrade to HOLD as counter lacks catalysts; TP intact at RM3.20.

Astro Malaysia Holdings; Buy; RM3.03
Price Target: RM3.35; ASTRO MK
Still going strong

1QFY14F earnings in line; lower margins mitigated by strong revenue growth. 2sen interim DPS declared – above our expectations. IPTV competition still minimal; look forward to ARPU upside from conversion of legacy hardware to B.yond STBs. Maintain BUY with RM3.35 DCF-based TP.

Source: HwangDBS Research - 13 Jun 2013