Perisai Petroleum; Buy; RM1.57
Price Target: RM1.80; PPT MK
Smooth sailing

Strong earnings visibility supported by quality production assets and drilling business. Clear growth prospects underpinned by robust O&G activities in Malaysia. Maintain BUY rating and RM1.80 TP.

Zhulian Corp Bhd; Hold; 3.12
Price target: RM2.80 (Prev RM2.80); ZHCB MK
Rising associate contribution

2Q13 net profit was in line at RM37.9m, led by higher associate contribution and lower effective tax rate. EBIT margin weakened to 18.1%, lowest since 2Q10. Declared second interim net dividend of 3 sen/share. Maintain HOLD rating and RM2.80 TP.

Source: HwangDBS Research - 18 Jul 2013