Genting Singapore; Hold; S$1.35
TP: S$1.42; GENS SP
Dark clouds looming ahead

2Q13 results in line, but growth outlook is weak. Potential new ventures in Asia (ex-Japan) in 6-12 months. Maintain HOLD, S$1.42 TP.

Hartalega Holdings Bhd; Hold; RM6.80
TP: RM6.60; HART MK
Strong fundamentals priced in

Share price has reached our TP, downgrade to HOLD; our RM6.60 TP (18x CY14 EPS) is intact. 1QFY14 net profit of RM63m was in line with our and consensus estimates; margin was stable. Expect moderate earnings growth in FY14, before picking up in FY15.

Maxis Bhd; Fully Valued; RM7.15
TP: RM5.65; MAXIS MK
Driven by data and leaner ops

1H13 in line within estimates; Mobile internet and lower S&M expenses improved earnings. Data growth driven by higher smartphone penetration but Home Fibre is still lagging. Market dynamics unchanged – prepaid competition raging from MVNOs. Maintain FULLY VALUED with RM5.65 TP

Sunway REIT; Buy; RM1.33
TP: RM1.65; SREIT MK
Buy for long-term growth

FY13 earnings in line; 2.02sen DPU declared - 100%payout. Higher NPI margin and lower finance costs improved earnings. Short-term pain from Sunway Putra Place refurbishments. Maintain BUY with lower RM1.65 TP.

Source: HwangDBS Research - 7 Aug 2013