SP Setia; Hold; RM3.37
Price Target: RM3.50; SPSB MK
Strong sales surpasses target

Core results in line, earnings visibility from record unbilled sales. 10M property sales have already surpassed full year  target.Maintain Hold and SOP-based TP of RM3.50.
 

Westports Holdings
Retail Price: RM2.50; WPRTS MK
Initial Public Offering – Main Market

Leading port operator in Port Klang. 75% dividend payout driven by strong and steady earningsgeneration. DDM-derived TP of RM2.75 implies 19.8x FY14P/E. Subscribe for 13% potential total return.

Source: HwangDBS Research - 26 Sep 2013