TSH Resources; Buy; RM2.53
Price Target: RM3.00; TSH MK
Strong growth ahead

Impressive 3-year FFB volume CAGR of 18% to drive earnings growth. Solid balance sheet to support aggressive expansion in Indonesia. BUY for 19% upside to RM3.00 DCF-derived TP; TSH is the cheapest and fastest-growing planter in DBSV Malaysia universe.
 

Perisai Petroleum; Buy; RM1.42
Price Target: RM1.55; PPT MK
Looking forward to 2014

3Q13 results were within expectations. Production and drilling business to drive 2-year earnings CAGR of 36% over FY13-15F. Maintain BUY with RM1.55 TP.
 

Wing Tai Malaysia; Buy; RM2.57
Price Target: RM2.90; WING MK
Resilient base earnings to the rescue

Results in line, retail & resilient Penang township sales to support earnings. Le Nouvel on track for launch in early-2014. Maintain Buy & TP of RM2.90 (35% discount to RNAV).

Source: HwangDBS Research - 14 Nov 2013