MISC; Buy; RM6.50
Price target: RM7.60 (Prev RM6.50); MISC:MK
A new wave of optimism

FY13 earnings beat expectations. Lifted by Gumusut sale and rationalisation of petroleum and chemical tanker fleet. Announced 5 sen final DPS, Maintain BUY rating; upgraded TP to RM7.60.

Gas Malaysia; Buy; RM3.62
Price target: RM4.05 (prev RM3.95); GMB:MK
Delivering on earnings

FY13 results within our and market expectations. Rising LNG supply to sustain longer term growth.Near-term upside to be capped by concerns over gas cost, but that presents an opportunity to accumulate the stock. In net cash position with 4% yield; maintain BUY with higher TP of RM4.05.

Dialog Group; Hold; RM3.26
Price target: RM2.90; DLG:MK
Rich Valuation

2QFY14 results met our forecasts, missed consensus’. Strong results driven by robust outlook for Malaysia O&G sector. Maintain
HOLD rating and RM2.90 TP.

Source: HwangDBS Research - 14 Feb 2014