MISC; Buy; RM4.49
Price target: RM6.20 (prev RM4.80); MISC MK
On course for greater gains
Above expectations on lower container losses. Successful sale of container fleet will alleviate concerns of vessel impairments/losses for this division. Stock at -1SD of 10-year mean; BUY with higher RM6.20 TP.
Multi-Purpose Holdings; Buy; RM3.77
Price target (cum basis): RM4.80 (prev RM4.20); MPU MK
Bumper reward
Subscribe for MPHB Capital; offer price is at 54% discount to fair value of RM2.16. MPHB offers much cheaper exposure to NFO with attractive 5.7% dividend yield, potential to turn net cash sooner. Raised SOP based TP to RM4.80, pegging gaming business to BST’s valuation and imputing MPHB Capital’s fair value.
BIMB Holdings; Hold; RM3.06
Price target: RM2.80 (prev RM2.20); BIMB MK
Dampened by higher overheads
1H12 result beat our estimates due to higher-than expected non-interest income and lower provisions. Raised FY12-14 net profit by 6-7%. Maintain HOLD; TP raised to RM2.80.
Bumi Armada; Fully Valued; RM3.75
Price target: RM3.30 (prev RM3.35); BAB MK
No strong pick-up in earnings
2Q12 result was slightly below our estimate but significantly below consensus’. Cut FY12-14F earnings by 2- 7%. Maintain FULLY VALUED rating with a RM3.30 TP.
CB Industrial Product; Buy; RM2.69
Price target: RM3.00; CBP MK
Lifted by higher project billings
2Q12 net profit was within expectation at RM23.7m. Revenue growth supported by higher project billing from E&C and special purpose vehicles segments. Maintain BUY rating and RM3.00 TP; declared 10 sen interim net DPS.
KNM Group; Hold; RM0.71
Price target: RM0.70; KNMG MK
No earnings surprise
2Q12 result in line with our expectation but below consensus’. Lifted by higher project margins. Maintain HOLD rating with TP of RM0.70.
KPJ Healthcare; Fully Valued; RM6.27
Price target: RM4.80; KPJ MK
2Q12 earnings below street estimates; take profit
2Q12 profit was within our expectation at RM34.8m, but BELOW street estimates. Shrinking growth opportunities. Declared second interim single-tier DPS of 2.5 sen. Maintain FULLY VALUED and RM4.80 TP.
Malaysian Resources Corp; Buy; RM1.74
Price target: RM2.70; MRC MK
Possible reprieve for EDL
2Q12 profit was below expectation; dampened by EDL but property was strong. Catalysts: (i) RRIM, (ii) M&A, and (iii) revival of Penang Sentral development. BUY, SOP-derived TP of RM2.70.
Maybank; Buy; RM8.91
Price target: RM11.10 (prev RM10.60); MAY MK
Positive traction; topline driven
2Q12/1H12 results beat expectations, driven by strong revenues and lower costs. Declared 32sen interim DPS; 28sen is eligible for DRP. Maintain BUY; TP raised to RM11.10.
Notion VTec; Buy*; RM1.25
Price target: RM1.60*; NVB MK *under review
Uncertainty in HDD sales
9MFY12 profit was below expectation, although earnings surged 96% y-o-y. FY12F result should be strong, but expectations of a soft PC market could hurt FY13-14F earnings. Our call, earnings and TP are under review pending the analyst briefing.
Petronas Dagangan; Fully Valued; RM22.96
Price target: RM16.15; PETD MK
Weak 2Q, as expected
2Q12 profit was in line at RM171m. Expect 3Q to be stronger as MOPS prices have rebounded after falling 24% y-o-y in 2Q. Declared 17.5 sen second interim DPS. Maintain FULLY VALUED rating and RM16.15 TP, pegged to 16x FY13F EPS.
Pos Malaysia; Buy; RM2.91
Price target: RM4.60; POSM MK
Courier business remains strong
1QFY13 result within expectation; net profit jumped 71% y-o-y to RM36.8m. Earnings lifted by courier and digital certificates operations. Maintain BUY rating and RM4.60 TP; downside limited by FY14F net yield of 4.2%.
UMW Holdings; Buy*; RM10.15
Price target: RM10.15*; UMWH MK *under review
Revenue surpass RM4bn mark
2Q12 net profit in line at RM224m (+71% y-o-y). Revenue grew to RM4.1bn, led by strong growth at automotive and equipment segments. Toyota and Perodua remain key drivers. Declared 10 sen interim net DPS.
YTL Land; Hold; RM1.02
Price target: RM1.05; YTLL MK
Cruising along
Results within expectation, Capers unbilled sales to provide earnings visibility. Cut 2013-14F earnings by 8- 17% to factor in slower launches. Maintain HOLD & TP of RM1.05.
YTL Power; Hold; RM1.80
Price target: RM1.90 (prev RM1.80); YTLP MK
Lacks near term catalyst
FY12 result within our and market expectations; earnings fell because of higher costs and YES remained lossmaking. Longer term catalysts would be securing a power plant contract in Malaysia and further acquisitions. Maintain HOLD with RM1.90 TP.
Source: HwangDBS Research - 17 August 2012
Chart | Stock Name | Last | Change | Volume |
---|
2024-11-03
KNM2024-11-03
MAYBANK2024-11-03
POS2024-11-03
YTLPOWR2024-11-01
KPJ2024-11-01
KPJ2024-11-01
MAYBANK2024-11-01
MAYBANK2024-11-01
MAYBANK2024-11-01
MAYBANK2024-11-01
MAYBANK2024-11-01
MISC2024-11-01
MISC2024-11-01
MISC2024-11-01
PETDAG2024-11-01
PETDAG2024-11-01
YTLPOWR2024-11-01
YTLPOWR2024-11-01
YTLPOWR2024-10-31
KNM2024-10-31
MAYBANK2024-10-31
YTLPOWR2024-10-31
YTLPOWR2024-10-30
CBIP2024-10-30
CBIP2024-10-30
CBIP2024-10-30
KPJ2024-10-30
KPJ2024-10-30
KPJ2024-10-30
MAYBANK2024-10-30
MAYBANK2024-10-30
MAYBANK2024-10-30
MAYBANK2024-10-30
MISC2024-10-30
MISC2024-10-30
MISC2024-10-30
YTLPOWR2024-10-30
YTLPOWR2024-10-29
KPJ2024-10-29
KPJ2024-10-29
MAYBANK2024-10-29
MAYBANK2024-10-29
MAYBANK2024-10-29
MAYBANK2024-10-29
MISC2024-10-29
MISC2024-10-29
PETDAG2024-10-29
PETDAG2024-10-29
POS2024-10-29
YTLPOWR2024-10-29
YTLPOWR2024-10-28
BIMB2024-10-28
KPJ2024-10-28
KPJ2024-10-28
KPJ2024-10-28
KPJ2024-10-28
KPJ2024-10-28
MAYBANK2024-10-28
MAYBANK2024-10-28
MISC2024-10-28
MISC2024-10-28
PETDAG2024-10-25
BIMB2024-10-25
CBIP2024-10-25
CBIP2024-10-25
CBIP2024-10-25
KPJ2024-10-25
KPJ2024-10-25
KPJ2024-10-25
KPJ2024-10-25
KPJ2024-10-25
MAYBANK2024-10-25
MAYBANK2024-10-25
MAYBANK2024-10-25
MISC2024-10-25
MISC2024-10-25
MRCB2024-10-25
PETDAG2024-10-25
YTLPOWR2024-10-25
YTLPOWR2024-10-25
YTLPOWR2024-10-24
BIMB2024-10-24
BIMB2024-10-24
KPJ2024-10-24
KPJ2024-10-24
KPJ2024-10-24
KPJ2024-10-24
MAYBANK2024-10-24
MAYBANK2024-10-24
MISC2024-10-24
MISC2024-10-24
MRCB2024-10-24
MRCB2024-10-24
PETDAG2024-10-23
BIMB2024-10-23
CBIP2024-10-23
CBIP2024-10-23
CBIP2024-10-23
KPJ2024-10-23
KPJ2024-10-23
KPJ2024-10-23
KPJ2024-10-23
KPJ2024-10-23
MAYBANK2024-10-23
MAYBANK2024-10-23
MAYBANK2024-10-23
MAYBANK2024-10-23
MAYBANK2024-10-23
MAYBANK2024-10-23
MISC2024-10-23
MISC2024-10-23
MISC2024-10-23
PETDAG2024-10-23
PETDAG2024-10-22
BIMB2024-10-22
KPJ2024-10-22
KPJ2024-10-22
KPJ2024-10-22
KPJ2024-10-22
MAYBANK2024-10-22
MAYBANK2024-10-22
MAYBANK2024-10-22
MISC2024-10-22
MISC2024-10-22
PETDAG2024-10-22
YTLPOWRjust like the NKF case! :)
http://en.wikipedia.org/wiki/National_Kidney_Foundation_Singapore_scandal
2012-08-19 13:24
or even SIA.. i like this particular statement : "The discovery of Teo's fraud was later described as 'purely fortuitous' in court. Had he quit while he was ahead, his crime may never have been discovered."
http://www.cad.gov.sg/serv/inv/cad/SIA+Scandal+-+How+SG35+million+was+stolen+over+13+years.htm
Sorry, not to run down on Singapore, but having stayed there for a term taking credit for my Masters, it just dawned on me many notions are perceived and one country is no different from the other! So long as greed and fear exists, problem arises! That is innate in every human nature!
join the list: http://en.wikipedia.org/wiki/List_of_corporate_scandals
2012-08-19 13:31
NavinShah
Nothin can beat AFG BHD. One day AFG will beat all Malaysian bank. If DBS Bank of Singapore takes over. Singapore Management is the best in the world.
2012-08-19 12:11