Actually TDM indirectly benefit from war.

As crude oil price goes up, CPO price will follow because it can be converted into biodiesel

Healthcare business not affected since Middle East is too far away.

The stock is trading at Moving Average 20 support of 28 sen. This is a good entry level.

Historically, share price rebounded every time it drop to Moving Average 20 on the following date:
i) 16-Feb-2024
ii) 27-Feb-2024
iii) 21-March-2024
iv) 3-April-2024

Support: 1.13 to 1.15 (all time lowest on 19-6-2022 and 10-7-2022)

Resistance 1: 1.35
Resistance 2: 1.44

Warren Buffett: Be fearful when others are greedy, and greedy when others are fearful.

While the court decision is negative to share price, the recent pullback by 20% has made CTOS price attractive due to these reasons:

1. CTOS still can appeal (and they have filed to Court Of Appeal)
2. Current share price is near IPO price of RM1.10
3. Compare the market cap loss of RM500m-RM600m today to the amount paid of RM0.25m due to the court case. 0.25/500 = 0.05% !

UEM Sunrise (UEMS MK, BUY, TP: MYR1.60)
Proxy For Johor’s Multi-Year Growth Story; BUY

Maintain BUY, with new TP of MYR1.60 from MYR1.18, 50% upside. The strong response for the submission of Kuala Lumpur-Singapore High Speed Rail (HSR) proposals could indicate that various funding proposals are being offered for the government’s consideration, and as such, cost competitiveness will be the key determinant. If the Light Rail Transit (LRT) and HSR projects proceed, the growth in human traffic and population should gradually transform Iskandar Malaysia into another important metropolis. UEM Sunrise is the best proxy for this multi-year growth story.

https://research.rhbtradesmart.com/files_preview?hash=875c0e9e-a346-4162-9406-e59d57431bd0

This is called scarcity effect.

Tell me which shares to buy in Malaysia for AI and Data Center theme?
Only YTLPower and YTL are the closest with substantial market cap for foreigners and local fund manager to invest in.

Ang Moh invest in US Dollar, below US Dollar 1 billion don't talk...

Short YTLP = Short AI theme and Data Center theme. That's playing with fire...

There is scarcity effect on which shares to buy in Malaysia for AI and Data Center theme.

Only YTLPower and YTL are the closest with substantial market cap for foreigners and local fund manager to invest in.

Maintain sector OVERWEIGHT. We are upbeat on the initiatives outlined
in the MoU signed between the Malaysia and Singapore governments on
the Johor-Singapore Special Economic Zone (JS-SEZ). Although its
specific location was not mentioned as expected, the MoU highlighted how
both governments will cooperate and jointly develop the JS-SEZ, and efforts
include expediting approvals and the clearance of people and cargo at land
checkpoints. UEM Sunrise (an Iskandar play), Sunway, IOI Properties and
AME Elite Consortium should benefit from the strong growth in Johor.

UEMS Target Price is RM1.18

From RHB

AVALAND 20%
IWCITY 20%
FFB 20%
BJFOOD 20%
PWROOT 10%
GCB 10%

https://www.sinchew.com.my/news/20231226/finance/5222643

With RTS being built, Singaporeans buy Johor units as property gets pricier in home country

https://malaysia.news.yahoo.com/rts-being-built-singaporeans-buy-035627056.html

From Maybank Research:

Kossan Rubber Industries (KRI MK)
Diversified income to buffer
during crises
Solid and resilient; U/G to tactical BUY
Unlike other pure glove makers, Kossan is blessed with diversified income
(glove & technical rubber products) and a strong balance sheet, providing
a buffer against any negative impact from a gloves sector downturn. We
raise our earnings forecasts by +45% to +138%. Our new TP is MYR2.12
(+53sen) on a higher CY25E PBV of 1.3x (2021-2023 mean; from 1.0x) with
the re-rating to reflect an improved earnings outlook. U/G to tactical BUY.

PBA Fair Value based on 3 scenarios:
BEAR: Fair Value (FV) = RM1.75
Neutral: FV = RM2.80
BULL: FV = RM3.50

FY23 = RM92m or EPS = 27.8 sen
FY24 = RM115m or EPS = 34.7 sen
FY25 = RM118m or EPS = 35.6 sen

Now already November 2023, so FY24 EPS is more relevant.

FY24 EPS = 34.7 sen

Scenarios:

1. Bearish Scenario (Recession coming, electronics company all leaving Penang)
I will use 5x PE which is usually used for distressed economy or company.
5 times 34.7 sen = 173.5 sen (RM1.75 for easy reference)

2. Base Case Scenario (Malaysia GDP still grow 3%-5%, no recession, electronics/industries company still expand and use more water every year)
I will use 8x PE which is usually used for normal time, no recession.
8 times 34.7 sen = 277.6 sen (RM2.80 for easy reference)

3. Bullish Case Scenario (Malaysia GDP still grow 5%-6%, US achieved soft landing, Penang electronics/industries company expand a lot and use much more water every year)
I will use 10x PE which is usually used for good time. It is not excessive when market is bullish.
10 times 34.7 sen = 347 sen (RM3.50 for easy reference)

I am using his model and divide the earnings forecast with number of shares to get EPS.

Source:

https://docs.google.com/spreadsheets/d/10aTv66LpAPTC8BtezQ8kgBai_YqkYaV8/edit?usp=drive_link&ouid=115125308278906410638&rtpof=true&sd=true

MIDF raise YTLPower Target Price to RM2.99

YTL Power International Berhad | 1QFY24 Results Review (Above)

Maintain BUY

Revised Target Price: RM2.99 (Previously RM2.45)

1QFY24 result outperformed expectations
Power Seraya key driver of group’s +389%yoy 1QFY24 earnings growth
FY24F/25F net profit raised +50%/+53%
Re-affirm BUY at higher TP of RM2.99

https://www.midf.com.my/sites/corporate/files/2023-11/ytlp-1q24-electrifying_momentum-midf-241123.pdf

MIDF Upgrade YTL to BUY

YTL Corporation Berhad | 1QFY24 Results Review (Above)

Upgrade to BUY (Previously NEUTRAL)

Revised Target Price: RM1.78 (Previously RM1.39)

1QFY24 result outperformed expectations
Strong +495%yoy PBT growth driven by the utilities and cement divisions
FY24F/25F net profit revised up +49%/+48%
Upgrade to BUY at higher TP of RM1.78

https://www.midf.com.my/sites/corporate/files/2023-11/ytl-1qy24-a_strong_start-midf-241123.pdf

PBA undervalued by 70%?
https://bit.ly/3MSTCJf

First Interim Dividend - RM 0.0175, the Ex Date on 07-Dec-2023.

Water related stocks is rallying - The Edge

https://www.msn.com/en-my/money/topstories/changes-in-major-shareholders-tariff-hike-expectation-prompt-rally-in-water-related-stocks/ar-AA1jEutl

Loss making company also can be top gainer ?

Sunway Group’s Jeffrey Cheah named honorary Knight Commander of the Most Excellent Order of the British Empire

KUALA LUMPUR (Oct 30): Sunway Group founder and chairman Tan Sri Dr Jeffery Cheah has been named as an honorary Knight Commander of the Most Excellent Order of the British Empire by His Majesty King Charles III of the UK, in honour of his services to higher education, health services and philanthrophy, a press release issued by the British High Commission of Kuala Lumpur on Monday said.

The honorary award is also in recognition of the instrumental role Cheah played in forging high-level partnerships with a number of UK institutions — University of Cambridge, University of Oxford, Lancaster University, the Royal College of Physicians, the UK government's Chevening Awards flagship scholarship programme, the Association of Chartered Certified Accountants (ACCA) and the Institute of Chartered Accountants in England and Wales (ICAEW) — and contributing towards the bilateral relationship between the UK and Malaysia, the statement added.

https://theedgemalaysia.com/node/688147

RM64m on a per share basis only 1.28 sen. Share price already drop 20 sen from peak so that means overreact.

Sunway Bhd (CGS-CIMB Target Price RM2.57; Buy)

Controversial land deal aborted

Sunway’s 559-acre BKIP2 land deal has been aborted, the Edge reported
today. While land price was attractive, it removes a key overhang, in our
view.

We think Sunway will be able to recover the majority of the RM64m initial
payment. Reiterate Add and TP of RM2.57 (10% discount to SOP).

Reiterate Add and TP RM2.57

We reiterate our Add rating and TP of RM2.57 based on a 10% discount to SOP. We
like Sunway as a diversified investment proxy for a robust domestic economy and
growing exposure to healthcare.

Key downside risks: a slowing economy and rising raw material costs which may have
a negative impact on margins.

Source: CGS-CIMB

CGS-CIMB report on Utilities sector:

TENAGA target price: RM12.00
YTLPOWER target price: RM2.40

Overall, we view the measures announced under 2024 Budget positively for the Malaysian

Utilities space as it emphasises the government's commitment to achieving the goals set
out in the NETR, a key driver of growth for the sector. We expect these announcements to
serve as a stepping stone for additional initiatives to be unveiled in the coming months,
including the setting up of an energy exchange and a single market aggregator. Our sector
top picks are Tenaga (a key beneficiary of NETR) and Malakoff (a sector laggard) while we
also like YTL Power for its unique green energy data centre in Johor and new prospects in
bioenergy.

Source: CGS-CIMB

CGS-CIMB report on Utilities sector:

YTLPOWER target price: RM2.40

Overall, we view the measures announced under 2024 Budget positively for the Malaysian

Utilities space as it emphasises the government's commitment to achieving the goals set
out in the NETR, a key driver of growth for the sector. We expect these announcements to
serve as a stepping stone for additional initiatives to be unveiled in the coming months,
including the setting up of an energy exchange and a single market aggregator. Our sector
top picks are Tenaga (a key beneficiary of NETR) and Malakoff (a sector laggard) while we
also like YTL Power for its unique green energy data centre in Johor and new prospects in
bioenergy.

Source: CGS-CIMB

RHB upgrade UEMS target price to RM1.18

Easing MM2H Guidelines To Spur Foreign Interest

Maintain BUY, new TP of MYR1.18 from MYR0.92, 42% upside. UEM
Sunrise is the best proxy for a thematic play on Johor. The momentum on
the influx of foreign direct investments, tourist spending, and property sales
remains strong. Meanwhile, the Government’s commitment to ease
Malaysia My Second Home (MM2H) requirements is expected to spur
foreigners’ buying interest on properties in Iskandar Malaysia. Also,
investors should watch out for the news flow on the upcoming meeting
between the leaders of Malaysia and Singapore in end-October.
 Review of MM2H requirements could be another boost. Iskandar
Malaysia, a major market for foreign property purchasers, is poised to
benefit as the Government announced that existing MM2H requirements
will be relaxed, in its Budget 2024 announcement last week. Furthermore,
visibility of the upcoming infrastructure developments, ie the Rapid Transit
System, could further boost foreign interest on the Iskandar Malaysia
property market, especially in the city centre.
 Further catalytic developments may be concentrated on the Tuas Link
areas. During our recent meeting with Johor State Executive Council
member on investment, trade and consumer affairs Lee Ting Han, we
learned that the Johor-Singapore special economic zone may involve a few
specific sectors. Together with the special financial zone in Forest City, the
Malaysia-Singapore Second Link areas will be the key focus of future
developments, as major infrastructure and amenities such as Port of
Tanjung Pelepas – the 15th busiest port in the world – the Second Link
expressway, schools and hospitals are readily available. The massive land
resources would allow flexibility in long-term development planning.
 Influx of investments and strong SGD-driven spending to spur
demand. The cost factor is said to be the major driver of industrial
investments from Singapore. Johor is now seeing increasing interest from
MNCs, and some players are also exploring opportunities in developing
renewable energy – given the rising requirements from foreign players to
be ESG-compliant. Considering the locations of major industrial parks in
Johor, we think UEM Sunrise would stand to benefit – given its vast
landbank in Gerbang Nusajaya, and as new investments and strong SGDdriven spending should translate to higher demand for housing and
commercial properties over time.
 Our TP is now based on a 45% discount to RNAV (from 55%). In line
with our expectation of a new property upcycle, and given the additional
catalysts for developers that have exposure to the Iskandar Malaysia
property market, we expect the sector to undergo a further rerating, bringing
valuations closer to levels in between +1SD and the mean – equivalent to
that recorded in 2015-2018. We note that sector aggregate property sales
are now higher than the levels seen in those years.

Source: RHB

Someone told me RHB gives target price of 80 sen for Mestron with 55% upside.
Anyone can confirm that ?

Strong dividend yield about 6%

Kenanga TP RM1.50, details below...

We reiterate our OVERWEIGHT call for the healthcare sector. We expect patient throughput and revenue intensity in private hospitals in both the domestic and international markets to end the year on a high note, driven by a seemingly higher propensity of the population to seek treatment for medical issues post the pandemic. Similarly, we see robust sales of pharmaceuticals and over-the-counter (OTC) drugs backed by increased health awareness. Meanwhile, there is growing adoption of immunotherapy as a cancer treatment method. Over the longer term, the prospects of private healthcare will continue to be underpinned by rising affluence and an aging population. Our top picks are KPJ (OP; TP: RM1.50) and KOTRA (OP; TP: RM7.00).

...

Similarly, KPJ is on track to meet our FY23F patient throughput growth projection of 14% (vs. 12% in FY22) and BOR of 70% (vs. 58% in 2022), driven by the recovery in demand for elective surgeries. Thanks to high patient throughput, two of its new hospitals have turned EBITDA-positive while the other two only recorded small operating losses.

We like KPJ for its pricing power as a private healthcare provider and its strong market position locally with the largest network of 28 private hospitals (vs. 16 of the next largest player IHH). We expect the stock to be re-rated following: (i) the divestment of its loss-making Indonesian operations, and (ii) its newer hospitals turning EBITDA positive post gestation period.

For the remainder of FY2023, the Group continues to be dedicated to redefining the healthcare ecosystem. “KPJ Healthcare remains committed to advancing our hospitals to capture the growing volume of activities in the latter half of the year by further increasing our beds, recruiting more consultants and expanding our range of services. Against the backdrop of a robust healthcare sector, we steadfastly uphold our purpose - ‘Care for Life’,” affirmed Norhaizam.

“The general outlook for healthcare service providers is optimistic, driven by our continued dedication and commitment to be your preferred healthcare provider,” Norhaizam concluded.

Source: https://kpjhealth.com.my/news/kpj-healthcare-sustains-strong-momentum-records-impressive-financial-results-for-q2-fy2023

China Developers Drop Most in 9 Months on Evergrande Woes

https://www.bloomberg.com/news/articles/2023-09-25/china-developers-slump-most-since-december-as-evergrande-weighs

Loss making company until the last quarter

Johor Sultan grants audience to PM at Istana Bukit Pelangi

https://theedgemalaysia.com/node/681073

UEM Sunrise is on of RHB Top Picks with TP of 92 sen

https://theedgemalaysia.com/node/681104

Sime Darby Property raises FY23 sales target to RM2.7bil on growing optimism

https://www.thestar.com.my/business/business-news/2023/08/28/sime-darby-property-raises-fy23-sales-target-to-rm27bil-on-growing-optimism
KUALA LUMPUR: Sime Darby Property Bhd has revised higher its sales target to RM2.7bil from RM2.3bil previously as it grows confident the strong momentum in 1H23 will continue over the course of the year.

In the first half of the year, the property developers said it recorded sales of RM1.5bil, which represents 65% of its original sales target.

UEM Sunrise (UEMS MK, BUY, TP: MYR0.92)
The Minh And Connaught One To Drive 2H Sales

Results Review
BUY, new TP of MYR0.92 from MYR0.70, 48% upside. UEM Sunrise’s 1H23 net profit is in line. Its 1H23 property sales of MYR1.49bn has already met management’s target for the year, and we expect the company to book MYR1.9-2bn in sales by year-end. Meanwhile, sentiment on the Iskandar Malaysia property market remains upbeat, given the positive news flow in the pipeline. We raise our TP to reflect the better market sentiment ahead, on the lifting of the political overhang post state elections.

The fact is:
1. AAX submitted an application to UPLIFT PN17
2. Capital A submitted an application to EXTEND period for RP submission

Their actions already show they are in different time zone in terms of PN17 upliftment.

DBS Elevates CATHAY PAC AIR (00293.HK) TP to $12, Rates Buy

http://www.aastocks.com/en/stocks/news/aafn-con/NOW.1282027/latest-news/HK6

DBS wrote in a research report that CATHAY PAC AIR (00293.HK) has been able to effectively acquire a large customer base and has built a strong reputation in the business travel market.

The broker expected the resilience of passenger load factors and yields to lead to satisfactory earnings over the next two years, and will continue to surprise the market in the near term.

The broker also predicted that tight international capacity supply and strong demand for high-end leisure travel will continue to support high levels of passenger yields and seat capacity for some time.

The 1st quarter RM62 million core net profit is already known to institutional and foreigners since 2 months +. It is already stated in the slides at their website. So all these already priced in.

https://www.airasiax.com/misc/qr/presentation_slide_1Q2023.pdf

So if you calculate Core EPS for Q1 is 14 sen.
No of shares 447 million.
62 / 447 = RM0.139

The most important question is:

WILL THE Q2 Core EPS more than 14 sen? If YES, then share price up...

I believe YES since passengers carried up 24% against Q1 and number of fleet operating now 17. In Q1 it was 14.

JPM Upgrades CATHAY PAC AIR (00293.HK) to Overweight, Lifts TP to $11

http://www.aastocks.com/en/stocks/news/aafn-news/NOW.1280720/2

JPMorgan reported that Asian airlines have been seeing higher yield and robust profitability, especially when the fleet capacity reinstatement of Hong Kong and mainland Chinese airlines continue to lag behind the trend of rising demand.

Propped up by an unprecedented travel revival, prices of flight tickets could remain elevated for a longer period of time. As such, the broker upgraded the rating on CATHAY PAC AIR (00293.HK) from Neutral to Overweight, on the assumption that the airline will follow in the footsteps of regional peers (such as Singapore Airlines and Qantas) and international peers (such as European and US airlines).

*********************
What if JP Morgan initiate coverage on AAX? Since Maybank already done that ... ?

After so many days, the market already assume it will be an Extension and must submit RP. Those that scared about cannot uplift already sold on Tuesday/Wednesday.

So, when the news about cannot uplift is out drop 1%-3% then reverse back because super result will be out soon.

joyvest, AAX submitted the upliftment request and possible extension on 20-July

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3370254

This is a non-event but some short term players may sell because don't understand. Time to collect.

Already said pending, and the monthly update is done every month since last year.

Pending the decision from Bursa Securities on the application for the Proposed Relief & PN17 Upliftment, the Company had also vide the same application, applied to Bursa Securities for a further extension of time of three (3) months from 29 July 2023 to 28 October 2023 for the Company to submit a regularisation plan to the regulatory authorities in the event it does not receive Bursa Securities’ approval for the Proposed Relief & PN17 Upliftment.

As of 2 August 2023, Bursa Securities’ decision on the application for the Proposed Relief & PN17 Upliftment is pending. The Company shall make the necessary announcement(s) with regard to any material development thereof accordingly.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3373862

亚航增加飞往中国的航班以满足旅游需求激增
https://newsroom.airasia.com/news/sc-airasia-ramps-up-flights-to-china-amid-surge-in-travel-demand

马来西亚亚航 (AK) 将于 9 月 2 日起恢复亚庇飞往杭州航线
马来西亚亚航长程 (D7) 将于 9 月 1 日起每周增加 5 班吉隆坡飞往北京（大兴）的航班；从 9 月 15 日起每周有 7 班飞往上海的航班；从 9 月 30 日起每周有 4 班飞往杭州的航班

Maybank TP is RM3.58

https://klse.i3investor.com/web/blog/detail/ceomorningbrief/2023-07-28-story-h-244610643-Maybank_IB_Re_initiates_Coverage_on_AirAsia_X_Forecasts_Record_FY2023_a

What is RP?

I think it is a done deal, just need to communicate it nicely.

Johor property market is recovering.

https://www.nst.com.my/property/2023/06/919882/johors-housing-market-attracting-property-buyers-singapore

AirAsia X submits application to exit PN17, confirms The Edge report

https://theedgemalaysia.com/node/675507

Strong queue at 1.89 with 550,000 shares waiting to BUY. Looks like institutional player has really come in waiting for ikan bilis to sell AAX shares at cheap price.