Price Target

CGS-CIMB Is 'double Overweight' on Construction Sector on Govt Policy Continuity
Source : CIMB, Price Call : BUY, Price Target : 1.91
Last Price : 1.55, Upside/Downside : +0.36(23.23%)

KUALA LUMPUR (Nov 7): Hong Leong Investment Bank (HLIB) maintained its “buy” call on Leong Hup International Bhd at 66 sen, with a higher target price (TP) of 73 sen, as it sees strong earnings going into the second half of the financial year ending Dec 31, 2023 (2HFY2023), supported by stable demand, more balanced supply-demand dynamics in key operating countries, and lower feed prices.

In a note on Tuesday, HLIB said poultry prices had come marginally above the previous ceiling price of RM9.40/kg, due to stabilised supply and lower feed prices like soybean meal and corn, following the removal of subsidies and the price ceiling effective from Nov 1, 2023.

Despite the absence of subsidies and lower poultry prices, the research house believes Leong Hup’s livestock segment in Malaysia will remain profitable in the near term, supported by lower feed prices and stable demand.

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Yet, it believes that the poultry price volatility in Malaysia will remain low, given accelerated industry consolidation in the past, which resulted from the Covid-19 pandemic and heightened commodity prices in 2022.

The research house added that the turnaround in the company's Indonesian operations that began in the second quarter ended June 30, 2023 (2QFY2023) is expected to continue through the next two quarters.

This sustained improvement is attributed to a more balanced supply and demand situation in the market, which is a result of recovering demand and reduced pricing competition from major industry players.

Similarly, the contribution from Singapore, which has been on the rise since 4QFY2022, is expected to be maintained or even improve in 2HFY2023, as Leong Hup had gradually increased its selling prices to its contract customers to reflect higher production costs in FY2022.

Furthermore, earnings from Singapore are expected to benefit from both the higher selling prices and the removal of the export ban on broiler chickens to Singapore effective from July 2023.

Overall, HLIB is optimistic about Leong Hup, given its bright near-term earnings prospects.

“Key risks include a sudden spike in feed prices, intensified industry competition, and escalating food inflation, which will affect consumption of poultry products," the research house added.

At the time of writing on Tuesday, Leong Hup was trading at 66 sen a share, translating into a market capitalisation of RM2.39 billion.

Nothing venture, nothing have 🤜🤛

Nothing venture, nothing have 🤜🤛

9 Ex Date & 29 Payment

take short break first ~~~😎

Ini kalilah ~~~ Heng...Ong...Huat ah

Ini kalilah ~~~ Heng...Ong...Huat ah

好势了

好势了

Kasi moyet 🐵 sumbat pisang 🍌

Mari mari break TP RM1.91. Ini kalilah 👍

好势了 https://www.youtube.com/watch?v=1iXlG6pCCf0

好势了 https://www.youtube.com/watch?v=1iXlG6pCCf0

VSI will need breakout confirmation above the 50%FR (RM1.04) to fuel upside momentum towards the 61.8%FR (RM1.11) and 76.4%FR (RM1.19) going forward, while the 100-day ma (89sen) and 200-day ma (88sen) limits downside risk.

Moyet kena sumbat pisang 🐵🍌

Today 10.10.2023 good day for YTL / YTLPOWR ~~ Heng...Ong...Huat ah !!!

Today 10.10.2023 good day for YTL / YTLPOWR ~~ Heng...Ong...Huat ah !!!

好势了 https://www.youtube.com/watch?v=1iXlG6pCCf0

I'm coming RM2.01, sui sui lai ~~

😂 !!! 🤜🤛

Ini kalilah 👍

Try break RM1.72 !!! Hope sui sui lai ~~

Very slow, like tortoise

Big Volume today ???

IOI Properties on track to achieve new heights, HLIB says
Hong Leong Investment Bank (HLIB) Research has maintained its “buy” rating for IOI Properties Group Bhd (IOIPG) at RM1.67, with a higher target price (TP) of RM2.48 (from RM2.10).

Buy cheap sales ~~~😜

Price cheap ~~

Wah Lau Eh ~~~ 2y, 3y, or 5y ?

Ini macam 👍👍👍

Yes ! Heng.. Ong.. Huat ah !!

Coming soon break high TP: RM0.82

Boss x makan Viagra 😁

Try break high TP: RM0.82

Well done n congrat 👍

Power !!! Heng... Ong... Huat ah

Well done 📈

QR when ? 14.9.2023 ???

Coming soon break : RM1.75~ RM1.91~ RM 2.10
Wonderful !!!

Right 🤜🤛

so confident try short selling lah & buy back !!!

QR 27.9.2023

Break RM0.62. Ini kalilah

Volume increase..... try break RM1.00.
QR coming soon !!! Hope Sui Sui Lai

Heng..Ong..Huat..ah . Happy Merdeka

Yes, we worry !!!

Thanks 🤜🤛

Sad ! Very2 slow ~~~

Any comment all big bro ???

Hari2 naik 好势了