Hong Leong's Top Picks for 2014
2014 Outlook & Strategy (by HLIB: 10 Dec 2013)
We expect macro risks to diminish into 2014 with global growth picking up to 3.6% reinforced by synchronised growth among major economies. Malaysia's real GDP growth to pick up slightly to 5.0% in 2014 as stronger net exports offset slower domestic demand growth.
Malaysia a low Beta market given relatively large fund management industry, lower foreign shareholding (close to trough), recent foreign selldown well absorbed, FBM KLCI P/E premium valuation vs. peers at 5-year average, less volatility and low Beta vs. MSCI Asia ex-Japan. These should help limit impact of outflow pressure from tapering.
End 2014 FBM KLCI target pegged at historical mean P/E valuation of 14.71x or 1,910.
We expect macro risks to diminish into 2014 with global growth picking up to 3.6% reinforced by synchronised growth among major economies. Malaysia's real GDP growth to pick up slightly to 5.0% in 2014 as stronger net exports offset slower domestic demand growth.
Malaysia a low Beta market given relatively large fund management industry, lower foreign shareholding (close to trough), recent foreign selldown well absorbed, FBM KLCI P/E premium valuation vs. peers at 5-year average, less volatility and low Beta vs. MSCI Asia ex-Japan. These should help limit impact of outflow pressure from tapering.
End 2014 FBM KLCI target pegged at historical mean P/E valuation of 14.71x or 1,910.
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Discussions
7 people like this. Showing 12 of 12 comments
This is not helpful please! The returns of profits are too low! Only Brahims stroke the good profit!
2014-03-24 22:59
Unimpressive at all. Perhaps a small group of school-fallouts could do better than them..
2014-11-17 21:34
no lah , just wait for dow jones to drop 500 points, then can go in and sure make .
2014-11-24 21:04
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johnny cash
WOW this is very very helpfull, hope you will also put other research houses forecast n stock picks for 2014
2013-12-28 22:17