RHBInvest Research Highlights 22nd October 2010

Saturday, October 23, 2010

Top Story


  • Sizing up the pure mobile domestic players – Maxis vs. DiGi.
  • No change to our Neutral stance on the sector.
  • Maintain Outperform on Maxis (FV=RM5.75)
  • Maintain Outperform on DiGi (FV=RM26.35)
  • TM (Market Perform, FV=RM3.55)
  • Axiata is still a Market Perform (FV=RM4.75)

Corporate Highlights


  • Sabiha Gokcen for long term prospects.
  • We have raised our fair value to RM6.81 (from RM5.96). Maintain Outperform.


  • Lands RM36.5m Pasir Mas Halal Park infrastructure job.
  • Fair value is RM1.37. Maintain Outperform.

Technical Highlights

Daily Trading Strategy:

  • Fresh opportunity to retest 1,500
  • A sustainable trading above the 10-day SMA means a return to positive trading sentiment in the short term.
  • For now, the 10-day SMA becomes its immediate support level on the chart, followed by the tiny technical gap near 1,472.32 - 1,476.05.
  • Robust trading volume and healthy rotational plays are expected to cap profit-taking pressure in the near term, in our view.
  • Opportunity to retest the 1,500 psychological level and the recent high of 1,503.82, before gearing up to challenge the historical high at 1,524.69


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