RHBInvest Research

Top Story


Mamee:

• Aggressive topline growth will compromise
• Fair value at RM3.60.

Corporate Highlights


KFC:

• Fast-tracking growth in India
• Fast-tracking growth in India
• Fair value of KFCH at RM3.85
• Upgrading the stock to Market Perform from underperform previously

Kencana:

• The company’s earnings were significantly better (+26.2% qoq and +69.8% yoy) due to the start-up of its KM-1 drilling rig
• We maintain our forecasts as results were within expectations.
• Maintain Outperform call. Fair value of RM2.60/share.
  

Technical Highlights


Daily Trading Strategy:

• FBM KLCI is unlikely to launch a powerful rally to re-challenge the key resistance level at 1,524 and the historical level of 1,531.99 soon, in our view.
• In fact, we see a constant risk of the index falling below the 1,500 psychological level should the profit-taking activities persist in the near term.
• We continue to stay negative and expect the index to see more pressure on the downside

Daily Technical Watch: Media Prima

• Bargain-hunting activities near the RM2.20 key support level ...
• Immediate Support = RM2.20
• Immediate Resistance= RM2.44