RHBInvest Research
Tuesday, December 14, 2010
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
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