RHBInvest Research

Plantation:

• Raise forecasts by RM200/tonne for CY2011 and 2012 to RM3,100 and RM2,900 respectively, while maintaining our RM2,700 assumption for CY2010.
• Upgrade call on Genting Plant to Market Perform (from underperform)
• Upgrade our sector call to Overweight (from neutral).
• Sime Darby remains a Market Perform,

Corporate Highlights

PLUS:

• Received a takeover offer from Jelas Ulung Sdn Bhd (JU) at RM5.20/share, a 13% premium over UEM-EPF’s RM4.60/share offer.
• Revise fair value from RM4.60 to RM5.20 to match the latest offer.
• Upgrade from underperform to Trading Buy.

Hai-O:

• Fair value has been cut to RM1.35 (RM1.71 previously) based on unchanged 10x CY11 EPS.
• Maintain Underperform.

Jaya Tiasa:

• 2QFY04/11 net profit boosted by higher FFB and CPO prices Indicative fair value is revised to RM5.78 (from RM4.83).