RHBInvest Research

Sector Call


Telecom:

• DiGi-Celcom collaboration to yield big cash savings

• Estimate potential upside of 96 sen (+3.6%) and 9 sen (+1.6%) to DiGi’s and Axiata’s fair value respectively

Corporate Highlights

Axis REIT:

• More acquisitions in the pipeline
• Post the completion of the acquisition of Axis Eureka and PTP D8 before 1Q2011 as well as the disposal of Axis North Port LC1
• Six potential assets in the pipeline, worth about RM400m
• Maintain Outperform with indicative fair value at RM2.71

KPJ:

• Expanding its foothold to Sibu, Sarawak
• New acquisition would be able to contribute RM3m to its total earnings in FY11
• Outperform with fair value of RM4.39