RHBInvest Research

Property:

Sector Update
Fundamentals intact despite weak market sentiment
We lower our fair value on Glomac and YNH. As for KSL, the stock is still largely undervalued.
We maintain our Overweight rating on the sector. Our top pick is Mah Sing.



Corporate Highlights



UMW Holdings:

Company Update
UMW Secures NAGA-3 Contract
We reiterate our Market Perform recommendation and fair value of RM7.85



SP Setia:

Results Note
As good as expected
Maintain our Outperform call with an unchanged fair value of RM7.30



Kencana Petroleum:

Results Note
Earnings Mainly Bumped Up By KM-1
We maintain our fair value at RM2.85/share and our Market Perform call on the stock.