RHBInvest Research
Monday, April 4, 2011
Top Story: Construction -Neutral
- Sector Update
- Big Time For Small Caps
- Our top small-cap picks are Fajarbaru (FV = RM1.65) and TRC (FV = RM1.94).
Corporate Highlights
IOI:
- Visit Note
- Luck is not on its side
- Reduce target price to RM5.90 (from RM6.15).
- Maintain our Underperform recommendation on the stock.
IJM Corp:
- News Update
- “Approval In-Principle” For West Coast Expressway And NPE Extension.
- Both projects will be “two bites on the same cherry” for IJM
- Maintain Underperform. Fair value is RM6.39.
- TNB: News Update
- Signs agreement for Manjung project
- Maintain Market Perform.
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