Maybank IB Views

Tuesday, June 21, 2011

Gamuda RM3.74: Buy
Entering an exciting phase Shariah-compliant

Check points ahead. The earnings uptrend should continue with 3Q results expected to track towards expectations. Property sales has again, shot past the internal target, reaching RM1b in just 9 months. The next few months will be exciting as pre-qualification for the MRT underground works have started. Yenso will see its maiden launch in Sept with a stronger indication on the demand momentum by end-2011. We are still positive; Buy (RNAV based TP: RM4.45)


Exciting year ahead. FY11 results were in line; net DPS of 21 sen was a marginal 1 sen above forecast. These results are now academic in light of the recently introduced 4D Toto Jackpot which will not only lift lotto but non-lotto revenue. BST remains a Buy; our DCF based TP implies a fair 15.6x 2012 PER for its defensive qualities. At the current share price, the stock still offers attractive net dividend yield of 5.3%.

The FBM KLCI lost 4.24 points and ended at 1,559.19 yesterday. Its resistance areas of 1,560 and 1,576 will cap market gains, whilst the obvious support areas are located at 1,533 and 1,558.Due to the US markets’ rebound tone last night, we will see some initial low volume buying activities in the local bourse today.

Trading idea for today is a Short-Term Buy call on SCIENTX.

Other Local News
AirAsia: AirAsia X gests approval for new key routes. Long-haul low-cost carrier AirAsia X Sdn Bhd gets the green light from the Transport Ministry to fly to Istanbul, Beijing, Shanghai, Osaka and Jeddah, sources close to the ministry said. A number of these flights may start as early as August this year. (Source: The Edge Daily)

AirAsia: AirAsia, CAE International plan aviation academy. AirAsia Bhd is teaming up with CAE International Holdings Ltd to set up an aviation academy and has set its sights to be the largest of its kind in Asean. The academy would provide training services for pilots, cabin crew, engineers, ramp handlers, guest services and aviation management. (Source: Bursa Malaysia)

Energy: No subsidy to IPPs. Energy, Green Technology and Water Minister Datuk Seri Peter Chin Fah Kui reiterated yesterday that the government has never allocated any form of subsidies for gas sold by Petronas to Independent Power Producers (IPPs). Instead, the lower price for gas sold to IPPs by Petronas is part of its foregone revenue, in line with the government's initiative to ensure that IPPs can maintain a low tariff rate. (Source: The Sun)

Tradewinds Crop: RM60m refurbishment. Tradewinds Corp Bhd is forking out about RM60m to refurbish its hotels to improve its branding and inject a fesh new look. It expects an increase in room rates after the refurbishment in three years time. (Source: The Star)

Transport: 60,000 daily traffic volume seen for new highway. LATAR Expressway (KL-Kuala Selangor Expressway), to be open to the public before the month ends, will see an initial average daily traffic volume of over 60,000 vehicles. The concessionaire of the highway is jointly owned by Bina Puri Holdings Bhd and Arena Irama Sdn Bhd. (Source: The Star)

UEMLand: Sets up Singapore subsidiary. The new subsidiary, Sunrise MS Pte Ltd is to provide consultancy, advisory and technical services relating to project development in Singapore. (Source: Bursa Malaysia)


Post a Comment

Related Posts with Thumbnails

About This Blog

To learn better Bursa Malaysia Stock Market & build up My Portfolio.

Current stock in my portfolio:
1) Hupseng
2) Glomac
3) Masteel
4) Supermax
5) Cocoland
6) Xinquan

Unit Trust Price


  © Blogger template On The Road by 2009

Back to TOP