RHBInvest Research

Thursday, September 22, 2011

Top Story: Petronas Gas – Dividend payout assured despite cash outflow Market Perform

Visit Note

¨ Management echoed market expectations that gas supply should return to normal once the bypass from the damaged Bekok-C platform is completed by end-Sep.

Sector Call

Motor: On the rebound Neutral

Sector Update

MBM Resources: Fair value maintained at RM3.25 Market Perform

Tan Chong: Fair value maintained at RM5.50 Outperform

DRB-HICOM: Fair value maintained at RM2.95 Outperform

UMW: Fair value maintained at RM7.35 Market Perform

APM: Fair value maintained at RM5.10 Market Perform

Proton: Fair value maintained at RM2.50 Underperform

Corporate Highlights

Evergreen Fibreboard: Diversifying into solid timber Underperform

News Update

¨ Evergreen has entered into a share subscription agreement with Craft Master Timber Products S/B (CMTP), Lau Yng Yng and Lim Sock Ling to subscribe for 7,012,500 new ordinary shares in CMTP (equivalent to 51% stake) for RM7m cash. CMTP is a newly-incorporated company to carry out the business in manufacturing of solid wooden furniture parts and finger jointing.


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