COMPANY UPDATE
|
UMW Oil & Gas: Maintain Buy
|
From
regional to global Shariah-compliant
|
- Naga 6,
Naga 7 and Naga 8 on track to meet delivery schedule; charter
extensions secured for Naga 2 and Naga 3.
- Optimistic
of segment�s
outlook; targets to add one new unit p.a. from 2016 and not
ruling out M&A opportunities.
- Maintain
BUY and MYR5.15 TP (23x 2015 PER).
|
|
Technicals
|
A
much weaker tone. Possible rebound
The FBMKLCI tumbled 11.68 points to 1,797.20 yesterday, while the
FBMEMAS and FBM100 also closed lower by 109.88 points and 92.92
points, respectively. We recommend a �Sell on
Rallies� stance for
the index.
Trading idea is a take profit call on the stock with downside target
areas at MYR3.43 & MYR2.70.
Click here for full report »
|
Other Local News
|
Consumer:
Government unveils full list of GST-exempt items. This will
come into effect on Apr 1, 2015. There were more than 900 goods and
services in the zero-rated list. The full list of goods and services
have been gazetted and are available on the officiale-Federal Gazette
website. (Source: The Star)
MRCB: Wins MYR197m JLand job. Johor Land has awarded a MYR197m
contract to Malaysian Resources Corp Bhd (MRCB) to build a 30-storey
JLand Tower in Johor Baru. The project is expected to be completed
within 24 months in November 2016. (Source: Business Times)
TSH Resources : Palm oil yield tops industry average. TSH has
become high-yield and low-cost palm oil producer with one of the best
fresh fruit bunch (FFB) yields of 30 tonnes per hectare per year for
the last three years, way above the industry average of 19 tonnes. On
a separate note, TSH plans to allocate between MYR120m and MYR150m
capital expenditure per year for the next several years. (Source:
Business Times)
Dialog: Announces new appointments. Chan Yew Kai has been
appointed by Dialog to be its executive deputy chairman and Mustaffa
Kamal Abu Bakar as new chief operating officer. Tan Sri Dr Ngau Boon
Keat remains as executive chairman. (Source: Business Times)
|
|
|
|
Key Indices
|
Value
|
YTD
(%)
|
Daily
(%)
|
KLCI
|
1,845.3
|
(1.2)
|
(0.1)
|
JCI
|
5,140.9
|
20.3
|
0.1
|
STI
|
3,264.1
|
3.1
|
(0.4)
|
SET
|
1,587.4
|
22.2
|
0.1
|
HSI
|
22,933.0
|
(1.6)
|
0.0
|
KOSPI
|
1,991.5
|
(1.0)
|
(1.4)
|
TWSE
|
8,990.3
|
4.4
|
0.3
|
|
|
|
|
DJIA
|
16,804.7
|
1.4
|
(1.4)
|
S&P
|
1,946.2
|
5.3
|
(1.3)
|
FTSE
|
6,557.5
|
(2.8)
|
(1.0)
|
|
|
|
|
MYR/USD
|
3.3
|
(0.1)
|
(0.2)
|
CPO (1mth)
|
2,210.0
|
(15.9)
|
(1.0)
|
Crude Oil (1mth)
|
90.7
|
(7.8)
|
(0.5)
|
Gold
|
1,213.8
|
1.0
|
0.5
|
|
|
|
|
|
|
|
|
|
|
|
|
TOP STOCK PICKS
|
|
|
|
Buy rated large caps
|
|
Price
|
Target
|
Tenaga
|
|
12.32
|
14.00
|
Axiata
|
|
7.01
|
7.60
|
Sime Darby
|
|
9.18
|
10.20
|
Gamuda
|
|
4.80
|
5.30
|
UMW O&G
|
|
3.86
|
5.15
|
AFG
|
|
4.95
|
5.50
|
Perdana Petroleum
|
|
1.85
|
2.55
|
Hock Seng Lee
|
|
1.88
|
2.25
|
|
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