Affin Hwang Capital Daily Insight (LV) - 13 November 2014 - MPI / INARI / GASMSIA / HAP SENG

Top Calls

Results Note - MPI (REDUCE, downgrade) - Margin and revenue growth disappoints MPI’s 1QFY15 results were slightly below expectations. More importantly, sequential revenue growth was weaker-than-expected while margins were moderately weaker yoy, disappointing considering that a major loss making unit had been hived off. On the back of the weak set of results, we cut earnings, target price and downgrade the stock to a Reduce.

Other Calls

Company Update - Inari (BUY, maintain) - Riding with a winner

Results Note � Gas Malaysia (REDUCE, maintain) - Margins still relatively preserved

Results Note � Hap Seng Plant (REDUCE, maintain) - Higher costs, below expectations

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