Affin Hwang Capital Daily Insight (LV) - 9 June 2015 - PENB / GLOVES / FGV

Top Calls

Company Update � Petra Energy (HOLD, upgrade) - Anticipating a good payday in 2016 The development of the KBM cluster fields was a success. While the earnings will only kick in in 2016, PENB is progressively recouping the development capex, thereby reducing its gearing and interest expense. In view of the good progress on the KBM front, a good payday in 2016 and improved HUC/TMM earnings visibility, we raise our SOP-derived TP to RM1.50, and upgrade PENB to a HOLD.

Other Calls

Sector Update � Rubber Gloves (OVERWEIGHT, maintain) - Likely beneficiaries of pandemics

Company � Felda Global Ventures (HOLD, maintain) - Proposed acquisition of plantation land

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