Affin Hwang Capital Daily Insight (LV) - 17 February 2016 - DLG / HART

Top Calls

Results Note � Dialog Group (HOLD, maintain) - Steadily engineering its profits Dialog�s core net profit grew 40% y-o-y to RM76.5m in 2QFY16, which was in line with our and consensus estimates. 2Q revenue grew 12% y-o-y in the quarter, mainly driven by its operations in Malaysia, Australia & New Zealand, and the Middle East. We raise our FY16/17/18E net profit by +1%/+3%/18%, as we impute higher revenue assumptions from the EPCC works for Pengerang Deepwater Terminal Phase 2. But, we reduce our TP to RM1.51, as we fine-tune our SOTP valuation as part of a transfer of coverage. Maintain HOLD.

Other Calls

Results Note � Hartalega (HOLD, maintain) - Earnings in line with expectations

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