Affin Hwang Capital Daily Insight (LV) - 24 May 2016 - MALAKOFF / GENP / LMC / UMW-OG

Top Calls

Results Note � Malakoff (HOLD, downgrade) - Dim showing Malakoff�s 1Q16 results were below expectations. Earnings fell short due to an RM80m one-off maintenance charge at Segari and RM12m in liquidated damages from delay to TBE. We cut our FY16-18E EPS by 12-14% and downgrade the stock to HOLD from Buy with a revised DCF of RM1.65 (previously RM1.92).

Other Calls

Results Note � Genting Plant (SELL, maintain) - Below expectation, maintain SELL

Results Note - Lafarge Malaysia (HOLD, maintain) - Integration cost and pricing pressure

Results Note � UMW-OG (SELL, maintain) - Rigs utilisation continues to disappoint

Morning News & Market Summary

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