Affin Hwang Capital Daily Insight (LV) - 27 May 2016 - CIMB / IHH / YTL / YTLP / IJM / AFG / IJMP / SUNCON / JT / WTK

Top Calls

Results Note � CIMB Group (BUY, maintain) - Normalized earnings showing relief CIMB Group�s 1Q16 net profit rebounded by 40% yoy (as allowances eased) while qoq was marginally lower by 1.4% attributable to lower non-interest income. Overall, we see the Group�s allowances for impaired loans and overheads easing on a yoy and qoq comparison. We believe that the CIMB Group is on track for an earnings recovery in 2016. Maintain BUY, PT unchanged at RM5.00.

Other Calls

Results Note - IHH Healthcare (HOLD, maintain) - Inpatient admissions accelerated in 1Q16

Results Note - YTL Corporation (HOLD, maintain) - A tepid quarter

Results Note - YTL Power International (HOLD, maintain) - Still waiting for Paka extension

Results Note - IJM Corporation (BUY, maintain) - Weaker quarter

Results Note - AFG (BUY, maintain) - Steady results despite challenging condition

Results Note - IJM Plant (HOLD, maintain) - ASP and cost not in line with expectations

Results Note - Sunway Construction (BUY, maintain) - Ramping up

Results Note � Jaya Tiasa (HOLD, maintain) - Hit by higher costs in the palm oil division

Results Note � WTK (BUY, maintain) - Results below expectations

Morning News & Market Summary

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