Wednesday, May 25, 2016

Morning News - 25 May 2016 - GENT / HLBK / GENM / UMW / FGV / KRI / STAR / AAX / SCIC / APRO / AMRB

Today’s Highlights
    Results Note – Genting (HOLD, maintain) - A decent start
    Results Note  – Hong Leong Bank (HOLD, maintain) - Qoq rebound, results within expectations
    Results Note – Genting M’sia (BUY, maintain) - UK operations continue to improve
    Results Note – UMW Holdings (SELL, downgrade) - Dragged down by both O&G and automotive
    Results Note – Felda Global Ventures (SELL, maintain) - Core net loss in 1Q16, maintain SELL
    Results Note - Kossan (HOLD, downgrade) - ASP worries
    Results Note  – Star Media (SELL, maintain) - Weak results due to print segment
    Results Note  – Air Asia X (BUY, upgrade) - The return of China and Australia markets
    Results Note – SCICOM (MSC) (BUY, maintain) - Earnings continue to rise
    Results Note – Amcorp Properties (BUY, maintain) - Dividend suprise
    Results Note – Alam Maritim (HOLD, maintain) - 1Q16 below expectations on weak revenue



Outside Malaysia            
    US stocks rally as housing data bolster optimism on economy
    US new-home sales surge to highest level in eight years
    US households’ mortgage debt rises to four-year high, Fed says
    ECB warns of financial turbulence as populism adds to risks
    German economy expands on fastest investment growth in two years
    German slip in confidence signals slowdown after bumper quarter
    Brazil records first current account surplus since 2009
    Oil advances as US crude inventories projected to decline

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