Affin Hwang Capital Daily Insight (LV) - 1 June 2016 - ASTRO / BANKING / MMC / BAB / MRCB / PARKSON

Top Calls

Results Note � Astro (BUY, maintain) - Another good start to year Astro�s 1QFY17 core net profit of RM209m (+17.4% yoy) was above our and consensus expectations. The growth in earnings was mainly driven by higher adex revenue, Go Shop and radio segment contribution. Notably, Astro announced a higher interim DPS of 3 sen (1QFY16: 2.75 sen). Maintain our BUY rating on Astro and target price unchanged at RM3.20.

Other Calls

Sector Update � Banking (OVERWEIGHT, maintain) - April loan growth remained weak, 2H16 to pick up

Results Note � MMC (BUY, maintain) - Expecting a busy 2H

Results Note � Bumi Armada (HOLD, upgrade) - 1Q16 declines on weak FPSO & FGS earnings

Results Note � MRCB (BUY, maintain) - Property sale gains

Results Note � Parkson (SELL, maintain) - Still in the red

Morning News & Market Summary

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