Results Note � CIMB Group (BUY, maintain)

Top Calls

Results Note � CIMB Group (BUY, maintain) - Earnings recovery still in progress CIMB Group�s continued its earnings recovery progress with 2Q16 net profit that rebounded by 36.4% yoy and 7.3% qoq. While the 1H16 net profit remained below half of our and consensus forecasts at 42% and 45% respectively, we believe that there remain sufficient earnings drivers for a stronger second half. Maintain BUY, PT raised to RM5.30.

Other Calls

Results Note � Hong Leong Bank (HOLD, maintain) - No surprises for 4QFY16

Results Note � AirAsia (HOLD, maintain) - Benefit from cheaper fuel

Results Note � Felda Global Ventures (SELL, maintain) - Overvalued, maintain SELL

Results Note � UMW Holdings (SELL, maintain) - Into the red

Results Note � Sunway (BUY, maintain) - Property sales up 45% yoy

Results Note � KPJ Healthcare (BUY, maintain) - 1H16 results weaker than expected

Results Note � TA Ann (BUY, maintain) - Slightly weak, expecting a stronger 2H16

Results Note � SUPERMAX (HOLD, downgrade) - Tax issues

Results Note � Tiong Nam (BUY, maintain) - Earnings likely to pick up sequentially

Results Note � Bonia (SELL, maintain) - FY16 earnings largely affected by higher COGS

Results Note � Eversendai (BUY, maintain) - Further fair value loss

Morning News & Market Summary

For important disclosures, please refer to the Disclosure section at the end of the individual linked research reports.