Results Note � RHB Bank (BUY, maintain)

Top Calls

Results Note � RHB Bank (BUY, maintain) - Look past the Swiber bump RHB Bank�s 2Q16 headline net profit was 37.4% lower yoy mainly due to the impairment on its Swiber corporate bond holding. Excluding the effect of the impairment, PPOP increased by a strong 15.5% yoy which made up 52% of our forecast. We believe investors should look past the one-off impairment and focus on its stronger fundamentals post-restructuring. Maintain BUY, with price target at RM5.50.

Other Calls

Results Note � IJM Corp (BUY, maintain) - Property drag

Results Note � UOA Development (BUY, maintain) - Achieved RM612m new property sales in 1H16

Results Note � IJM Plant (HOLD, maintain) - Weak 1QFY17, maintain HOLD

Results Note � Inari Amertron (BUY, maintain) - 4Q earnings rebound

Results Note � Hap Seng Plant (HOLD, maintain) - Maintain HOLD

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

Results Note � Uchi Tech (HOLD, downgrade) - 1H16 earnings rise 12% yoy

Economy � CPI - Headline inflation improves to 1.1% yoy in July

Morning News & Market Summary

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