Wednesday, August 16, 2017

FW: Affin Hwang Capital Daily Insight (LV) - 16 August 2017 - KLK / KLCCSS / PTG




 Investment Research






       Affin Hwang Capital Daily Insight | Wednesday, 16 August 2017






 KLCI Index (12-month)

 Research Team

 Chue Kwok Yan
 Head of Research | RESEARCH
    +603 2146 7618

 Alan Tan
 Chief Economist | RESEARCH
    +603 2146 7540

Top Calls


Results Note KL Kepong (HOLD, downgrade)

- Earnings not as good as expected

s 9MFY17 core net profit of RM848.6m (+30.8% yoy) was below expectations, mainly due to the weaker-than-expected profit contribution from the plantation and manufacturing divisions. As such, we have cut our FY17-19 EPS forecasts by 10-16%. Our TP for KLK has been lowered to RM25.90. Given the limited upside of 4.9% to our new 12-month TP, we downgrade the stock to a HOLD.



Other Calls


Results Note KLCCPSG (HOLD, maintain)

- A slow and steady quarter


Result Note Petronas Gas (HOLD, downgrade)

- Looming uncertainty poses risks


Morning News & Market Summary



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


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