FW: Affin Hwang Capital Daily Insight (LV) - 17 August 2017 - HSS / DLG

 

Investment Research                   Affin Hwang Capital Daily Insight | Thursday, 17 August 2017        KLCI Index (12-month)  Research Team     research@affinhwang.com    Chue Kwok Yan  Head of Research | RESEARCH     +603 2146 7618     kwokyan.chue@affinhwang.com    Alan Tan  Chief Economist | RESEARCH     +603 2146 7540     alan.tan@affinhwang.com Top Calls   Results Note � HSS Engineers (BUY, maintain) - Within expectations HSS achieved core net profit of RM6.5m (+22% yoy) in 6M17, accounting for 36% of our RM18m estimate for FY17. This was within our expectation because traditionally fourth quarter earnings are the strongest compared to the first 3 quarters. We maintain our earnings forecasts, given its high unbilled orderbook of RM358m and new contracts secured of RM82m ytd. Its listing transfer to the Main Board and inclusion in the Shariah-compliant stock list are on track, which should raise its profile among institutional investors. We reiterate our BUY call and TP of RM1.20 based on a 2018E PER of 15x (20% discount to global peers).   Other Calls   Results Note � Dialog Group (HOLD, maintain) - Positive results Morning News & Market Summary   Asiamoney Broker Poll 2017 are now open for votes. If our research/sales/sales traders have helped you in your work, we hope for your support in the polls. For the full list of our staff and their coverage, please click on this link: Affin Hwang Capital team   For important disclosures, please refer to the Disclosure section at the end of the individual linked research reports. Unsubscribe You are currently subscribed to receive this email newsletter daily. If you no longer want to receive our email newsletter - Go here to unsubscribe and we will promptly remove you from our mailing list.   Privacy Affin Hwang Investment Bank Berhad respects your privacy and is committed to protecting the confidentiality and security of personal information provided to us. We will not use your personal information in this email newsletter or sell your email address to a third party. Go here to contact us. We welcome questions about our use of your personal information provided to us, or your comments about information that you would like to see incorporated in this newsletter.