FW: Affin Hwang Capital Daily Insight (LV) - 22 August 2017 - MLK / STAR / APM / NESZ / MBS

 

Investment Research                   Affin Hwang Capital Daily Insight | Tuesday, 22 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 � Malakoff (BUY, upgrade) - Better cost management helps We are upgrading our call on Malakoff to a BUY from HOLD with an unchanged TP of RM1.25, as we believe that current valuation is undemanding, on the back of the -15% share price correction since May 17. 1HFY17 PATAMI at RM202m (-5.5 yoy) is tracking above our expectation but in line with consensus expectation, as lower cost during the quarter has helped offset the lower capacity payment in 2QFY17.   Other Calls   Result Note � Star Media (SELL, maintain) - Tough business environment Results Note � APM (SELL, maintain) - Hit by weak auto sales Results Note � Nestle (HOLD, maintain) - Hit by higher raw material cost in 2Q17 Results Note � MBSB (Cease coverage) - Decline in impairment props up quarter 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.