FW: Affin Hwang Capital Daily Insight (LV) - 24 August 2017 - UCHI / UOAD / GENP / IJMP / HAPL / IJM / MBM / IHH / CPI

 

Investment Research                   Affin Hwang Capital Daily Insight | Thursday, 24 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 � Uchi Tech (BUY, upgrade) - Smelling the coffee Uchi�s 2Q17 results were above expectations. We raise our 2017-19 EPS forecasts by 14%-30% to account for the improved near-term outlook resulting from better demand for high-end automated coffee machines from its end-customer Jura. With the improved prospects, undemanding valuation (2018E PE of 13x) and attractive 2018E yield of 7.6%, we upgrade Uchi to BUY and with a higher TP of RM2.67.   Other Calls   Results Note � UOA Development (BUY, maintain) - Stronger quarter Results Note � Genting Plant (BUY, maintain) - Higher yoy earnings as production and ASPs rise Results Note � IJM Plant (HOLD, downgrade) - Disappointing start to the year Results Note � Hap Seng Plant (HOLD, maintain) - Within expectations Results Note � IJM Corp (HOLD, maintain) - Manufacturing and plantation drag Results Note � MBM Resources (HOLD, maintain) - Weak vehicles sales continue to be a drag Results Note � IHH Healthcare (HOLD, maintain) - Hiccups from new hospitals continue Economic Update � Malaysia- CPI - Headline inflation improved to 3.2% yoy in July 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.