STOCK FOCUS OF THE DAY
Cahya Mata Sarawak: A “prosperous” FY18 BUY
We maintain our BUY call and forecast for Cahya Mata Sarawak (CMS) with a higher sum-of-parts fair value of RM4.80 (from RM4.45), as we roll forward our valuation base year to FY19 from FY18. We came away from a recent visit to the company feeling that the company is on track to achieve our upbeat forecasts.
CMS has adopted new corporate structure following the retirement of its former CEO, Dato’ Richard Curtis. The new corporate structure is run by two CEOs, of which in charge in two distinct areas (Exhibit 2) which are 1) CMS Berhad (i.e. corporate affairs) led by Dato Isaac Lugun and 2) CMS Management Services (i.e. existing core businesses) led by Goh Chii Bing. The new leadership will continue to drive the business as outlaid by its predecessor previously.
STOCKS ON RADAR
Pentamaster Corporation, KUB Malaysia, Malton, Sino Hua-An International
ECONOMIC HIGHLIGHTS
Thailand: Economy remains favourable in 2018
NEWS HIGHLIGHTS
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Microlink Solutions: Bank Kerjasama Rakyat cancels LOI
Rubber Glove Sector: Malaysia to dominate world market for rubber gloves
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The information and opinions in this report were prepared by AmInvestment Bank Bhd. The investments discussed or recommended in this report may not be suitable for all investors. This report has been prepared for information purposes only and is not an offer to sell or a solicitation to buy any securities. The directors and employees of AmInvestment Bank Bhd. Bhd may from time to time have a position in or with the securities mentioned herein. Members of the AmBank Group Bhd and their affiliates may provide services to any company and affiliates of such companies whose securities are mentioned herein. The information herein was obtained or derived from sources that we believe are reliable, but while all reasonable care has been taken to ensure that stated facts are accurate and opinions fair and reasonable, we do not represent that it is accurate or complete and it should not be relied upon as such. No liability can be accepted for any loss that may arise from the use of this report. All opinions and estimates included in this report constitute our judgment as of this date and are subject to change without notice.
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