Wednesday, November 19, 2014

Morning News - 19 November 2014 - CIMB / LMC / DIALOG / HARTA / MRCB / SUNWAY / MBM / BENALEC


Today’s Highlights
►     Results Note – CIMB Group (REDUCE, maintain) - Hit by headwinds from Indonesia
►    Results Note – Lafarge Malaysia (REDUCE, maintain) - Higher operating costs dampen margins
►    Results Note – Dialog Group (REDUCE, maintain) - Not as rosy as anticipated
►    Results Note – Hartalega (ADD, maintain) - Higher start-up costs drags 1H15 profits
►    Results Note – MRCB (BUY, maintain) - Keeping forecast in spite of weak 3Q14
►    Results Note – Sunway (BUY, upgrade) - 9M14 Property sales up 14%
►    Results Notes – MBM Resources (BUY, upgrade) - Recovery to be seen next year
►    Results Note – Benalec Hldgs (TR BUY, maintain) - Profits from land sales coming through



Quick Bites
►     TM: TM signs agreement for DTT services worth RM1.057bn



Outside Malaysia
►    S&P 500 rises on economic optimism as health-care gains
►    US has record inflow of portfolio investments in September
►    Homebuilder confidence rebounds as US buyers more enthusiastic
►    Producer prices in US unexpectedly climb on services costs
►    German investor confidence rebounds as recession averted
►    Abe calls early election, delays sales-tax increase
►    Bank Indonesia raises key interest rate as fuel prices increase
►    Oil drops as investors weigh likelihood of OPEC cutback

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