Affin Hwang Capital Daily Insight (LV) - 23 April 2015 - NESTLE / AUTO / CIMB / BURSA / ECONOMY - CPI

Top Calls

Company Update � Nestle (HOLD, maintain) - Domestic demand remains healthy Post Nestle�s analyst briefing yesterday, we remain cautious on the group's earnings outlook for 2015. That said, we believe that new product launches and lower raw material costs should help mitigate the impact of slower consumer spending in Malaysia. Maintain NEUTRAL with a higher DDM-derived TP of RM77.20.

Other Calls

Sector Update � Auto & autoparts (NEUTRAL, maintain) - 1Q15 vehicle sales volume up 5.3% yoy

Company Update � CIMB Group (SELL, maintain) - CIMB Niaga: Weak quarter not a surprise

Results Note � Bursa (HOLD, maintain) - The bulls are not charging

Economy - CPI - Headline inflation rose to 0.9% yoy in March

Morning News & Market Summary

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