Affin Hwang Capital Daily Insight (LV) - 10 July 2015 - LMC / WCT / ECONOMY - OPR / ECONOMY - ASEAN OUTLOOK

Top Calls

Company Update � Lafarge Malaysia (HOLD, upgrade) - To benefit from cheaper cost of coal Since October 2014, Lafarge�s share price has retraced by about 17%. On the back of cheaper coal cost, we have lowered our FY15-17E coal cost assumption. While new capacity is on track to come on stream in 2016, we believe it will be well absorbed on buoyant construction activities. We upgrade Lafarge to HOLD with a higher TP of RM9.05 (based on PER of 21x CY16 EPS � 5-year average).

Other Calls

Flash Note � WCT Holdings (BUY, maintain) - Tribunal windfall

Economy � OPR - BNM maintained its OPR at 3.25% since July 2014

Economy � ASEAN Outlook � Weekly Wrap (3 � 9 July 2015) - Asean�s countries faced with global economic slowdown

Morning News & Market Summary

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