Affin Hwang Capital Daily Insight (LV) - 29 July 2015 - IGBREIT / AUTO / TENAGA / BAT / MMHE / GTRONICS

Top Calls

Results Note � IGB REIT (BUY, maintain) - Qoq moderated, but within our expectations IGBREIT�s 2Q15 realized net profit moderated as expected. Despite concerns over retail sales slowdown, we believe that IGB REIT�s malls will continue to sustain its high occupancy rates, being a key suburban shopping destination. 1H15 key drivers are expansion in NLA and lower expenses. Maintain BUY and TP of RM1.60. 1st interim DPU at 4.47 sen is on track to achieve a 2015E yield of 7%.

Other Calls

Sector Update � Auto & autoparts (NEUTRAL, maintain) - 1H15: GST speed bump

Company Update � Tenaga (HOLD, maintain) - Expecting a decent quarter

Results Note � British American Tobacco (HOLD, maintain) - Weaker demand douses sales volume

Results Note � MMHE (SELL, maintain) - Weaker earnings, orderbook at record low

Results Note � Globetronics (BUY, maintain) - Another decent quarter

Morning News & Market Summary

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