Affin Hwang Capital Daily Insight (LV) - 22 April 2016 - TENAGA / MAXIS / AEONCR / ECONOMY - ASEAN OUTLOOK

Top Calls

Company Update � Tenaga (BUY, maintain) - Expect a steady quarter We believe TNB�s 2QFY16 results on 27 Apr would likely be within expectations. We estimate electricity demand growth in 2QFY16 to be steady (+3.0% yoy) while usage of alternative should be minimal. We maintain our BUY rating and TP of RM15.50.

Other Calls

Results Note � Maxis (HOLD, maintain) - Resilient so far despite more competition

Results Note � AEON Credit (BUY, maintain) - Propped up by a strong quarter in 4QFY16

Economy � ASEAN Outlook � Weekly Wrap - Bank Indonesia maintained its policy rate at 6.75%

Morning News & Market Summary

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