Affin Hwang Capital Daily Insight (LV) - 28 April 2016 - TNB / MAHB / MMHE / MPI / ECONOMY - MONETARY POLICY

Top Calls

Results Note � Tenaga (BUY, maintain) - Robust electricity demand growth TNB�s 1HFY16 results were within expectations. Electricity demand growth was robust mainly driven by higher consumption in the commercial sector. We see potential upside to dividends as management expects to update its dividend policy by year-end. We maintain our BUY call on TNB.

Other Calls

Results Note � Malaysia Airports (SELL, maintain) - A turnaround

Results Note � MMHE (HOLD, upgrade) - Profitable despite significantly lower revenue

Results Note � MPI (HOLD, upgrade) - 9MFY16 earnings more than doubled

Economy � Monetary Policy - US Fed may raise its Fed Funds rate in June

Morning News & Market Summary

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