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Top Calls
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Company Note - Sunway
(BUY, maintain)
- Bonus rewards Sunway has proposed a 4-for-3 bonus issue of shares and issuance of 3 free warrants for every 10 existing shares held. The exercise will improve the share trading liquidity and allow Sunway to raise cash of about RM1bn if all the warrants are exercised in the future. We raise our RNAV-based TP to RM4.22 from RM3.90. We see the core 2017E PER of 12x as attractive and reaffirm our BUY call.
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Other Calls
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Economic Update - US
Economy - Monetary Policy
- US Fed proceeds with interest rate hike as expected
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