STOCK FOCUS OF THE DAY
UMW Holdings: Space for more HOLD
We maintain HOLD on UMW Holdings but raise our SOP-based FV to RM5.50 (from RM5.00) as margins for its auto segment have recovered from rock-bottom while the rationalisation of its remaining O&G assets is expected to be completed by year-end, which would eventually remove losses from this segment.
The group held a visit to the UMW Aerospace plant in Serendah on Tuesday. UMW Aerospace will manufacture fan cases for the Rolls-Royce Trent 1000 and Trent 7000 engines, which are used in the Boeing 787 Dreamliner and Airbus A330neo respectively. UMW Aerospace is the first tier-1 supplier for Rolls-Royce in Southeast Asia. It had invested RM750mil to build the plant and most of its own supply chain comprised of parties picked by Rolls-Royce that met the strict quality controls and regulations applied to the aviation sector.
STOCKS ON RADAR
MMC Corporation, V.S. Industry, Kumpulan Jetson, Poh Kong Holdings
NEWS HIGHLIGHTS
Serba Dinamik: Proposes RM434mil share placement
Cryptocurrency: SC acts against ICO
Perdana Petroleum: Inks four vessel supply deals with Dayang Enterprise
Prestar: To list unit on ACE market by 4Q via Tashin Holdings
DISCLAIMER:
The information and opinions in this report were prepared by AmInvestment Bank Bhd. The investments discussed or recommended in this report may not be suitable for all investors. This report has been prepared for information purposes only and is not an offer to sell or a solicitation to buy any securities. The directors and employees of AmInvestment Bank Bhd. Bhd may from time to time have a position in or with the securities mentioned herein. Members of the AmBank Group Bhd and their affiliates may provide services to any company and affiliates of such companies whose securities are mentioned herein. The information herein was obtained or derived from sources that we believe are reliable, but while all reasonable care has been taken to ensure that stated facts are accurate and opinions fair and reasonable, we do not represent that it is accurate or complete and it should not be relied upon as such. No liability can be accepted for any loss that may arise from the use of this report. All opinions and estimates included in this report constitute our judgment as of this date and are subject to change without notice.
****************************************************************************************************************************************************************************************************************************************************************************************************************
DISCLAIMER:
This message may contain confidential and privileged information for its intended recipient(s) only. If you are not an intended recipient, you are hereby notified that any review, dissemination, and distribution, printing or copying of this message or any part thereof is strictly prohibited. Please delete the entire message and inform the sender of the error. Any opinions, conclusions and other information in this message that are unrelated to official business of AmBank Group are those of the individual sender and shall be understood as neither explicitly given nor endorsed by AmBank Group.
****************************************************************************************************************************************************************************************************************************************************************************************************************
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.