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TA Securities
Thursday, October 09, 2014
FBMKLCI: 1,824.32
A Member of the TA Group
MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048
Daily Brief
Market View, News In Brief: Corporate, Economy, and Share Buybacks
THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY*
TA Research Team Coverage
Market View
Tel: +603 – 2072 1277
[email protected]
www.taonline.com.my
Rebound May Stall on Growth Concerns
Stocks slumped a second day on growth worries Wednesday, after a pair of weak German
output data and IMF’s downgrade of global growth to 3.8% next year fueled profit-taking
and selling interest. The KLCI tumbled another 9.22 points to end at the day’s low of
1,824.32, off an early high of 1,831.79, as losers trashed gainers 935 to 93 on increased
turnover of 2.58bn shares worth RM2.5bn.
Resistance at 1,852/1,859
The overnight rebound on Wall Street should spillover to the local market, but with market
tone more cautious now amid global growth concerns, gains may not sustain. On the index,
immediate overhead resistances stay at the 200, 50 and 100-day moving averages at 1,852,
1,859 and 1,868 respectively, followed by the falling upper Bollinger band at 1,870.
Meanwhile, any breakdown to close below the 26/9/14 low of 1,829 should target next
significant retracement support at 1,806, the 38.2%FR, before pausing. Next key support
below will be near the 4/2/14 pivot low of 1,770.
Buy Dialog & Wah Seong for Rebound
Any sharp sell-offs on Dialog towards RM1.59 (50%FR) or RM1.50 (38.2%FR) will be
attractive to buy for rebound profits towards RM1.79 (76.4%FR), with tougher resistances at
RM1.88 and RM1.96 (8/7/14 high). A more solid support platform is at RM1.40 (23.6%FR).
Likewise, sell-offs on Wah Seong towards key supports at RM1.65 and RM1.60 (26/12/13
low) should attract buyers looking for oversold rebound towards RM1.79 (38.2%FR),
RM1.85 (50%FR) and RM1.91 (61.8%FR) going forward.
Asian Markets Join Global Rout
Stocks in Asia were mostly lower Wednesday, with Tokyo and Hong Kong leading losses
after the International Monetary Fund cut its global economic forecast, and after a reading of
China’s services sector weakened from a 17-month high. The declines followed a steep global
selloff overnight, as a fall in German industrial output sent European shares to their lowest
level in months and led the Dow Jones Industrial Average to its steepest loss since the end of
July. The International Monetary Fund on Tuesday cut its outlook for global growth, citing
weakness in the eurozone and a slowdown in emerging markets. It expects the global
economy to grow 3.8% next year, down from its July forecast of 4%. Investors also digested
data that showed HSBC's China services Purchasing Manager's Index (PMI) weakening from
a 17-month high in August.
Meanwhile, minutes of the Federal Reserve's last policy meeting are due later in the session
and markets will be acutely sensitive to how the debate between hawks and doves on the
committee was playing out. Japan's benchmark Nikkei index pared losses after falling to a
more than one-month low earlier in the session, closing lower for a second day.
Page 1 of 6
TA Securities
9-Oct-14
A Member of the TA Group
Meanwhile, the yen moved off a three-week high hit overnight after August's current account
surplus came in above expectations. Machinery stocks were among the biggest losers, with
Hitachi down more than 3 percent and Komatsu down 2 percent. Hong Kong shares
surrendered all of its gains from the previous day after overseas markets posted sharp losses
on global growth concern. Some blue chips were among the biggest drags on the Hong Kong
indexes, with Tencent Holdings Ltd dropping 1 percent and China Mobile Ltd falling 0.7
percent. Elsewhere, Australia's benchmark S&P ASX 200 index closed at an eight-month low
after finishing at a one-week low on Tuesday. Miners declined despite iron ore prices
rebounding to $80 a ton. Rio Tinto, BHP Billiton and Fortescue Metals eased more than
percent each.
Wall Street Rebound On Fed Minutes
U.S. stocks soared on Wednesday, with major indexes posting their biggest one-day jumps of
2014 after the Federal Reserve reassured investors that its first interest rate hike would not
come until it deemed the economy could withstand it. Minutes from the Federal Open Market
Committee’s last meeting showed a number of policy makers said U.S. growth “might be
slower than they expected if foreign economic growth came in weaker than anticipated.” In a
statement following the September gathering, policy makers renewed their pledge to keep
interest rates near zero for a “considerable time” after ending bond purchases this month.
They also projected a steeper increase in borrowing costs next year. Merck & Co. and
UnitedHealth Group Inc. each jumped 2.9 percent to pace gains in the Dow. Meanwhile,
Apple Inc. rallied 2.1 percent to send the Nasdaq 100 Index higher by 2.1 percent, its best
advance in a year. Shares of aluminum producer Alcoa gained 1.4% in after-hours trading
after the company reported better-than-expected third-quarter earnings, a report that
marked the unofficial start to the corporate earnings season.
The Dow Jones Industrial Average rose 274.83 points, or 1.64 percent, to 16,994.22, the S&P
500 added 33.79 points, or 1.75 percent to 1,968.89 and the Nasdaq Composite gained 83.39
points, or 1.90 percent, to 4,468.59.
Page 2 of 6
TA Securities
9-Oct-14
A Member of the TA Group
News In Brief
Corporate
Shares of CIMB Group Holdings Bhd (CIMB Group), Malaysia Building Society Bhd
(MBSB) and RHB Capital Bhd will be suspended today pending a material announcement.
Following this, the three parties entered into a 90-day exclusivity agreement to negotiate
and finalize pricing, structure and other relevant terms and conditions for a proposed
merger of the three parties and the creation of a mega Islamic bank. (Bernama)
Ireka Corporation Bhd's infrastructure arm, Ireka Engineering and Construction Sdn Bhd
(IECSB), has bagged a RM276.8mn construction contract from KL Eco City Sdn Bhd. Ireka
will be responsible for the main building works of the retail podium, office Block A and the
remaining works for the basement levels at the KL Eco City's mixed development project.
The mixed development project, located in Bangsar, is expected to commence on October 15,
2014 and completed in 29 months from the date of commencement. (Business Times)
Mass Rapid Transit Corp Sdn Bhd said Line 1 of the Klang Valley Mass Rapid Transit
project is at 52% completion and is on track to meet its deadline on December 2016, which
will see the Sungai Buloh to Semantan line operational. The completion rate is ahead of
schedule. (The Edge)
Dynac Sdn Bhd, which has terminated the memorandum of agreement (MOA) for the
proposed reverse takeover (RTO) exercise with Goh Ban Huat Bhd (GBH), is seeking a listing
via an initial public offering. Dynac provides cooling systems and various services such as
cable support and engineering for the O&G and other industries. Its main products include
heat ventilation and air-conditioning systems. (StarBiz)
Pelikan International Corp Bhd’s earnings growth will be underpinned by the reformed
Herlitz AG, which will hold key European and Latin American sales units once its corporate
exercise is concluded. Pelikan has proposed to inject its core stationery sales and
distribution assets into its 70.9%-owned subsidiary Herlitz, which will see it raise RM462mn
through offer for sale and private placement of new shares by Herlitz. This will reduce its
effective stake in Frankfurt-listed Herlitz to 65.4%. (StarBiz)
Bina Puri Holdings Bhd expects lower construction revenue in its current financial year
ending Dec 31, 2014 (FY14), as several projects, including klia2, have been completed, while
new projects awarded are still at their early stages. However, Bina Puri’s construction order
book of RM2bn will keep the group busy over the next five years. (The Edge)
Seacera Group Bhd has been prequalified to bid for the main contractor works of Warisan
Merdeka Project in Kuala Lumpur. Seacera and its joint-venture (JV) partners are now
invited to participate in the tendering process to construct the tower structure comprising of
reinforced raft foundation, concrete core walls and mega columns, inclusive of multi-storey
basement car park and also responsible for management of nominated subcontractors. (The
Edge)
CAB Cakaran Corp Bhd has entered into a heads of agreement with several parties to
acquire a 51% stake in Singapore-based Tong Huat Poultry Processing Factory Pte Ltd for
S$7.5mn (RM19.2mn) as it plans to tap into the Singapore poultry industry. The transaction
will be satisfied via an issuance of 9.2mn CAB shares and a cash payment of S$4.3mn. (The
Edge)
CapitaMalls Malaysia REIT Management Sdn Bhd (CMRM) has appointed Low Peck Chen
as chief executive officer (CEO), effective Nov 1. Low, who is currently the deputy CEO of
CMRM, would help facilitate the leadership transition until the end of the year. (Bernama)
Page 3 of 6
TA Securities
9-Oct-14
A Member of the TA Group
Magni-Tech Industries Bhd is actively looking for opportunities to diversify its business.
Armed with a net cash position of more than RM100mn, the group was exploring new
business ventures in the property and manufacturing sectors. (Business Times)
KPS Consortium Bhd (KPSCB) plans to sell a land and building together with machinery to
Latitude Tree Holdings Bhd for RM22mn. The purchasers are Uptown Promenade Sdn Bhd
and Rhong Khen Industries Sdn Bhd - wholly owned subsidiaries of Latitude Tree Holdings.
(The Edge)
CIMB Group Holdings Bhd has appointed Teoh Su Yin as an Independent Non-Executive
Director of CIMB Group. (Bernama)
LPI Capital Bhd posted a pre-tax profit of RM77.4mn for its third quarter ended Sept 30, up
7.6% from RM71.9mn in the same period last year. The strong performance was contributed
by the continued good results reported by its wholly owned insurance unit Lonpac
Insurance Bhd. (Bernama)
Page 4 of 6
TA Securities
9-Oct-14
A Member of the TA Group
News In Brief
Economy
Asia
Malaysia
Foreign Reserves Dives to US$127.3bn
After a quarter of relative stability, Malaysia’s foreign reserves took a sharp dive to end 3Q
at US$127.3bn. This is the lowest this year and constitutes a whopping lost of US$4.2bn as
compared to just a fortnight ago. In Ringgit terms, foreign reserves also fell to RM416.9bn
but this has taken into account the quarterly adjustment for foreign exchange revaluation
changes. The reserves position is sufficient to finance 8.7 months of retained imports and is
1.2 times the short-term external debt. (Source: BNM, TA Securities)
China
Services-PMI Weakens Slightly to 53.5
The headline HSBC China Services PMI moderated to 53.5 in September from a seventeenmonth high of 54.1 in August. New business and price indices both fell. Meanwhile,
outstanding business saw a smaller contraction and the employment index improved
marginally from the level seen in August. Overall, the services sector held up in September,
despite the downward pressure seen in the manufacturing sector. As such, risks to growth
in the near term are still on the downside, and warrant accommodative monetary as well as
fiscal policies. (Source: Markit Economics)
Japan
Current account surplus widens
Japan logged a surplus of ¥287.1 billion in the current account, the broadest measure of the
country's trade with the rest of the world, in August. The trade deficit expanded due to
growing imports of fossil fuels while income improved with higher gains from equity and
other direct investment, as well as from investment in financial items. (Source: AFP)
U.S.
Fed Officials Saw Global Slowdown Among Risks to Outlook
According to minutes of the Sept. 16-17 Federal Open Market Committee meeting, Federal
Reserve policy makers last month worried that slowing global growth and a stronger dollar
posed risks to the U.S. economy as they decided to maintain a pledge to keep interest rates
low for a “considerable time.” To the latter, the minutes highlighted growing concern
among policy makers who say further gains in the dollar could hurt exports and damp
inflation, which has undershot the Fed’s goal for more than two years. Other key concerns
also include persistent shortfall of economic growth and inflation in the euro area which
could lead to a further appreciation of the dollar and have adverse effects on the U.S.
external sector. In tandem with the stronger Dollar, while most participants at the Fed
meeting thought inflation would move gradually toward the Fed’s goal, a couple said it was
possible that “domestic inflation might be held down by persistent disinflation among U.S.
trading partners and further appreciation of the dollar.”
In terms of interest rates, the retained a pledge to keep interest rates near zero for a
“considerable time” after it concludes an asset purchase program that’s due to end after its
October meeting. Some participants saw the current forward guidance as appropriate, but
concern was raised that the reference to ‘considerable time’ in the current forward
guidance could be misunderstood as a commitment rather than as data dependent.” The
minutes also showed there was a discussion on financial stability and developments
including a deterioration in leveraged lending standards, stretched stock market valuations,
and compressed risk spreads. (Source: Bloomberg, Federal Reserve)
Page 5 of 6
TA Securities
9-Oct-14
A Member of the TA Group
Share Buy-Back: 08-OCt-2014
Company
Bought Back
Price (RM)
Hi/Lo (RM)
BREM
115,000
2.4/2.39
2.41/2.35
COASTAL
50,000
4.3/4.25
4.5/4.25
CRESNDO
8,000
2.77/2.75
2.78/2.73
CSCSTEL
48,800
1.15/1.13
1.15/1.12
DAIBOCI
4,000
4.18/4.16
4.18/4.16
GRANFLO
15,000
0.3/0.295
0.3/0.29
HAIO
1,000
2.50
2.51/2.49
MEDAINC
45,000
0.67
0.665/0.635
N2N
35,000
0.82/0.80
0.82/0.80
NPC
5,000
2.73
2.73
OVERSEA
250,000
0.215/0.21
0.215/0.205
PW
85,000
1.6/1.54
1.6/1.54
RCECAP
624,000
0.33/0.32
0.33/0.32
SMRT
100,000
0.78/0.685
0.72/0.65
SUNWAY
199,000
3.31/3.29
3.35/3.28
TNLOGIS
662,800
1.2/1.13
1.2/1.12
UNIMECH
41,600
1.74/1.70
1.74/1.70
WASEONG
30,000
1.7/1.68
1.75/1.68
WCT
300,000
2.13/2.12
2.15/2.11
Total Treasury
Shares
4,794,031
290,000
948,000
8,176,000
416,100
15,000
6,695,988
9,122,900
4,582,700
12,100
1,142,200
2,744,800
39,570,400
7,029,800
3,619,800
662,800
8,319,666
2,651,967
12,265,200
Source: Bursa Malaysia
Disclaimer
The information in this report has been obtained from sources believed to be reliable. Its accuracy or completeness is not guaranteed and opinions are subject to
change without notice. This report is for information only and not to be construed as a solicitation for contracts. We accept no liability for any direct or indirect
loss arising from the use of this document. We, our associates, directors, employees may have an interest in the securities and/or companies mentioned herein.
for TA SECURITIES HOLDINGS BERHAD (14948-M)
MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048
(A Participating Organisation of Bursa Malaysia Securities Berhad)
Kaladher Govindan – Head of Research
Page 6 of 6
For Internal Circulation Only
SNAPSHOT OF STOCKS UNDER COVERAGE
Company
Share Price
(RM)
08-Oct-14
Target Price
(RM)
BETA
EPS (sen)
FY14
FY15
PER (X)
FY14
FY15
0.80
2.79
11.96
0.69
3.10
14.22
0.62
0.65
1.10
10.8
28.7
77.6
12.1
31.2
96.1
7.4
9.7
15.4
6.6
8.9
12.5
2.5
2.9
3.8
2.5
2.9
4.7
0.98
3.82
13.09
-18.4
-27.0
-8.6
0.67
2.68
10.44
19.4
4.1
14.6
11.9
-13.1
0.0
BANKS & FINANCIAL SERVICES
AFG
4.85
AFFIN
3.27
AMBANK
6.79
CIMB
6.98
HLBANK
14.46
MAYBANK
9.89
PBBANK
18.68
RHBCAP
8.70
BURSA
7.94
4.35
3.50
7.80
7.50
14.10
11.20
19.00
10.80
8.80
1.29
0.94
1.00
1.45
0.66
0.93
0.77
0.98
1.15
36.4
32.5
59.1
54.5
116.9
71.6
115.5
76.4
36.5
37.5
34.0
61.7
49.9
118.9
74.2
127.9
83.2
39.5
13.3
10.1
11.5
12.8
12.4
13.8
16.2
11.4
21.8
12.9
9.6
11.0
14.0
12.2
13.3
14.6
10.5
20.1
6.1
4.6
3.5
4.3
2.8
6.1
2.5
2.1
4.0
4.6
4.6
3.8
4.5
2.8
6.1
2.6
2.3
4.5
5.23
4.10
7.55
7.74
14.96
10.20
20.93
9.70
8.16
-7.3
-20.3
-10.1
-9.8
-3.3
-3.0
-10.8
-10.3
-2.7
4.08
3.23
6.62
6.67
13.70
9.44
17.39
7.47
7.21
19.0
1.2
2.6
4.6
5.5
4.8
7.4
16.5
10.1
4.2
-16.6
-6.2
-8.4
0.4
-0.5
-0.6
10.1
-1.1
CONSTRUCTION
BPURI
GAMUDA
IJM
NAIM
SENDAI
TRC
WCT
LITRAK
0.65
4.81
6.41
3.19
0.91
0.50
2.11
3.90
0.74
5.13
7.17
4.33
0.95
0.51
2.19
4.18
1.01
1.33
0.88
2.06
1.34
1.52
0.90
0.40
4.8
30.7
33.9
46.8
5.2
3.0
16.3
27.1
9.6
33.8
42.5
50.3
9.5
6.5
19.2
28.6
13.4
15.7
18.9
6.8
17.5
16.4
13.0
14.4
6.8
14.2
15.1
6.3
9.5
7.6
11.0
13.7
3.1
2.9
3.9
1.6
2.2
4.0
2.7
4.4
6.2
2.9
2.3
1.9
2.2
4.0
4.7
4.6
0.87
5.00
6.93
4.42
1.49
0.62
2.50
4.60
-24.9
-3.8
-7.5
-27.8
-39.3
-20.2
-15.4
-15.2
0.64
4.10
5.51
3.18
0.88
0.49
1.97
3.58
2.4
17.3
16.4
0.3
3.4
1.0
7.1
8.9
-9.7
0.2
10.6
-12.6
-13.0
-6.6
4.0
-10.8
11.70
12.66
11.42
13.55
0.78
0.67
62.2
65.6
64.6
70.0
18.8
19.3
18.1
18.1
4.8
5.1
5.0
5.0
13.54
17.38
-13.6
-27.2
11.10
12.64
5.4
0.2
-3.9
-20.9
3.62
11.74
16.82
67.20
2.58
3.41
3.75
13.35
18.71
68.06
2.86
4.12
0.94
0.52
0.42
0.55
0.82
0.96
14.1
68.8
68.7
256.7
12.7
12.8
15.1
73.6
78.5
287.4
14.4
15.3
25.6
17.1
24.5
26.2
20.3
26.6
24.0
15.9
21.4
23.4
17.9
22.3
1.5
5.3
3.7
3.7
6.2
1.0
1.8
5.6
4.2
4.1
2.5
1.2
4.33
12.47
18.70
69.50
3.45
3.59
-16.4
-5.8
-10.0
-3.3
-25.3
-5.0
2.97
11.62
16.70
63.50
2.17
2.64
22.1
1.0
0.7
5.8
18.9
29.2
3.4
-0.3
-8.6
-1.2
5.4
20.0
66.16
68.00
1.06
312.6
347.6
21.2
19.0
4.5
5.0
73.98
-10.6
58.00
14.1
3.2
9.30
4.04
10.69
4.57
1.24
0.84
51.3
22.5
57.1
28.9
18.1
18.0
16.3
14.0
1.0
2.1
1.1
2.1
10.40
4.68
-10.6
-13.7
9.22
4.00
0.9
1.0
-9.4
-7.8
3.60
4.51
0.95
23.7
27.1
15.2
13.3
7.4
7.5
4.03
-10.6
3.59
0.3
-9.0
HEALTHCARE
KPJ
HARTA
KOSSAN
SUPERMX
TOPGLOV
KAREX
3.86
6.89
4.24
2.25
4.83
2.82
4.65
7.30
5.10
2.60
4.75
3.55
0.65
0.61
0.54
0.54
0.74
na
12.2
29.9
25.4
19.2
30.3
11.2
14.4
31.8
31.3
23.8
35.0
15.0
31.7
23.0
16.7
11.7
15.9
25.3
26.8
21.7
13.5
9.4
13.8
18.8
1.5
2.1
2.7
2.5
3.2
1.0
2.0
2.0
3.3
3.2
3.6
1.3
4.14
7.69
4.63
3.08
6.20
3.52
-6.8
-10.4
-8.4
-26.9
-22.1
-19.9
2.97
5.72
3.13
2.06
4.48
1.23
30.0
20.5
35.5
9.2
7.8
128.6
-0.5
-4.7
-1.9
-18.8
-14.2
1.4
INDUSTRIAL
SCIENTX
SKPRES
UNIMECH
7.14
0.66
1.71
8.56
1.10
1.78
1.38
0.69
1.03
67.1
3.3
17.0
77.3
5.0
20.8
10.6
20.1
10.0
9.2
13.1
8.2
2.9
2.6
3.6
3.2
3.8
4.2
7.55
0.75
1.78
-5.4
-12.7
-3.9
4.94
0.31
1.36
44.5
114.8
25.7
25.5
111.3
2.4
MEDIA
MEDIA PRIMA
STAR
2.10
2.45
2.44
2.52
1.33
0.32
15.7
20.8
18.1
21.7
13.4
11.8
11.6
11.3
5.7
7.3
6.7
7.3
2.90
2.79
-27.6
-12.1
2.08
2.09
1.0
17.2
-19.8
12.5
OIL & GAS
ICON
MHB
PANTECH
PCHEM
PERISAI
PETDAG
PETGAS
SKPETRO
UMWOG
1.43
2.85
1.03
6.24
1.21
19.44
22.16
3.78
3.40
2.12
3.72
1.32
6.04
1.83
18.73
23.77
5.71
4.82
na
1.10
1.49
0.92
1.57
0.82
1.06
1.50
na
8.1
11.7
9.6
34.4
3.5
75.6
88.5
17.0
12.2
13.2
16.2
9.9
43.1
13.1
93.7
91.0
24.8
19.3
17.7
24.4
10.8
18.2
34.6
25.7
25.0
22.3
27.9
10.8
17.6
10.4
14.5
9.2
20.8
24.3
15.2
17.6
0.0
1.8
4.5
2.8
0.0
3.1
2.5
0.0
0.0
0.0
1.8
3.9
3.4
0.0
3.6
2.7
0.9
0.0
2.19
4.16
1.15
7.21
1.73
31.82
24.96
4.95
4.63
-34.7
-31.5
-10.4
-13.5
-30.1
-38.9
-11.2
-23.6
-26.6
1.40
2.83
0.87
6.15
1.19
18.26
20.92
3.68
2.80
2.1
0.7
18.4
1.5
1.7
6.5
5.9
2.7
21.4
-22.7
-18.6
5.6
-9.8
-23.9
-38.2
-8.7
-22.7
-15.2
AUTOMOBILE
EPMB
MBMR
UMW
CONSUMER
Brewery
CARLSBG
GUINESS
Retail
AEON
AMWAY
F&N
NESTLE
PARKSON
QL
Tobacco
BAT
GAMING
Casino
GENTING
GENM
NFO
BJTOTO
Div Yield (%)
FY14
FY15
52weeks
High Price
% Chg
52weeks
Low Price
% Chg
% Chg
YTD
For Internal Circulation Only
SNAPSHOT OF STOCKS UNDER COVERAGE
Company
Share Price
(RM)
Target Price
(RM)
BETA
EPS (sen)
FY14
FY15
PER (X)
FY14
FY15
4.89
3.42
3.50
4.75
20.54
2.00
9.09
6.90
6.39
3.68
4.21
4.38
20.71
2.19
10.37
7.83
0.72
na
0.59
1.05
0.84
0.59
0.70
0.54
28.1
13.2
8.7
23.9
109.0
12.6
46.4
31.8
38.5
16.9
12.0
20.0
102.7
15.9
41.3
33.0
17.4
25.9
40.2
19.9
18.8
15.9
19.6
21.7
12.7
20.3
29.3
23.7
20.0
12.6
22.0
20.9
2.9
1.8
2.0
4.2
2.9
2.0
4.0
3.8
4.7
2.3
2.3
2.3
2.7
2.0
3.3
3.0
5.71
4.70
4.03
5.36
25.28
2.30
9.97
7.53
-14.4
-27.2
-13.2
-11.4
-18.8
-13.0
-8.8
-8.4
4.88
3.42
3.00
4.09
20.54
1.86
8.69
6.67
0.2
0.0
16.7
16.1
0.0
7.5
4.6
3.5
-13.0
-23.8
-1.4
0.8
-17.5
-2.9
-4.5
-2.3
2.77
1.10
2.10
2.54
2.37
1.50
3.41
3.28
2.00
0.90
3.05
3.50
2.98
1.70
3.08
3.85
1.78
1.42
1.15
na
1.20
0.58
0.66
1.26
53.3
14.9
31.1
14.2
22.8
8.3
16.2
30.4
18.3
12.9
41.0
19.9
27.6
17.2
21.8
32.5
5.2
7.4
6.7
17.9
10.4
18.2
21.0
10.8
15.1
8.5
5.1
12.7
8.6
8.7
15.6
10.1
5.8
4.5
5.7
3.1
4.0
1.3
3.4
3.5
5.1
4.1
6.2
3.7
4.6
1.3
3.5
3.7
3.46
1.24
2.52
3.56
2.60
1.61
3.65
3.67
-19.9
-11.3
-16.7
-28.7
-8.8
-6.8
-6.6
-10.6
2.62
1.03
1.74
2.38
1.99
0.60
2.70
2.54
5.7
6.8
20.7
6.7
19.1
150.0
26.3
29.1
-13.4
-1.8
9.4
1.2
4.9
122.2
13.3
20.6
1.50
1.44
1.57
1.65
0.53
0.66
7.7
8.6
8.8
9.4
19.4
16.7
17.1
15.3
5.5
6.4
6.2
6.9
1.55
1.56
-3.2
-7.7
1.22
1.32
23.0
9.1
21.0
2.9
POWER & UTILITIES
TENAGA
YTLPOWR
12.52
1.54
14.37
1.94
0.97
1.12
105.8
18.6
96.0
15.6
11.8
8.3
13.0
9.9
3.0
6.5
2.7
0.6
12.60
1.87
-0.6
-17.5
9.01
1.42
39.0
8.5
10.0
-14.4
TELECOMMUNICATIONS
AXIATA
DIGI
MAXIS
TM
7.03
5.84
6.42
6.83
6.90
5.13
7.34
7.42
1.17
1.02
0.80
0.73
29.4
23.8
27.5
23.0
33.3
25.4
30.5
24.9
23.9
24.6
23.3
29.7
21.1
23.0
21.1
27.4
3.2
3.9
6.2
3.6
3.6
4.3
4.8
3.8
7.17
5.95
7.30
6.99
-2.0
-1.8
-12.1
-2.3
6.38
4.56
6.21
5.05
10.2
28.1
3.4
35.2
1.9
17.7
-11.7
23.1
TECHNOLOGY
Semiconductor & Electronics
IRIS
0.36
MPI
5.49
UNISEM
1.48
0.40
7.10
2.10
0.65
0.55
0.93
1.1
29.1
5.9
1.2
38.3
11.8
31.1
18.8
25.1
28.8
14.3
12.6
1.3
2.7
1.4
1.3
3.6
1.4
0.63
6.49
1.90
-43.7
-15.4
-22.1
0.24
2.66
0.84
47.9
106.4
77.2
26.8
72.6
48.0
2.42
7.16
2.64
7.82
1.33
0.90
7.5
6.6
22.0
20.1
32.2
107.7
11.0
35.6
2.5
0.5
2.5
1.6
2.97
9.78
-18.5
-26.8
2.18
7.07
11.0
1.3
10.0
-20.4
1.58
6.79
2.97
1.72
6.74
3.48
1.40
0.95
na
1.4
35.5
14.7
6.1
40.4
16.4
115.8
19.1
20.2
25.8
16.8
18.2
1.9
1.0
3.7
1.9
1.2
4.1
2.24
7.10
3.10
-29.5
-4.4
-4.2
1.57
4.96
2.45
0.6
36.9
21.2
-10.7
19.1
17.4
PLANTATIONS
BSTEAD
FGV
IJMPLNT
IOICORP
KLK
KWANTAS
SIME
UMCCA
PROPERTY
CRESNDO
GLOMAC
HUAYANG
IOIPG
MAHSING
SNTORIA
SPSETIA
SUNWAY
REIT
SUNREIT
CMMT
TRANSPORTATION
Airlines
AIRASIA
AIRPORT
Freight & Tankers
MAYBULK
MISC
WPRTS
Div Yield (%)
FY14
FY15
52weeks
High Price
% Chg
52weeks
Low Price
% Chg
% Chg
YTD
SNAPSHOT OF FOREIGN STOCKS UNDER COVERAGE
Company
Share Price
(S$)
BANKS & FINANCIAL SERVICES
DBS
18.24
OCBC
9.71
UOB
22.24
PLANTATIONS
WILMAR
IFAR
3.04
0.81
Target Price
(S$)
Beta
EPS (cent)
FY14
FY15
PER (X)
FY14
FY15
Div Yield (%)
FY14
FY15
52week
High Price
% Chg
18.80
10.70
24.40
1.09
1.00
1.10
161.0
84.2
209.1
168.8
89.1
229.2
11.3
11.5
10.6
10.6
10.3
9.8
3.1
3.7
3.4
3.1
3.8
3.4
18.61
10.30
24.24
-2.0
-5.8
-8.3
15.65
8.84
19.36
16.5
10.4
14.9
6.7
-2.1
5.0
3.34
0.95
0.77
0.98
19.8
4.7
23.7
6.5
15.3
17.2
12.8
12.4
2.0
2.0
2.0
0.2
3.65
1.11
-16.7
-26.7
3.01
0.73
1.0
11.7
-11.1
-8.5
BUY : Total return within the next 12 months exceeds required rate of return by 5%-point.
HOLD : Total return within the next 12 months exceeds required rate of return by between 0-5%-point.
SELL : Total return is lower than the required rate of return.
Total Return is defined as expected share price appreciation plus gross dividend over the next 12 months.
Required Rate of Return of 10% is defined as the yield for one-year Malaysian government treasury plus assumed
equity risk premium.
52week
Low Price
% Chg
% Chg
YTD