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Mayban Securities | Inter-Pacific Research Sdn Bhd | CIMB Securities
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Mayban Securities
All research from Mayban Securities |
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COMPANY UPDATE - 15 MARCH 2010
15.03.2010 - 11:37 AM (GMT+8)
Top Glove Corporation RM12.26: Buy - To come out top
Target price raised to RM14.50 (+28%). We have raised FY10-12 net profit and DPS forecasts by 7-10% and 40-50% respectively ahead of a stronger 2Q result. Top Glove has also raised core dividend payout to 40% (+10-ppt) of net profits on strong FCF expectation.
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COMPANY UPDATE - 15 MARCH 2010
15.03.2010 - 11:36 AM (GMT+8)
AirAsia RM1.33: Sell - Slower growth may prompt write-offs
Things to ponder. Higher fuel costs and lower capacity growth could result in just 5% recurring net profit growth in 2010. We also examine the impact of removing deferred tax assets and amounts due from associates, although our forecasts have yet to factor in the latter.
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MORNING CALL TECHNICAL - 15 MARCH 2010
15.03.2010 - 11:34 AM (GMT+8)
The FBM KLCI surged 11.42-points last week on declining volume bargain hunting activities on some selective shares. The market rose initially on last Monday on a gap-up move, but fell on persistent profit-taking throughout the week. The key support areas for the FBM KLCI are located in the 1,255 to 1,299-zone. The key resistance areas of 1,311 and 1,338 may cap any rebound activity.
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Inter-Pacific Capital Sdn Bhd
All research from Inter-Pacific Capital Sdn Bhd |
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DAILY CORPORATE NEWS - 15 MARCH 2010
15.03.2010 - 11:23 AM (GMT+8)
Maxbiz aims to remove blotches
Investigations into the financial irregularities in Maxbiz Corp Bhd's subsidiaries are expected to be completed in about four to five weeks, said its investigation adviser.
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ECONOMIC UPDATE - 12 MARCH 2010
12.03.2010 - 10:12 AM (GMT+8)
IPI: 1st double-digit growth
1st double-digit growth: Malaysia's Industrial Production Index (IPI) climbed for the 2 nd consecutive month on a stronger note and above consensus of 11.7%. In Jan'10, IPI rose by 12.7% y/y from 7.5% y/y in Dec'09, turning out to be its 1 st double-digit growth since Sep'04.
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DAILY CORPORATE NEWS - 12 MARCH 2010
12.03.2010 - 10:10 AM (GMT+8)
Axiata to place out 20% of Indon unit, could receive more than RM2.2bil in proceeds
Axiata Group Bhd said it planned to place out 20% of its Indonesian unit, PT XL Axiata Tbk, to increase the latter's free float. Axiata, which currently owns a 86.5% stake in XL, could receive more than RM2.2bil in proceeds from the offering, based on the current market price of XL.
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