buy sell hold  

Bursa Malaysia (BURSA MK)
Revisiting expectations
Maintain BUY with a lower MYR8.70 TP
Bursa’s current valuation implies MYR3.2b-3.3b equity ADV over the next 12M, a tad below Jul 2021-MTD’s MYR3.4b. Amid multiple challenges, ADV could remain weak over the near term, before picking up towards YE21 in anticipation for economic activities to rebound in 2022. We lower ADV forecasts, leading to cuts in our FY21/22/23E net profit by 15%/20%/ 20%. Pegging on an unchanged 23x PER (10Y mean) on FY22E earnings (FY21E previously), our revised TP is MYR8.70 (-20%).
Read More ...

Gas Malaysia (GMB MK)

Another tariff hike


Price hike possibly offset by volume pressure

GMB’s 3Q21 tariff represents another increase (+11.8%) from 2Q21, and is likely due to an increase of its gas cost (from PETRONAS). Higher gas cost would have a positive impact on GMB’s spread, all else equal. However, the possible volume shortfall from ongoing movement restrictions would have an offsetting impact on earnings. Maintain HOLD with an unchanged DCF-based MYR2.80 TP. We marginally prefer PTG (PTG MK, HOLD, CP: MYR15.60, TP: MYR17.20) among the gas utilities.


Read More ...




Singapore Funds Flow


1H21 funds flow showed a stark difference in the views on the financial sector: while retail investors were net sellers in 1H21, institutional investors were net buyers. Apart from the banks (DBS, OCBC and UOB), SGX, Singtel, Yangzijiang and Ascendas REIT were very well traded. In June however, financials fell out of favour with institutional investors while retail investors were sizeable buyers of the sector.


Read More ...

Telecommunications – Malaysia

Fixed-line Operators To Benefit From Jendela Programme


2Q21’s fixed broadband passes exceeded Jendela’s target despite the lockdown. Positively, this means Peninsular Malaysia may achieve its 7.5m premises pass target before end-22. This bodes well for TM and TIME as these companies could continue to exhibit strong subscriber growth trajectories. 5G is slated for commercial operations by end-21. Maintain MARKET WEIGHT. Top picks are TM as it is a beneficiary of the Jendela and MyDigital initiatives, and Axiata for its attractive valuation.


Read More ...

LionelLim8.16Check out our compilation of Target Prices

Share Prices

Counter NameLastChange
AEM Holdings4.380-0.030
Avi-Tech Electronics0.295-0.005
Broadway Ind0.153-0.001
China Sunsine0.475-0.005
Food Empire0.5550.005
Fortress Minerals0.3750.025
Geo Energy Res0.410-0.020
Golden Energy0.5400.010
GSS Energy0.056-
ISDN Holdings0.505-0.010
IX Biopharma0.169-
Jiutian Chemical0.094-0.002
KSH Holdings0.350-
Leader Env0.061-
Medtecs Intl0.186-0.002
Meta Health0.029-
Moya Asia0.062-0.001
Nordic Group0.4250.005
Oxley Holdings0.184-0.002
REX International0.245-0.005
Sinostar PEC0.220-
Southern Alliance Mining0.6700.030
Straco Corp.0.390-
Sunpower Group0.3850.010
The Trendlines0.0960.002
Totm Technologies0.124-0.002
UG Healthcare0.210-0.010
Uni-Asia Group1.080-
Wilmar Intl4.180-0.020
Yangzijiang Shipbldg0.960-0.015

NextInsight RSS

rss_2 NextInsight - Latest News

Online Now

We have 330 guests and no members online