Skip to main content

Posts

Showing posts with the label TA Research

Featured Post

Market Daily Report: Bursa Malaysia Closes Higher On BNM’s OPR Decision, Wall Street Gains

KUALA LUMPUR, Nov 5 (Bernama) -- Bursa Malaysia closed higher, buoyed by Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 2.75 per cent, alongside positive cues from Wall Street. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 19.30 points, or 1.19 per cent, to 1,635.86 from Wednesday’s close of 1,616.56. The benchmark index opened 6.72 points higher at 1,623.28, and fluctuated between an intraday high of 1,642.44 and a low of 1,622.62 during the trading session. However, market breadth was negative, with losers outnumbering gainers 723 to 497, while 466 counters were unchanged, 1,075 untraded and 10 suspended. Turnover rose to 3.74 billion units valued at RM3.61 billion compared with yesterday’s 2.81 billion units valued at RM2.57 billion.
Post a Comment
Read more

Brokers Report: Glomac Bhd - Weak 1H Due to Absence of New Launches

Downgrade to SELL with lower target price (TP) of RM0.68 Review Excluding the disposal gain of c.RM80mn (net) and a one-off grant of RM26.3mn, Glomac’s 1HFY17 normalised net profit of RM4.9mn came in below expectations. It only accounted for 8% of both ours and consensus’ full-year forecasts. The variance was largely due to 1) lower-than-expected revenue, and 2) weaker-than-expected property margin. Glomac’s 1HFY17 headline revenue and PBT grew 25% and 140% YoY to RM335.4mn and RM143.5mn respectively. However, normalized revenue and PBT would have declined by 29% and 80% YoY after adjusting for the impact of land disposal (Cheras land sale to PR1MA for RM145.6mn announced in Oct-15) and one-off grant received for upgrade and improvement of infrastructure surrounding Glomac Damansara development amounting to RM26.3mn. The poor results were attributable to slow progress billing as its previous key contributing projects are nearing completion or have completed during the per...
Post a Comment
Read more

Brokers Report: CARLSBG - Net Profit Increased Propelled by Efficiencies

Upgrade from sell to HOLD with target price (TP) of RM15.52 Review Carlsberg reported its 9MFY16 net profit of RM157.9mn (+11.7% YoY). The results came within ours (71%) but below streets estimates (66%). No dividend was declared, similar to last corresponding period. YoY, the group revenue grew marginally by 0.6% to RM1.2bn. This was driven by positive contribution from Singapore segment. The segment recorded a double-digit growth of 10.6% to RM424.6mn supported by 1) stronger sales volume as well as 2) higher contribution from subsidiary company Maybev. Meanwhile, Malaysia segment logged a slight contraction of 3.9% to RM820.3mn underpinned by loss of contribution from Luen Heng business. Note that, Luen Heng is a distributor and supplier of wines and spirit and the disinvestment was completed last August 2015. For 9MFY16, the group’s operating profit expanded by 15.5% YoY to RM204.5mn owing to strong contribution from both segments. This was attributable t...
Post a Comment
Read more