Investment News

Massive underperformed during 4Q2009 and 1Q2010
Better news flow and expectation leading to 10MP
Sunway – Outperform with FV of RM1.69
Fajarbaru – Outperform with FV RM1.35
IJM Corp – Market Perform with FV RM4.88
HSL – Market Perform with FV RM1.56
Market Perform with FV RM1.56
Gamuda – Underperform with FV RM2.05
WCT – Underperform with FV RM2.10
Gamuda
· 1HFY07/10 net profit grows 26%
· Splash’s takeover bid for all water assets in the Klang Valley for RM10.75bn
· Gamuda guided US$170m and US$100m sales from Yenso Park and the Tan Thang project
· Underperform with FV RM2.05
Kencana
· 1HFY10 core net profit of RM63.1m
· Current orderbook now stands at RM1.6bn
· Outperform with FV RM1.88
TM
· TM announced yesterday the packages and rates for UniFi, i.e. TM’s High Speed Broadband service
· Fair value of RM3.55 and Market Perform call are unchanged
Maybank
· Dividend reinvestment plan, if applied by the board, will allow shareholders the option to reinvest their dividend into new shares
· Fair value pegged at RM8.96; maintain Outperform
Daily Trading Strategy
· Absorption of the constant profit-taking pressure and the close above the 10-day SMA of 1,303 suggest that the recent technical breakout signal remains valid.
· The FBM KLCI could see further upside towards the recent high of 1,334.34 in the near term
Daily Technical Watch: Kencana Petroleum
· The stock may retest RM1.72 and RM1.81 in the near term
· Immediate Support at RM1.50
· Immediate Resistance at RM1.72