Research Summary: 11 July 2014

Research Summary: 11 July 2014

Research House	Type	Company/Sector	Report Title	Rating/Call	Target
RHB	Eco highlights	Economic	Bank Negara Malaysia raised its key policy rate by 25 basis points to 3.25%
RHB	Sector update	Plantation	Inventory upcycle interrupted	Overweight
RHB	News flash	Gabungan AQRS	Ceasing coverage	Not rated
RHB	Sector update	Telco	Mobile data pricing remains rational	Neutral
RHB	News flash	Mudajaya	Ceasing coverage	Neutral
RHB	Sector strategy	Construction	Record backlog with more jobs to come	Overweight
Maybank	Company update	CIMB	A tripartite merger in the making	Hold	RM8.00
Maybank	Eco highlights	Economic	As expected, OPR raised by 25bps
Maybank	Eco highlights	Economic	IPI May 2014: Continued positive momentum
Maybank	Sector update	Plantations	Lower stocks to half price decline	Neutral
Maybank	Technical	OSK		Short-term buy
CIMB	Sector note	Plantations	Temporary relief?	Neutral
CIMB	Sector note	Banks	Rate hike impact positive, but small	Neutral
CIMB	Strategy note		First rate hike in three years
CIMB	Eco update	Economic	BNM hike rates by 25 bp
CIMB	Eco update	Economic	Strong IP growth in May
Kenanga	Quick bites	AEON	Land acquisition for expansion	underperform	RM3.44
Kenanga	Eco viewpoint	Economic	Malaysia IPI: Gained 6.0% in May, manufacturing improves on stronger E&E demand
Kenanga	Sector update	REITs	Subsequent OPR hikes may affect MREITs’ valuations	Overweight
Kenanga	Sector update	Banking	Short-term gains, long-term pains?	Neutral
Kenanga	Eco viewpoint	Economic	OPR raised to 3.25%, a turning point
Kenanga	IPO Note	Heng Huat Resources	First mover advantage	Not rated	RM0.53
Kenanga	Market Strategy		3Q14 investment strategy review: 25bps hike in interest rate
Kenanga	Sector update	Plantation	MPOB June data is bullish to CPO prices	Overweight
Kenanga	Sector update	Property Developers	BNM raises OPR	Neutral