Research Summary: 18 August 2014

Research Summary: 18 August 2014

Research House	Type	Company/Sector	Report Title	Rating/Call	Target
RHB	Results review	Affin	Maiden Hwang IB contribution fails to lift earnings	Neutral	RM3.50
RHB	Eco highlights	Economic	Real GDP growth strengthens in the 2Q, but momentum likely to fade in the 2H
RHB	Eco highlights	Economic	Current account surplus narrows in the 2Q
CIMB	Eco update	Economic	2Q14 GDP: strong growth spells rate hikes in Sep
CIMB	Company note	Thong Guan	Stretching forward	Add	RM3.95
CIMB	Flash note	TH Heavy Engineering	Hot and heavy roadshow	Add	RM1.23
CIMB	Sector update	Plantations	The 30% foreign limit proposal	Neutral
CIMB	Results note	Affin	Start of a credit cost upcycle?	Reduce	RM3.11
CIMB	Flash note	Tomypak	Looking for a new owner	Reduce	RM0.70
CIMB	Eco update	Economic	2Q14 BOP: current account surplus narrows
Maybank	Eco update	Economic	2Q 2014 Real GDP: As good as it gets…
Maybank	Eco update	Economic	BOP 2Q14: Sustained current account surplus
Maybank	Company update	UWM	Recovery in motion	Buy	RM13.82
Maybank	Sector	Plantations	30% foreign stake rule unlikely	Neutral
Maybank	Technical	Tasco		Short-term buy
Kenanga	Eco viewpoint	Economic	2014 BOP: Current account surplus narrowed to RM16.0B
Kenanga	Results note	Affin	Another dismal quarter	Market perform	RM3.55
Kenanga	Sector update	Plantation	Foreign ownership restriction in Indonesia	Neutral
Kenanga	Eco viewpoint	Economic	2Q14 GDP: up 6.4% on strong external demand
Kenanga	Company update	Amway	Clouded by cautious consumer sentiment	Market perform	RM12.50
HL	Eco update	Economic	2Q14 GDP: Surprise on the upside
HL	Sector	Plantations	Indonesia mulls plantations cap	Neutral
HL	Company insight	WZ Satu	Transformation with multi-growth drivers	Not rated
HL	Results note	Affin	Sharp jump in provision & IL formation	Hold	RM3.44