Research Summary: 22 August 2014

Research Summary: 22 August 2014

Research House	Type	Company/Sector	Report Title	Rating/Call	Target
RHB	Company update	CBIP	Watch out for expiry of Pioneer Tax Status	Take profit	RM4.16
RHB	Results review	QL Resources	Remain optimistic	Neutral	RM3.60
RHB	Results review	POS	A normalized quarter	Buy	RM5.70
RHB	Results review	Dialog	Hold on for long-term upsides	Neutral	RM1.90
RHB	Results review	Alam Maritim	Still sailing through the storm	Neutral	RM1.35
RHB	Results review	Coastal Contracts	Stable results, awaiting updates on rig	Buy	RM5.90
RHB	Results review	GAB	No surprises in FY14	Neutral	RM12.80
RHB	Results review	Magnum	Decent yield play	Neutral	RM3.22
RHB	Results review	Puncak Niaga	Within expectations	Trading buy	RM4.01
RHB	Results review	Petra Energy	Temporary earnings setback	Neutral	RM3.02
RHB	Results review	WCT	1H14 core net profit only grows 3% y-o-y	Neutral	RM2.31
RHB	Results review	NAIM	1H14 core net profit jumps 60% y-o-y	Buy	RM5.06
RHB	Briefing	MSM	More positive outlook	Neutral	RM5.23
CIMB	Results note	Eco World	Looking beyond FY14	Add	RM7.60
CIMB	Results note	Dialog	Brick-and-mortar record year	Add	RM2.08
CIMB	Results note	Puncak Niaga	Still looking to close the deal	Add	RM4.28
CIMB	Results note	Pharmaniaga	Solid manufacturing earnings	Add	RM6.70
CIMB	Results note	WCT	Yet to really buck the trend	Hold	RM2.32
CIMB	Results note	Oriental	Better performance all-around	Hold	RM7.60
CIMB	Results note	QL	Looking forward to a better 2Q	Add	RM3.86
CIMB	Results note	GAB	Smoke yet to clear	Reduce	RM12.00
CIMB	Results note	Magnum	Deleveraging picking up pace	Add	RM3.65
CIMB	Flash note	MSM	Building its value chain	Hold	RM5.22
Maybank	Results review	Axiata	A full quarter of Axis	Buy	RM7.60
Maybank	Results review	Dialog	No surprises	Buy	RM1.95
Maybank	Results review	WCT	Lackluster 2Q14	Buy	RM2.55
Maybank	Results review	Magnum	Uneventful 2Q14	Hold	RM3.05
Maybank	Results review	Alam Maritim	1H14: Below expectations	Buy	RM1.60
Maybank	Results review	GAB	FY14: Matched expectations	Hold	RM13.20
Maybank	Results review	QL Resources	Decent start to the year	Hold	RM3.20
Maybank	Technical	OSKProp		Short-term buy
Kenanga	Results note	Axiata	Hit by Axis’ integration costs	Market perform	RM6.96
Kenanga	Results note	Alam Maritim	A muted 214; forecasts cut for now	Outperform	RM1.64
Kenanga	Results note	Coastal contracts	Coast is clear for 2Q14	Outperform	RM5.94
Kenanga	Results note	Dialog	Awaiting Pengerang Phase 2	Market perform	RM1.83
Kenanga	Results note	NAIM	Stable earnings driven by Dayang	Outperform	RM4.18
Kenanga	Results note	POS	1Q15 hit by higher operating expenses	Underperform	RM4.61
Kenanga	Results note	Puncak Niaga	Patience pays	Outperform	RM3.99
Kenanga	Results note	QL Resources	POA, the double-edged sword	Outperform	RM3.71
Kenanga	Results note	GAB	Bracing for tougher hurdles ahead	Underperform	RM12.93
Kenanga	Results note	Magnum	2Q14 in line despite poorer luck	Outperform	RM3.59
Kenanga	Results note	WCT	Lower construction revenue	Market perform	RM2.32
HL	Results review	GAB	FY14: Above expectations	Buy	RM15.77
HL	Results review	Axiata	XL 1H14 Results	Hold	RM6.92
HL	Results review	Pharmaniaga	1H14 Results – in line	Buy	RM5.30
HL	Results review	POS	Weak 1Q15 due to high operation costs	Hold	RM5.00
HL	Results review	Scomi Energy	Lower activities in Malaysia	Buy	RM1.24
HL	Results review	WCT	2Q results: slower property earnings	Hold	RM2.26
HL	Results review	Vitrox	2Q14 results – another outstanding recored	Buy	RM2.78