- Outright winner is MBSB with potential cash option at MYR2.82/share (+19% upside).
- Positive for RHB - upgrade to BUY with a higher TP of MYR10.45. Positive for OSK with a FV MYR2.64.
- HOLD on CIMB with an unchanged TP of MYR7.60.
Sime Darby: Maintain Buy
Short term pain, long term gain Shariah-compliant |
- Expect neutral-to-slight negative earnings impact in the short term if Sime successfully privatises NBPO.
- But we are long term positive as PNG opens up a new market and provides future expansion opportunities for the group.
- Maintain BUY with an unchanged TP of MYR10.20 based on 18x 2015 PER.
Technicals: Sell the Budget Day rebound (if any)
The FBMKLCI advanced 5.41 points to 1,829.73 yesterday, while the FBMEMAS and FBM100 also closed higher by 42.72 points and 35.20 points, respectively. We recommend a “Sell on Rallies” stance for the index.
Trading idea is a Take Profit call on NAIM with downside target areas at MYR3.08 & MYR2.28. |
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