Research Summary: 14 August 2014

Research Summary: 14 August 2014

Research House	Type	Company/Sector	Report Title	Rating/Call	Target
RHB	Company update	TDM	Healthcare expansion picks up pace	Neutral	RM1.07
RHB	Company update	KLCC-SS	Safe and sound	Neutral	RM6.96
RHB	Ceasing coverage	SEGI	Lacks re-rating catalysts	Not rated
CIMB	Results note	Perisai Petroleum	Drilling into recovery in 2H	Add	RM2.37
CIMB	Results note	Tomypak	From bad to worse	Reduce	RM0.70
CIMB	Flash note	KLCC-SS	Both positives and negatives	Hold	RM6.40
CIMB	Sector update	Construction	Not too late for late bloomers	Overweight
Maybank	Results preview	AirAsia	2Q14F: Earnings growth begins	Buy	RM2.65
Maybank	Results preview	AirAsia X	2Q14F: Test of faith	Sell	RM0.72
Maybank	Technical	IBhd		Short-term buy
Maybank	Results review	Perisai Petroleum	Remodeling in motion	Buy	RM1.76
Maybank	Company update	Nestle	2H14 earnings to catch up	Hold	RM64.00
HL	Cease coverage	BHIC	2QFY14 Results	N/A	RM2.36
HL	Results review	Perisai Petroleum	Back to black	Buy	RM1.72
HL	Briefing	KLCC-SS	Corporate day highlights	Hold	RM6.28
HL	Briefing	Nestle	Domestic stays strong; more capex needed	Hold	RM66.52
Kenanga	Results note	SEGI	2Q14 below expectations	Underperform	RM1.21
Kenanga	Results note	AMWAY	Anticipating a stronger 2H14	Market perform	RM12.50
Kenanga	Company update	Nestle	2Q14 analysts’ briefing	Outperform	RM76.10
Kenanga	Company update	KLCC-SS	Limited downside, uncapped upside	Outperform	RM6.90
Kenanga	Results note	Perisai Petroleum	Weak 2Q; E3 and Rubicone still idle	Outperform	RM2.01

Research Summary: 12 August 2014

Research Summary: 12 August 2014

Research House	Type	Company/Sector	Report Title	Rating/Call	Target
RHB	Sector update	Plantation	July inventory climbs marginally	Overweight
RHB	Results review	AFG	Stronger earnings ahead but likely priced in	Neutral	RM4.95
RHB	Results review	Petronas Chemical	A better 2H14 for all	Sell	RM6.11
RHB	Company update	Mah Sing	Anchoring presence in Rantau	Trading buy	RM2.58
RHB	News flash	KLK	Acquiring Belgian Surfactant manufacturer	Neutral	RM26.00
RHB	News flash	CBIP	Proposes bonus and free warrants issue	Neutral	RM4.95
RHB	Results review	Takaful	1HFY14 no surprises despite RBCT	Buy	RM15.00
RHB	Results review	SUNREIT	Looking ahead to FY15	Neutral	RM1.42
RHB	Results review	KLCC-SS	Still growing steadily	Neutral	RM6.96
RHB	Eco highlights	Economic	Stronger Industrial Porduction and real GDP growth in the 2Q, 2014 full-year GDP growth upgraded
RHB	Eco highlights	Economic	Manufacturing sales weakened further in June, as demand conditions softened
CIMB	Eco update	Economic	IP points to robust GDP growth in 2Q14
CIMB	Results note	KLCC-SS	A small miss	Hold	RM6.40
CIMB	Results note	AFG	Swift loan growth spoilt by lower non-interest income	Hold	RM4.88
CIMB	Results note	SUNREIT	Better outlook ahead	Hold	RM1.40
CIMB	Flash note	PetGas	More stable now	Add	RM24.73
CIMB	Flash note	Mah Sing	Expanding to Seremban	Add	RM3.07
CIMB	Results note	Petronas Chemical	Ready to run	Add	RM7.70
CIMB	Sector update	Semiconductor	Riding o the internet of things	Overweight
Maybank	Company update	Mah Sing	Strong into affordable housing	Buy	RM2.72
Maybank	Company update	PetGas	All is well	Hold	RM23.50
Maybank	Company update	KLK	Buys a small downstream player	Hold	RM24.00
Maybank	Company update	TSH Resources	Proposes a 1-for-2 bonus issue	Hold	RM3.40
Maybank	Company update	Time dotcom	Another Trans-Pacific cable	Hold	RM5.00
Maybank	Eco update	Economic	IPI June 2014: another knock-out quarter
Maybank	Eco update	Economic	Manufacturing sales June 2014: slowing growth but fundamentals intact
Maybank	Results review	AFG	Expect better NIMs ahead	Buy	RM5.50
Maybank	Results review	Petronas Chemical	2Q14 below expectations	Hold	RM6.90
Maybank	Results review	KLCC-SS	No earnings surprises	Hold	RM6.49
Maybank	Results review	SUNREIT	Above expectations	Hold	RM1.42
Maybank	Technical	KSL		Short-term buy
Kenanga	Eco viewpoint	Economic	IPI: Increased by 7.0%, on continued manufacturing expansion
Kenanga	Results note	KLCC-SS	Good as usual	Outperform	RM6.90
Kenanga	Quick bites	TSH Resources	1-for-2 bonus issue	Outperform	RM4.00
Kenanga	Results note	AFG	1Q15 broadly inline	Market perform	RM4.93
Kenanga	Quick bites	CBIP	Bonus issue and free warrants	Outperform	RM5.60
Kenanga	On radar	IWCity	Time to “reclaim” value!	Trading buy	RM3.39
Kenanga	Results note	Mah Sing	Maiden Seremban landbank	Outperform	RM2.71
Kenanga	Results note	Petronas Chemical	2Q14 below but a better 2H14 ahead	Outperform	RM7.19
Kenanga	Sector update	Plantation	Higher-than-expected July inventory	Neutral
Kenanga	Results note	SUNREIT	FY14 well within expectations	Outperform	RM1.56