Stock Pick 2nd September, 2010 | 201 Views | No Comments »
Nothing Exciting. KNM’s 1HFY10 results were below expectations despite a higher 2QFY10 PBT of RM8.3m compared to breakeven in 1QFY10 in tandem with a better plant utilization rate. However, the net profit was lower due to lower tax incentive being recognized during the quarter. Hence, we are downgrading our FY10 earnings by 27%. KNM has proposed a share consolidation of 4-into-1 shares. Maintain Neutral with target price RM0.56.
Below estimates. KNM’s 1HFY10 results were below consensus and our expectations, making up 27% and 28% of the FY10 forecasts respectively despite recording a higher 2QFY10 PBT of RM8.3m compared to breakeven in 1QFY10. The better PBT was contributed by higher utilization of its plants. Nevertheless, due to the lower tax incentive from Borsig’s acquisition being recognized for the quarter, its 2QFY10 net profit dropped 64.9% to RM14.1m from RM40.3m in 1QFY10. Besides that, its YTD performance continued to be affected by the slower new orders and a drop in selling prices of its process equipment amid strong competition, especially for its low to mid-end products.
Read the rest of this post » » »
[ Tagged In ] KNM
Fixed Deposit 2nd September, 2010 | 74 Views | No Comments »
Yesterday, we look at conventional fixed deposit rate for September 2010. However, if you prefer to deposit in Islamic Fixed Deposit Account or commonly known as General Investment Account (GIA-i) instead of conventional fixed deposit account, the rates are shown in the table below.
Kindly note that, the rate showed in the table below are only indicative. It means that, the rates may changes according to agreed profit sharing ratio. Alternatively you may want to look at this page.
Read the rest of this post » » »
[ Tagged In ] Affin Bank, Alliance Bank, AmBank, CIMB Bank, Comparison, EON Bank, Hong Leong Bank, HSBC, Islamic, Maybank, OCBC, Public Bank, RHB Bank, Standard Chartered
Fixed Deposit 1st September, 2010 | 301 Views | No Comments »
Fixed Deposit is known to be one of the most secure investment but with a lower return. If you like to invest your money in fixed deposit you may choose from the list below to maximize your return.
Fixed deposit rate is on the rise because Bank Negara Malaysia (BNM) started to raise OPR rate. The last rate increase was on July 2010.
The table below are the latest conventional fixed deposit rate as of September 2010. Alternatively you may look at this page.
Read the rest of this post » » »
[ Tagged In ] Affin Bank, Alliance Bank, AmBank, CIMB Bank, Citibank, Comparison, Conventional, EON Bank, Hong Leong Bank, HSBC, Maybank, OCBC, Public Bank, Rate, RHB Bank, Standard Chartered
Stock Market 30th August, 2010 | 119 Views | No Comments »
The Securities Commission Malaysia (SC), Bank Negara Malaysia and Bursa Malaysia recently introduced the Electronic Share Payment facility (e-share) for share transactions.
e-Share Payment is a service provided by all stockbrokers to pay the share sales proceeds directly into your bank account as well as providing an option for you to initiate payment for share purchases via electronic fund transfers. e-Share Payment eliminates the need to bank-in the cheques received from the sale of shares and also enable you to make online payments anytime from the comfort of your home.
Similar to eDividend launched in April this year, one of the main objectives of implementing e-Share Payment is to promote greater efficiency of the payment system which is aligned to the national agenda of migrating to electronic payment.
Read the rest of this post » » »
[ Tagged In ] Bank Negara, Bursa Malaysia, SC
Stock Pick 29th August, 2010 | 90 Views | No Comments »
Forward Thrust. Sunway posted 1H FY10 core earnings of RM77.8m, which were 14.2% above our numbers. We expect RM1bn in new jobs vs RM602m secured YTD. The potential jobs include SunCity projects, domestic Government jobs, Phase 2 of Arzanah, Indian roads and precast structures in Singapore. We revise our FY10-12 earnings upwards by 5%-7%. Maintain BUY, RM2.52 TP with Sunway as one of our top sector picks.
Above expectations. Sunway reported 2QFY10 revenue of RM509.2m (+35.2% y-o-y) and earnings of RM48.6m (+164.1% y-o-y) while cumulative 1H earnings stood at RM88.5m. After adjustments for derivative gains, gains from its Hanoi Hotel disposal and impairment losses on non-core assets, core earnings came in at RM77.8m, which was 14.2% above our estimates on an annualized basis (20.4% above consensus). Margins were higher at all levels y-o-y in the 1H period. Quarterly analysis. From a q-o-q perspective, revenue was up 1.5% but earnings surged 21.9%. PBT margins for 2Q rose to 11.6% (vs 10% in 1Q), mainly due to higher contributions from its associate and JV entities. The Arzanah Development (recorded as JV profits) hit 38.8% completion in Q2 compared to 27.6% in Q1.
Read the rest of this post » » »
[ Tagged In ] Sunway
