Sentoria Group Bhd, a property developer, general & civil engineering, and hotel & theme park operator is scheduled to be listed in Main Market on 23rd February 2012.
The Initial Public Offering (IPO) consists of public issues of 60 million new ordinary shares at an IPO price of RM0.87 per share at RM0.20 par value.
Out of 60 million shares, 30 million shares are for private placement to selected investors, 20 million shares for application by Malaysian public and the remaining 10 million shares are made available to directors, employees and business associates of Sentoria Group Berhad.
On top of that 40 million existing shares are for sale to the selected Bumiputera investors approved by MITI.
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China Stationery Limited, an integrated plastic stationery China-based company is scheduled to be listed in Main Market on 27th July 2011.
The IPO consists of public issue of 90 million ordinary shares at an IPO price of RM0.90 per share with SGD0.001 par value. Out of this, 60 million shares are allocated to Malaysian public, and the remaining 30 million shares are allocated for private placement. On top of that, 133 million shares are for sale to selected investors.
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2011 advertising expenditure (adex) grew less than expected, largely due to softer growth on the TV segment. However, other media platforms performed well. The newspaper segment enjoyed robust advertising spending by retailers, hypermarkets, telcos and property developers, driven by improving consumer sentiment.
OSK maintains OVERWEIGHT on the sector as they belief that 2012 will be an exciting year for media players in light of the upcoming 2012 Olympics and Euro 2012, as well as the impending General Election. Hence, OSK is keeping their adex growth forecast at 2x of GDP growth forecast of 5.2% with Media Chinese as top pick.
OSK also continues to believe that domestic consumer spending will remain healthy given the Government’s ongoing initiatives to turn the country into a highincome nation by 2020.
Below are target price and rating for selected stocks in Media Sector.
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OSK maintained NEUTRAL on the construction sector despite expectations of stronger contracts in 2012. The elevated portion of the MRT SBK line would already make up for all domestic jobs awarded
last year.
Given that the construction sector has a relatively high beta, OSK advised to remain cautious for now. In the last three major market down cycles in 1997-98, 2000-01 and 2008-09, the KLCON Index underperformed the KLCI by 11-15%. OSK’s top large cap pick is Gamuda (BUY, FV: RM3.94) while for the small caps is KimLun (BUY, FV: RM2.15).
Below are the target price, market capitalization and rating for selected stocks in construction sector.
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OSK has a Neutral outlook on the Malaysian market going into 2012 as the combination of uncertain growth outlook in the US and Asia coupled with a possible recession in Europe cloud the prospects for strong earnings growth locally.
OSK advises investors to stay cautious into mid 2012 and focus on Defensive sectors such as Consumer, Telco, Healthcare and Media with KLCI fair value of 1466 pts.
Investors are advised to Trade on Cyclical sectors such as Banks, Oil & Gas and Construction as the market dips or rallies strongly. The trading strategy to adopt is, buy when the KLCI falls towards the 1300 pts and sells when the KLCI rises towards the 1500 pts.
The tables below are OSK’s top Big/Mid/Small Caps Stocks with the target price & rating for 2012.
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