Despite the rather moderate earnings growth projections for 2011 based on a moderate economic growth forecast, media sector upgraded from Neutral to Overweight as the thematic factors such as an impending general election and influx of foreign investors would be the sector’s key upside catalysts in 2011.
Media Chinese (MCIL) has an attractive valuation proposition as the stock is currently trading at below 10x PER on CY11 EPS. Given that its largest shareholder owns some 55% of MCIL shares, as well as the stock’s attractive valuation, there is a strong possibility of MCIL being taken private.
Nevertheless, Media Prima (MPR) is good choice for investors seeking the widest exposure in the media sector, backed by the group’s position as the only integrated media player in Malaysia with exposure to all media platforms.
Despite the windfall from its special dividend last year, the medium and long term prospects for Star remain somewhat unattractive, especially if one considers its relatively expensive valuation. As such, Star has NEUTRAL recommendation.
Below are target price for selected stocks in Media Sector.
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Maybankard 2 Cards offers two credits cards together to a card members with one signup. They will issued an American Express and a MasterCard credit card together and have a choice of Gold and Platinum.
With Maybankard 2 Cards, card members will enjoy the lowest finance charge of 8.88% per annum on outstanding balance and only a RM50 service tax charge for the two cards.
The other main benefits of Maybankard 2 Cards are;
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Century Software Holdings Initial Public Offering (IPO) received an overwhelming response with its Malaysian public portion of 23 million shares. It was oversubscribed by 23.99 times. The IPO attract 11,746 applications or 216.1 million shares. For the Bumiputera portion, a total of 5,472 applications for 81.2 million shares were received which represents an oversubscription rate of 17.79 times. The Public Issue and Offer for Sale exercise comprises;
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The share prices of O&G stocks are undergoing a re-rating, largely fuelled by positive market sentiment and strong news flow. Going forward, partnerships or actual contract awards will be the main ‘push’ factor for further share price upside and the lucky companies will continue to outperform those which lack news flow. Average sector PER valuation is raised from 13.2x to 16.6x. Maintain Overweight on the sector, with top picks being Kencana Petroleum, Alam Maritim, Petra Perdana and Petra Energy.
Below are target price for selected companies in Oil & Gas Sector.
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The Malaysian Armed Forces Fund, better known as Lembaga Tabung Angkatan Tentera (LTAT) members will receive a 14 percent dividend for financial year end 2010.
LTAT recorded an unaudited total income of RM747.5 million in 2010 and it is the highest in its 38-year history.
The 14 percent dividend comprise 7 per cent dividend, 1 per cent bonus and 6 per cent special bonus in the form of unit trusts.
The total payout to LTAT members is RM616.3 million, a 7.2 per cent increase over the previous year’s RM575.2 million.
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