OSK remain OVERWEIGHT on the O&G industry and Buy calls on both Coastal and Dayang.
OSK like Coastal for its mergers and acquisition story. OSK re-iterate their view that it would be a matter of time before Coastal finds itself a suitable partner for M&A purposes.
OSK also like Dayang due to it’s stable, recurring income. This is because oilfield and platform maintenance are all-year-round jobs and having a slice of this business pie is always better than getting one-off jobs as they provide assurance of future earnings sustainability
Below are the target prices and ratings for selected Oil & Gas stock.
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The Fortune Global 500 is an annual ranking of the top 500 corporations or companies worldwide as measured by revenue. The list is compiled and published annually by Fortune magazine.
The list was first publish in 1989 but only cover US industrial companies. In 1995, the list changed to include all companies & sectors.
The latest 2011 ranking was published on 25th July 2011. Wal-Mart Stores managed to retain their top spot. There is only one (1) Malaysian company managed to be in the list of 2011 Fortune Global, namely Petronas at 86th position.
The table below is top 20 of Fortune Global 500.
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The global sell-off in equities has definitely raised the risk of an early recession. While it’s still early days yet to say that a bear market is taking hold, OSK feel that it is prudent to highlight a list of alternative defensive stocks for the longer run that would benefit in the event a recession does set in early.
These stocks will benefit from a drop in incomes and commodity prices and are generally more inward looking as OSK believe domestic incomes should be more resilient.
The tables below are OSK’s alternative stocks which contains, target price, rating & the reason for the selection.
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For financial end of 31st March 2011, ASM declared 6.38 sen dividend to the unitholders. In the same period, 549,683 peoples subscribe to ASM down from 551,918 in 2010. The total fund size was RM11.85 billion up from RM11.21 billion in 2010.
In summary, ASM invest 71.78 percent of the total funds size in Malaysia Stock Market up from 68.92 percent in 2010. The remaining was invested in money market and others.
The following table show 20 largest stock portfolio held ASM, unitholder distribution and investment income for financial end of 31st March 2011.
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AmBank is having a new promotion where AmBank credit card holders will enjoy 20% cash rebate on groceries, petrol, departmental store and pharmacy spending on Saturday and Sunday.
The promotion is running from 1st June 2011 to 31st March 2012. The promotion open to Principle Credit Card holder with the exception of PrePaid MasterCard and card holders whose card accounts have been suspended, cancelled or terminated.
To participate, you have to register your AmBank credit card via SMS. To register, send SMS through your mobile number by typing “cashback {space} 16-digits card no” to 36663. This is one time registration and will be charged 30 cents.
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