While markets did not rally as much as expected in 1H2011, OSK are keeping our view of an election-fuelled rally towards year-end, bringing the KLCI to 1680-pt target.
Banks, Oil & Gas, Construction, Property & Healthcare/Media remain OSK Preferred sectors. OSK Top Buys are generally extracted from these sectors.
OSK note that their Top Buys are not cheap but they continue to promote these stocks on account of their lower risk profile and the cautious mood in the market.
Below are OSK Top Buys for 2H2011
Top Buys for Big Caps Stocks
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Petroliam Nasional Berhad (Petronas) was incorporated on 17 August 1974 as the national oil company of Malaysia to own and control of the petroleum resources in the country. It has grown into a fully integrated oil and gas corporation. In 2010, Petronas ranked 107 in the FORTUNE Global 500 largest corporations in the world.
Petronas revenue, profit and assets grows tremendously for the past 10 years. Petronas also pays a substantial amount of dividend to the government. Starting from 2013 onwards, they will pay 30 percent of net profit to government as dividend .
The table below is the financial summary of Petronas (Revenue, Profit & Assets Size) and the amount dividend they pay to government since year 2000.
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FTSE Bursa Malaysia KLCI Index (FBMKLCI) component stocks is due for mid-year review. The result will be out soon and it will be effective starting from 17th June 2011.
In this review, MMHE Holdings was replacing Malaysian Airline System (MAS), which has fallen below the Top 40 stocks by market cap in Malaysia.
The table below are the new component stocks for FBMKLCI, its Adjusted Market Capitalization, Weightage and Investiblity Weight.
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Every 3 months since March 2010, EPF reveal its top 30 equity investments in Bursa Malaysia. The aim for this is to promote greater transparency and to reassure members that investment undertaken are in the best interest of growing their retirement savings and in accordance to best practices in investment and governance.
The table below are the Top 30 Equity Investments in companies listed on Bursa Malaysia as of 31th March 2011.
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Given what may still be a lackluster broader market in June, OSK is focusing on a number of situational stocks that should see better newsflow during the month.
First up, UEM Land who will likely join the KLCI before end June. Second, KimLun Corporation which may see a pick up in newsflow on Iskandar Malaysia during the month. Next, Pos Malaysia which could see the sale of Khazanah’s stake completed in the 3rd week of June coupled with details of what DRB-Hicom plans to do with the company. Finally to round it off, 2 smaller banks, namely RHB Cap and Alliance Financial Group that should see sentiment on improved M&A rumours.
The table below are the target price for OSK’s June 2011 top picks.
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