OSK DAILY RESEARCH – PICK OF THE DAY: MALAYSIA STEEL WORKS

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OSK

Monday, 03 June 2013

Daily Recommendations
buy buy FAIR VALUE MYR 2.80 Pestech International
buy buy FAIR VALUE MYR 3.20 CB Industrial Product Holding
buy buy FAIR VALUE MYR 10.70 Sime Darby
buy buy FAIR VALUE MYR 2.50 Wah Seong Corp
buy buy FAIR VALUE MYR 6.86 Malaysia Airports Holdings
sell sell FAIR VALUE MYR 3.30 MNRB Holdings
sell sell FAIR VALUE MYR 1.35 TH Plantations
buy buy FAIR VALUE MYR 0.40 SKP Resources
Featured Reports
Malaysia Steel Works – Slightly Better In 1QFY13
buy FAIR VALUE: MYR 1.08

Though MSW’s earnings of MYR3.6m in 1QFY13 were no cause for excitement, the market may regard it as an early indication of a possible turnaround in the local steel industry. We believe the rollout of mega-projects in the country may gather steam and lift steel demand, while new infrastructure and housing projects could boost market sentiment. In view of that, and investors’ escalating risk appetite…

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Latest Reports for the Day
Banks – 1QCY13 Report Card – No Major Surprises

The 1QCY13 reporting quarter yielded no major surprises. We continue to expect a pickup in earnings momentum ahead, backed by resilient household…

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Pestech International Bhd – A Proxy To Malaysia’s Power Infrastructure Developments

Our recent meeting with Pestech’s Management reinforces our positive view on the company. In this report, we review some of its key…

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COMEX Gold Futures – 3 June 2013

False Breakout At USD1,400 Stay short below USD1,400. A new leg of downward move may kick off after the false breakout at the…

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CB Industrial Product Holding – Stronger Quarters Ahead

CBIP’s 1QFY13 net profit was in line with our and consensus FY13 estimates, comprising 20-22% of FY3 forecasts. We consider this to be in…

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Sime Darby – Balancing The Positives and Negatives

Sime Darby’s 9MFY06/13 earnings were within our, but below consensus forecasts. Management remains fairly upbeat on the whole, expecting…

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Wah Seong – The Sustainability Angle

In a press report, Congo’s agriculture minister was quoted as saying that Wah Seong plans to develop an agro-industrial complex…

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