MALAYSIA SHARE

Date Stock Name Last Price

Price

Target Price Call Source

31/12/2014 ASTRO 3.02 2.98 SELL KENANGA

31/12/2014 AXREIT 3.61 3.27 SELL KENANGA

31/12/2014 CMMT 1.43 1.47 BUY KENANGA

31/12/2014 CRESNDO 2.28 2.46 HOLD KENANGA

31/12/2014 CRESNDO 2.28 2.35 SELL TA

31/12/2014 DRBHCOM 1.72 3 BUY PUBLIC BANK

31/12/2014 HARTA 7 8.04 BUY RHB-OSK

31/12/2014 IGBREIT 1.28 1.26 HOLD KENANGA

31/12/2014 KAREX 3.41 3.89 BUY RHB-OSK

31/12/2014 KLCC 6.63 6.39 SELL KENANGA

31/12/2014 KOSSAN 4.51 5.12 BUY RHB-OSK

31/12/2014 MEDIA 1.76 1.78 HOLD KENANGA

31/12/2014 MEDIAC 0.735 0.68 SELL KENANGA

31/12/2014 PAVREIT 1.46 1.31 SELL KENANGA

31/12/2014 STAR 2.35 2.26 HOLD KENANGA

31/12/2014 SUNREIT 1.54 1.57 BUY KENANGA

31/12/2014 SUPERMX 1.69 1.87 BUY RHB-OSK

31/12/2014 TM 6.85 6.26 SELL PUBLIC BANK

31/12/2014 TM 6.85 6.87 HOLD HLG

31/12/2014 TM 6.85 6.92 HOLD KENANGA

31/12/2014 TOPGLOV 4.6 5.06 BUY RHB-OSK

31/12/2014 UEMS 1.43 2.6 BUY PUBLIC BANK

Notable Trade Lembaga Tabung Haji increases stake in Gas Malaysia

Notable Trade Tai disposes of 1.74% of Masteel shares for RM3.3m

Notable Trade Pelikan's CEO continues to accumulate shares

Highlight LBS Bina declares special dividend of 6 sen

Highlight BLand's disposal of 70% stake in China unit aborted

Hot Stock MBM gains 3.4% after becoming top pick for auto sector

Hot Stock Benalec active, up on expectation of EIA approval for Tg Piai

Hot Stock Eversendai falls up to 25 % on doubtful outlook

Hot Stocks Plantation stocks dip although lower inventory seen driving CPO price

Acting CEO Leonard Ariff now MD of CCM

IJM Corp bags RM538.5m Puteri Cove Residences building job

Sia Teong Heng now holds dual positions in SBC

Brem turns Titi Kaya into an associate

Permodalan Nasional Bhd acquires 30% remaining stake in PHNB

Bina Puri fixes placement price at 50 sen

Sentoria plans RM800m project in Kedah

Harn Lern chairman's son Quek Kiong becomes its new MD

Paramount to buy Sepang land for RM227.4m

Kanger proposes raising RM100m with notes, diversifying into property sector

Crescendo 9MFY15 results below expectations

DEIA approval a step forward for Benalec

Kinsteels Pheng and sons quit Perwajas board

Changes in top positions at MISC

Noordin Abbas re-designated as Utusans managing director

Bullish outlook for glovemakers

EPF resumes picking up Perisai after heavy battering

LBS Bina continues to accumulate shares in ML Global Bhd, previously known as

VTI Vintage Bhd, a local-listed roof tiles steel trusses manufacturer.

Trading ideas: MMC, Cypark, Kinsteel, Perwaja

MMCs associate company Almiyah Attilemcania SPA (AAS) has been slapped

with a penalty of US$44.6mil by the lower court of Ghazouet in Algeria, over a

breach of foreign exchange regulations

As for Xidelang, the group has proposed a 70% capital reduction, by reducing the

par value of its shares to three US cents from 10 cents.

Cypark Resourcess net profit for 4QFY14 fell 28% on-year attributed to lower

revenue from environmental engineering projects, year-end provisions made for

bonus and other administrative expenses, as well as unrealised foreign exchange

differences.

Kinsteels group managing director and major shareholder Tan Sri Pheng Yin

Huah has quit as Perwajas managing director. This was after Kinsteels reduction

of equity interest in Perwaja to a 31.25% stake, and with its cessation of

management control of the latter, Perwaja is no longer a subsidiary of Kinsteel.

Stocks In Focus MY (Cypark, Kim Loong, Mah

Sing Grp) 02/01/15 Malaysia Daily Bulletin | 02 January 2015

By:

Cypark 4Q14 Net Profit Falls 28%

Environment technology company, Cypark Resources, saw its net profit in

4Q14 fall 28.2 percent from RM8.9 million in the same period a year earlier

to RM6.4 million while its revenue dropped 11.8 percent to RM50 million.

According to the company, the lower figures were mainly due to lower

revenue generated from environmental engineering projects as well as

provision made for year-end bonus, administrative expenses and unrealised

foreign exchange differences.

The firm said its renewable energy division, which saw revenue increase by

57.8 percent from RM21.2 million in the preceding financial year to RM33.5

million in the current financial year, was expected to contribute significantly

in the near future in view of the Governments push for renewable energy

usage.

Significance: Despite the fall in the companys 4Q14 net profit, its FY14 earnings

was up 11.2 percent from RM35.9 million to RM39.9 million and top line grew 7.4

percent to RM237 million.

Kim Loong 3Q15 Earnings Down 4%

Plantation group Kim Loong Resources recorded a 3.7 percent dip in 3Q15

net profit to RM15.2 million due to a RM3 million impairment of assets and

provision for the financial implications of a 1 December 2009 court case

against its subsidiary, Winsome Pelita, regarding their customary rights to

land which is expected to result in an unfavorable outcome for the firm.

On the other hand, revenue for the quarter rose 9.6 percent to RM179.4

million, attributable to higher palm oil prices and fresh fruit bunches (FFB)

production. However its earnings per share were 4.88 sen compared with

5.09 sen previously.

The firm said that its 3Q15 FFB production at 77,600 tonnes was 12 percent

higher compared with 3Q14. As most of the FFB produce was supplied to

mills within the group, its plantation operations did not face problems in

selling it. It added that 3Q15 revenue from its palm oil milling operations

increased by 9 percent, achieving profit of RM13.8 million.

Significance: The group expects palm oil prices to remain stable at its current

level for 4Q15 and its FY15 crude palm oil production quantity and FFB

production by its plantation operations to be at least 15 percent and 10 percent

higher respectively. Financial implications of the court case will also be

reassessed when a full judgement is obtained.

Mah Sing To Focus On Mid-Range Segment

Mah Sing Group expects to continue with its strategy of targeting the mid-

range market whereby 84 percent of its launches in 2015 will be priced

below RM1 million. Strong overall demand is projected for mass market

properties, reflected in the success of its launches in the mid-range, mass

market projects.

Demand stems from first time home buyers, upgraders, new household

formations and government incentives for first time home buyers under

Budget 2015. Its projects in the mid-range market will also benefit from

ongoing and proposed major infrastructure projects such as the Mass Rapid

Transit, Light Rail Transit and extension together with the proposed High

Speed Rail.

The group has also acquired landbanks in both Puchong and Seremban, to

target the mass market and upgraders. In addition, it acquired part of the

Sultan Salahuddin Abdul Aziz Shah Golf course in Shah Alam to cater to the

high-end market in the medium-long term. These acquisitions have a

collective potential gross development value of approximately RM19.3

billion.

Significance: Mah Sing has managed to deliver its various key performance

indicators in terms of sales and financial performance, with RM2.5 billion of sales

in 9M14, a 25 percent compounded annual growth rate in revenue and net profit

over the last five years and a 15 percent return on equity on average.

Insider Asias Stock Of The Day: Tasco

Tasco is a logistics player offering logistics solutions covering air, sea and land

transportation, for both domestic and international shipments. The company has

been established since 1974 and was formerly known as Trans-Asia Shipping Corp

( Financial Dashboard). It has 25 logistics centres with over 1,500 employees in

Malaysia.

Currently, Tasco derives 40-50% of its revenue from the contract logistic division

which involves activities such as warehousing services and haulage transportation.

Moving forward, future earnings growth will likely be underpinned by the

companys expansion into the e-commerce segment.

Indeed, over the longer run, e-commerce is expected to overtake the traditional

brick-and-mortar retailing business model. With this secular trend change in the

logistic industry, retail companies would demand more sophisticated distribution

and warehousing systems from domestic logistic companies.

Tasco posted a 26.5% rise in revenue to RM559.6 million for FY March 2014

while net profit was up 5.2% to RM30.4 million. For 1H2015, revenue rose 15.8%

to RM257.4 million while net profit surged 42.8% to RM18.1 million. The

company has consistently chalked up double-digit ROE for the past three years.

Tasco has a solid balance sheet with net cash of RM13.8 million as at end-

September 2014. The company paid dividends of 9.01 sen in FY2014 which

translates into a yield of 3.48% at current market price of RM2.59.

The stock is currently trading at a price-to-book ratio of 0.9 times and a trailing 12-

month P/E ratio of 8.3 times. Tascos valuations are cheaper than its peers. Freight

Management Holdings Bhd ( Financial Dashboard) is trading at a price-to-book

ratio of 1.6 and a trailing 12-month P/E of 11.9 times while Century Logistics

Holding Bhd ( Financial Dashboard) is trading at price-to-book ratio of 0.9 and

trailing 12-month P/E of 8.7 times.

Stocks With Momentum: Evergreen Fibreboard

Over the past week, Johor-based Evergreen Fibreboard saw sharply higher trading

volume, which drove its share price to rally 5.1% to a high of 62.0 sen, before

paring back gains to close at 60.5 sen on Wednesday.

Evergreen Fibreboard produces wood-based products such as medium density

fibreboard (MDF), particleboard and a wide range of wooden furniture. The

company also manufactures downstream products such as paper, veneer, printed,

melamine board laminations and knock down furniture.

It operates seven manufacturing plants in Malaysia, three in Thailand and one each

in Indonesia and Singapore. Annual production capacity for its medium density

fibreboard (MDF) and particleboard operations exceed 1.30 million cubic meters.

The companys products are mainly exported to Middle East and Southeast Asia.

Over the past two years, the company has been experiencing consecutive annual

decline in revenue, from RM1.06 billion in 2011 to RM938.7 million in 2013.

Following weak demand from the Middle East, a supply glut in fibreboard and

wood products, and rising production and logistic costs, Evergreen fell into the red

last year, for the first time since its listing in 2005.

It posted net losses of RM42.8 million in 2013, from net profit of RM32.2 in 2012.

This trend continued into 2014, with net losses of RM14.2 million so far for the

first nine months of 2014. At its peak, the company chalked up net profit of just

under RM120 million in 2007 and 2010.

Evergreens balance sheet has a net gearing ratio of 32.5% with its last dividend

paid of 1 sen per share in 2012. No dividends were paid in 2013. Although the

stock is trading at just 0.4 times book, Evergreens fundamentals appear unexciting

given the uncertain earnings outlook. The Edge Research rates it a Fundamental

Score of 0.75 out of 3.0.

Stocks With Momentum: Homeritz Corp

Homeritz, a manufacturer of upholstered home furniture, was previously

highlighted as Insider Asias Stock of the Day on November 20 at 80 sen.

After a slight decline following the subsequent broad market sell-off, the stock has

been on an uptrend again since mid-December, accompanied by rising volume, and

closed at 86 sen on Wednesday.

A net exporter with products exported to over 40 countries including Asia,

Australia, Europe and the US, Homeritz offers investors exposure to the

strengthening US dollar (USD) with some 97% of its trade receivables

denominated in USD.

Revenue for the company has grown from RM89.8 million in FY Aug 2011 to

RM112.9 million in FY2013. In the same period, net profit increased an outsized

40% from RM10.8 million to RM15.1 million while EBITDA margins expanded

from 15.9% to 20% due to economies of scale, increased productivity and

efficiency.

For FY2014, the company posted revenue of RM127.2 million, boosted by

recovery in demand from its key export markets and the strengthening USD. Net

profit was RM20.2 million, a significant 33.9% increase from the previous year.

Homeritzs valuations are fairly attractive. The stock trades at a price to book ratio

of 1.85 times with a trailing 12-month P/E ratio of only 8.5 times. Return on equity

(ROE) is high at 24.5%. It has a strong balance sheet with net cash of RM49.3

million, equivalent to 24.6 sen per share or 28.6% of its share price.

Last but not least, Homeritz offers good yields. The company has a minimum 40%

dividend payout policy. For FY2014, Homeritz has proposed a final dividend of

3.1 sen. This brings total dividends for the financial year to 5.1 sen per share up

from 3.75 sen in FY2013 or about 50% of net profit. This earns shareholders a

substantially higher than market average net dividend yield of 5.9%.