Highlights of the day
§ Shin Yang Corporation Bhd (Stock Idea): Could be the start of a turnaround (TRADING BUY, TP: RM1.00) [download report]
Shing Yang Shipping Corp (SYS Corp)’s share price has halved from its IPO price of RM1.05 due to weak industry fundamentals and the liquidation of competitor Swee Joo. However, SYS Corp’s earnings have been more resilient than Swee Joo’s thanks to its strong parentage, and the recent jump in MBC’s share price could indicate an industry turnaround. At current price, SYS Corp offers a dividend yield of 3.6% and it could potentially double to our target price of RM1.00.
Other reports
§ Newz Bits [download report]
Other Malaysian news
§ Sime Darby: Sets up company in China
§ AMMB: Takaful JV with Friends Life
§ Gamuda: Roped in for Gemas – Johor Bahru rail deal
§ DRB-Hicom: To take Pos M’sia into new areas
§ Kumpulan Perangsang Selangor: Mulls plan to take KHSB private
§ JAKS Resources: Proposes 2 partners for Vietnam
§ Can-One: To revamp Kian Joo’s board?
§ XiDeLang: Confirms major shareholder not selling
§ Inari: Expects Amertron to triple revenue
§ Economy: International reserves at RM423.4bn
Global news
§ US: Consumer credit increases by most in 10 years
§ Europe : Budget rules may be fast-tracked
§ Europe : Banks’ overnight deposits at ECB increased to record high
§ Europe : German note yields fall to record after talks
§ Europe : German industrial output drops in sign growth stalling
§ Europe : German exports rebounded in November, bolstering economy
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