Highlights of the day
Dijaya’s share price has been sold down amidst various
concerns, just as earnings are about to take off after an aggressive property acquisition
drive. If, as we believe, the Malaysian
property sector resumes its run in 2013 after consolidating this year, Dijaya
shares could be re-rated to our target price of RM1.57 in 12 months’ time for a
51% capital gain.
Malaysian leading indicator for August grew marginally
slower at 2.0% y-o-y after growing 2.3% in July. At the same time, the August
coincident indicator jumped back up by 1.6% y-o-y after barely increasing in
July. The lagging indicator also grew faster in the same month compared to the
previous one. While the leading indicator suggests that the economy may grow
only slowly in the future, both the coincident and the lagging indicators hint
that the worst may be over.
Other reports
Other Malaysian news
§
Bumi Armada:
Gets
jobs worth RM147m
§
Sunway REIT: Targets
RM7bn asset size in 5 years
§ TH
Plantations: Plans Sarawak
acquisitions
§ Lion
Industries: To buy firm for RM24m
§
Naim
Holdings: Named
for MRT package S2
§ Daiman:
Unit invests in Chinese housing fund
§ Amcorp
Prop: Expects RM27m from land sale
§
Automotive: No excise duty cuts on cars
§ Property:
PHB upbeat on City Hall nod for Bangsar project
§
Telecommunications: 4
telcos shortlisted
§
Timber: RM1.04bn
for forest plantation scheme
Global news
§ US
§ US: Home
sales rising to two-year high spur growth
§ US: Markit
- October factory activity edges up, growth still weak
§ Europe: Greece
§ Europe : Euro-area recession deepens as manufacturing
shrinks
§ Thailand
