News Bits | 8 Nov 2012

Highlights of the day

§  Axiata (Company Update): 2012 Investor Day (Maintain HOLD, TP: RM5.22) [download report]

We came away from Axiata’s 2012 Investor Day feeling optimistic with its vision and long-term strategy which focuses in exploring revenue growth opportunities as well as cost management. Although our target price of RM5.22 is lower than the current share price by c.10%, we believe that its net dividend yield of c.4% will continue to support its share price. Maintain HOLD on Axiata with a SOP-based target price of RM5.22.

 

Other reports

§  Newz Bits [download report]

 

Other Malaysian news

§  Sime Darby: JV to build education hub in Johor

§  Gamuda: MD Lin may stay

§  Tan Chong: Unit aims to increase bus sector market share to 40%

§  HSL: Secures RM39.5m school contract

§  Tiger Synergy: Nadzmi ups stake to 8.91%

§  Heitech Padu: Gets RM118m NRD jobs

§  Ireka: Secures RM69m MTD job

§  PJBumi: Gets nod to sell stake in Alam Flora to DRB-Hicom

§  Banking: Asean banking sector integration draws near

 

Global news

§  US: Obama first president since FDR re-elected with 7.9% jobless

§  US: Consumer credit rose more than forecast in September

§  Europe: Samaras wins approval of Greek austerity in race to secure aid

§  Europe: German-led bloc seeks to scale back ECB bank supervisor plan

§  China: Communists gather in Beijing to appoint new leadership

 

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