Highlights of the day
We initiate coverage on DRB-Hicom Bhd (DRBH),
recommending a Buy with target price of RM3.45. We see strong growth potential
in its automotive division mainly from its collaboration with Volkswagen and
the inclusion of Proton Holdings under its large stable of companies. Although
contribution from the services and property, asset and construction (PAC)
segments are relatively smaller, these businesses will provide the Group with
stable recurring income.
Other reports
Other Malaysian news
§ RHB Capital: Plans to boost customer base
§ MAHB:
Airport charges won’t be any more taxing
§ MRCB: In line for RM1bn MRT job
§ Crescendo: To launch Johor township with GDV of RM3bn
§ CMS: CMS Cement says it will not raise price
§ KYM:
Steel mill project needs US$5bn funding
§
Oil &
Gas: Petronas raises Progress Energy offer after rival bid
§ Building Materials: MBAM urges Government to check on possibility of higher
cement prices
§ Construction:
Firms keen on high-speed rail job must bid via tender exercise
§ Construction: Ipoh-Padang Besar EDTP about
85% complete
§ Logistics:
‘Privatisation vital for long-term survival of Penang Port
§ Steel: M&As can help steel makers better tap strong demand in Asean
§ Plantation
Global news
§ US
§ US
§ China
§ South
Korea : Manufacturer
confidence drops to 3-year low on Europe woes
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