News Bits | 22 August 2012

Highlights of the day

§  Integrax (Stock Idea): New era with new board! (Buy, TP: RM1.69) [download report]

Integrax Berhad is the owner of Lekir Bulk Terminal which together with Lumut Maritime Terminal (LMT) forms Lumut Port in Perak. Through its associate company, it is also engaged in sales of industrial properties in Lumut Port Industrial Park (LPIP). The company recently sealed a 25-year coal contract with TNB which is expected to increase the coal throughput by 50%. After solving the shareholder issues which happened in the past, Integrax is now focusing on growing its core port business. We therefore recommend a BUY with target price of RM1.69 based on 12.5x PER of 13.5sen EPS. (refer to report for details)

Other reports

§  Newz Bits [download report]

Other Malaysian news

§  Dialog: Shareholders’ pact with CAO lapses

§  Felda Global: Not in talks with Sarawak Plantation

§  AirAsia: AirAsia X passenger growth rises 29% in Q2

§  Guan Chong: Won’t proceed with listing in Singapore

§  KNM: Pins hope in UK job

§  KSL: Allocates RM200m to increase Klang Valley landbank

§  Wellcall: Believes expansion is timely

§  Asia Media: Ready to broadcast on trains and taxis

§  IPO:  Westports in US$1bn IPO bid?

§  Oil & Gas: Ekuinas said to have bought Omni

§  Property:  Groups want RPGT to remain status quo

§  Automotive:  Car prices in Malaysia to drop gradually?

§  Automotive: Energy efficient vehicle hub plan

§  Economy: GDP seen growing 4% - 5% until 2015

Global news

§  US: Consumer sentiment unexpectedly rose in August

§  US: Leading index points to continued expansion

§  Taiwan: Outlook cut as economy contracts more than estimated

§  Thailand: Thailand signals slower growth as export outlook wanes

§  Singapore: July exports rise more than estimated on electronics

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