We are revising our rating definitions by reducing the
threshold from ± 15% to ± 10% for a HOLD rating based on expected 12-month
total return (capital return + net dividend yield). Bear in mind that rating definitions are just
a guide, as different research houses have different definitions, and many are
not absolute but tied to expected benchmark returns which are variable. Arising from this change in rating
definition, we are downgrading Maxis and Top Glove from HOLD to SELL..
Global demand continued to falter with Malaysian
exports in July falling by 1.9% y-o-y after rising by 5.4% in June. The contraction
is attributable to the economic recession in Europe and the slowdown in China
Other reports
Other Malaysian news
§ Air Asia : Close to new major Airbus deal
§ IJM Land
§ Gas Malaysia
§
TSH: Uphill
battle for Pontian United
§ Perwaja: Clinches deal
§ TRC: Wins RM284m construction job
§ Bolton : Plans to divest
retail assets
§
Lion
Diversified: Creditors hold key to its fate
§ Gadang: Hands over Runway
3 at KLIA2, upbeat on winning more contracts
§ Securities Commission: Launches Malaysian
retail bonds and sukuk framework
§ Banking:
Banks may reduce derivative trading with
US due to new rules
§ Oil
& Gas: Petronas beefing up capex
§ Port:
Penang cargo tonnage dropped 17%
§ Property:
Oversupply of residential property may
slow down market
§ REIT: Tax break for M-REITs
§ EPF: Expects >10% returns from Battersea
§ Economy: Malaysia
§ Economy: Malaysia-China
trade to hit US$100bn
Global news
§ US: Job
growth cools
§ Europe : Hollande
outlines austerity plan
§ Europe : Greek
coalition partner says no decision taken on spending cuts
§ China
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