Highlights of the day
§
IOI
Corporation (Results Review): 1QFY13:
Below expectations on seasonality (Maintain HOLD, TP: RM4.72) [download
report]
IOI Corp’s 1QFY13 adjusted net profit came below
expectations and it made up of 16% of house estimate and 17% of market
consensus. Traditionally, 1Q results come below expectation on seasonality. An
adjustment was made for a massive translation gain on foreign currency
denominated borrowings. The adjusted net profit increased by increased by 34%
y-o-y. Contributions from all segments improved, except for plantation.
Maintain HOLD with TP of RM4.72.
Other reports
Other Malaysian news
§
CIMB: To
fund big deal
§ DRB-Hicom: Mitsubishi’s collaboration with Proton is over
§ Mah Sing: Sales target on track
§ Scope Industries: Matang launches RTO
§
Scomi
Engineering: Tracking KL monorail system
§ Automotive: Mitsubishi launches Mirage, plans Malaysia
§ Automotive: Vehicle sales accelerate 21% in October
Global news
§ US
§ Europe: France
§ Japan
§ Thailand
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