Highlights of the day
§
Hartalega
Holdings (Results Review): 1HFY13
results came in within expectations (Maintain HOLD, TP: RM4.34) [download
report]
Hartalega’s 1HFY2013 net profit of RM111m (+10% y-o-y)
came in within expectations, making up 50% of our and consensus full-year net
profit forecasts. However, Hartalega’s
growth trajectory is already reflected in its financials which appears fully
valued. The stock is currently trading at 16.4x CY12 and 14.8x CY13 EPS,
compared to average net profit growth of 11%. Maintain Hold with target price
of RM4.34 based on 13x CY13 EPS.
Other reports
Other Malaysian news
§
Boustead: Acquires
Jalan Cochrane land for RM107m
§
Sime Darby: Sreesanthan
not seeking re-election as director
§ Telekom: Ink cloud
services pact with TeAM
§ YTL Corp: ERL to klia2 on track
§ UEM Land
§ QSR: Privatisation passed,
capital repayment by end-Dec
§
icapital.biz: Tan
Teng Boo opposes attempt to change board
§ Masteel: JV receives land offer in Johor
§ Tiger Synergy: Hayat Maya expected to
build up stake
Global news
§ US: Job
openings decreased by 100,000 in September
§ Europe : Hollande
raises French sales tax, signaling economic shift
§ Europe: Greece
§ Japan
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