Highlights of the day
§
SapuraKencana
Petroleum (Results Review): 9MFY13:
Within our but below market's (Maintain HOLD, TP: RM2.46) [download report]
9M FYE Jan 2013 reported PATAMI of RM400m which rose
71% y-o-y came in within our expectation or 75% of our full-year net profit
forecast. However 9MFY13 net profit only accounts for 69% of market’s
estimates. Excluding forex loss (RM49m) and one-off reserves arising from
additional investment in a subsidiary (RM42m), PATAMI came in at RM407m which
is also within our expectation. Y-o-y comparisons are pointless because 9MY13
earnings consolidated KPB results which was absent in the previous year.
Maintain Hold with a target price of RM2.46 based on 20x CY13 EPS of 12.3sen.
Other reports
Other Malaysian news
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Axiata Group: Dialog buys 26% of DCL
§ Time dotcom: To keep DiGi stake
§
Mah Sing: To raise RM400m
§ Dijaya Corp: Yau set to helm Dijaya
§ Pelikan:
Leverages on CSL for growth in China
§ Pacific
& Orient: To dispose of insurance arm
§ Kumpulan
Jetson: Clinches RM29.2m subcontract
§
IPO: ELK-Desa IPO oversubscribed 11.6 times
§
O&G: Petronas bets big on Canada
§
Plantation : Malaysia
§ Port: Bintulu Port unit to raise RM1.35bn
Global news
§ China
§ Japan
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