TH Plantations Bhd
(March 6, 34 sen) 
Upgrade to hold with an unchanged target price (TP) of 35 sen: Despite a small haircut, we are generally positive on TH Plantations Bhd’s (THP) proposal to dispose 2,307ha of planted oil palm estates for RM62 million in cas...

Disposing of estates seen to help TH Plantations deleverage

Sime Darby Bhd
(March 5, RM2)
Maintain buy with target price of RM2.58: Based on our hypothesis, Sime Darby Bhd shareholders could potentially be rewarded with a special dividend per share (DPR) of up to 25 sen (100% DPR), should it sell its 30% stake in Tesco Store...

Sime Darby shareholders may get special dividend with Tesco stake sale

Yinson Holdings Bhd
(March 4, RM7.03)
Maintain buy with an unchanged target price of RM10.10: We are positive on Yinson Holdings Bhd’s revised proposal to acquire Ezion Holdings Ltd, which in essence is a much improved deal (for Yinson) versus its earlier version (t...

Yinson’s new Ezion deal seen earnings accretive

Allianz Malaysia Bhd
(Feb 19, RM15.34)
Upgrade to buy with a higher target price of RM18.20: With Allianz Malaysia Bhd’s share price having fallen 13% since we downgraded it to “hold” on Jan 6, now is an opportune time to pick up the stock again, in our view. We rev...

Allianz Malaysia expected to have a good 4Q for FY19

Malakoff Corp Bhd
(Feb 6, 84.5 sen)
Maintain buy with an unchanged target price (TP) of RM1: With the completion of the Alam Flora and Macarthur transactions, we expect net gearing to fall to a palatable around one time in end-2019. An affirmation would thus allevia...

Macarthur, Alam Flora transactions likely to address Malakoff’s gearing

Yong Tai Bhd
(Jan 23, 15 sen)
Maintain hold with a lower target price (TP) of 16 sen: We are positive on the news that Yong Tai Bhd will build its own international cruise terminal (ICT), which ought to boost Encore Melaka’s utilisation rate and sale of Impression C...

International cruise terminal job seen a positive for Yong Tai

Gamuda Bhd
(Jan 16, RM4.05)
Upgrade to buy with a higher target price (TP) of RM4.50: Gamuda Bhd’s replenishment prospects are improving with the project delivery partner (PDP) agreement for the Penang Transport Master Plan (PTMP) expected to be finalised soon. We u...

Gamuda’s job replenishment prospects seen to be improving

Mynews Holdings Bhd
(Jan 13, 93.5 sen)
Maintain buy with an unchanged target price (TP) of RM1.35: Mynews Holdings Bhd will focus on growing its customer reach and driving demand in the ready-to-eat (RTE) segment in the near term through higher store openings, while...

Mynews expected to focus on growing customer reach, RTE segment

Real estate investment trust sector
Maintain neutral: As we anticipate major pipelines to be limited in 2020, we continue to favour Malaysian real estate investment trusts (M-REITs) that have prime malls and sizeable assets with long-term tenants, which are seen to underpi...

Growth of REITs expected to be largely organic this year

Wah Seong Corp Bhd
(Jan 8, RM1.25)
Maintain buy with an unchanged target price (TP) of RM1.50: A key target of Wah Seong Corp Bhd this year is to strengthen its order backlog and balance sheet. It can realistically double its backlog to RM2 billion on the back of it...

Wah Seong expected to ramp up orders with strong tender visibility

Prime Minister Datuk Seri Anwar Ibrahim described foreign media reports regarding fuel subsidy cuts as unethical, and said that no final decision had been made at the Cabinet level regarding the issue.

Anwar lambasts foreign media over reports on fuel subsidy cut

The UK’s Labour Party is set to impose value-added tax (VAT) on boarding fees as well as private education in the country if it wins the next election, Financial Times (FT) reported, citing party insiders.

UK’s Labour to impose VAT on boarding fees, private education — FT

Kedah Menteri Besar Datuk Seri Muhammad Sanusi Md Nor apologised to Prime Minister Datuk Seri Anwar Ibrahim and Cabinet ministers who attended the state-level Madani Aidilfitri celebration on Saturday night.

Kedah MB apologises to Anwar, Cabinet over ‘inappropriate remarks’

The federal government has agreed in principle to proposals to convert agricultural land within the Muda Agricultural Development Authority (Mada) area for industrial and commercial development.

Anwar says nod given to conversion of Mada land for industrial, commercial development 

US Treasury Secretary Janet Yellen acknowledged sharp moves in the value of the yen this week, even as she declined to say whether Japan had intervened to support the currency.

Yellen counsels caution on currency intervention after yen surge

Labour wins in the UK’s two biggest cities completed a string of local election successes by opposition leader Keir Starmer that showed his party firmly on course for victory at a general election later this year.

Labour mayor wins cap triumphant election run for Starmer

Paytm appointed new business executives as the troubled fintech firm’s chief operating officer resigned.

Paytm appoints new executives as COO resigns

Warren Buffett said he expects the US government to increase taxes to tackle widening fiscal deficits rather than reduce spending.

Warren Buffett says taxes may rise to offset widening US deficits

Warren Buffett assured Berkshire Hathaway shareholders on Saturday that the executives expected to succeed him were ready for the job, and he heaped praise on Apple although Berkshire trimmed its position in the iPhone maker.

Buffett says Berkshire in good hands, lauds Apple despite lowering stake

China's Ping An Insurance Group Co, the biggest Asian investor in HSBC did not support reappointing chief executive Noel Quinn as a director to the banks board at the its shareholder meeting, a source familiar with the matter told Reuters on Saturday, as the investor voted against such a move.

Ping An votes against reappointment of HSBC CEO as director — Reuters

China's Ping An Insurance Group Co, the biggest Asian investor in HSBC did not support reappointing chief executive Noel Quinn as a director to the banks board at the its shareholder meeting, a source familiar with the matter told Reuters on Saturday, as the investor voted against such a move.

Kedah Menteri Besar Datuk Seri Muhammad Sanusi Md Nor apologised to Prime Minister Datuk Seri Anwar Ibrahim and Cabinet ministers who attended the state-level Madani Aidilfitri celebration on Saturday night.

Labour wins in the UK’s two biggest cities completed a string of local election successes by opposition leader Keir Starmer that showed his party firmly on course for victory at a general election later this year.

Warren Buffett said he expects the US government to increase taxes to tackle widening fiscal deficits rather than reduce spending.

In the May 6 issues of City &amp; Country, the cover story features Eastern &amp; Oriental Bhd’s (E&amp;O) Andaman Island in Penang. The reclaimed island project is taking shape and will come in two phases. Phase one covers 253 acres, while phase two will cover 507 acres. Reclamation work for phase one started in 2015 and was completed in December 2019. Work on phase two is ongoing, with the entire reclamation exercise set to be completed by December 2028.

Developing community living sustainably

Prime Minister Datuk Seri Anwar Ibrahim described foreign media reports regarding fuel subsidy cuts as unethical, and said that no final decision had been made at the Cabinet level regarding the issue.

The federal government has agreed in principle to proposals to convert agricultural land within the Muda Agricultural Development Authority (Mada) area for industrial and commercial development.

Mathew Ngau Jau is not a fan of hectic city life, though there is certainly something to smile about as he visits Kuala Lumpur this week for a very special recognition at the 19th Boh Cameronian Arts Awards (BCAA).

Treasure of Borneo

US Treasury Secretary Janet Yellen acknowledged sharp moves in the value of the yen this week, even as she declined to say whether Japan had intervened to support the currency.

Paytm appointed new business executives as the troubled fintech firm’s chief operating officer resigned.

The UK’s Labour Party is set to impose value-added tax (VAT) on boarding fees as well as private education in the country if it wins the next election, Financial Times (FT) reported, citing party insiders.

Maybank IB Research

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