NST Online Business Times : latest

Posted: 30 Sep 2012 06:40 PM PDT

Affin Investment Bank upgraded MBM Resources Bhd to "add" from "reduce" previously, with the same target price of RM3.60 a share, after the car components maker tied up with Hino Japan to assemble trucks in Malaysia.

"This vertical expansion denotes potential margin expansion as MBM moves from its existing distribution margins of 2-4 percent to incorporate a 10-15 percent assembler margin composition," the research house said in a note on Monday.

Coupled with good cost discipline and economies of scale, the Hino plant can potentially generate mid-teen margins, Affin added.

MBM's share price has fallen 11.3 percent in the past two weeks, according to Reuters chart. "We believe there may be opportunities to accumulate," Affin said.

By 9.24 am, the counter rose 1.19 percent to RM3.40 per share, as compared with the broader index that remained unchanged. -- Reuters

Hiap Tech Venture's fair value cut

Posted: 30 Sep 2012 06:46 PM PDT

RHB Research cut its fair-value estimate for steel company Hiap Teck Venture Berhad to RM0.51 from RM0.58 to reflect weak demand for the company's products.

RHB lowered its net profit forecast for Hiap Teck for the financial year 2013/2014 by 2 to 3 percent in a research note on Monday due to lower estimates for sales volumes in the company's manufacturing and trading divisions.

At 9.23 am, Hiap Teck was down 0.99 percent at RM0.50 per share, while the benchmark KLSE composite index was down 0.02 percent at 1636.37. -- Reuters

Kredit: www.nst.com.my

Ahad, 30 September 2012

NST Online Business Times : latest

NST Online Business Times : latest

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