NST Online Business Times : latest
NST Online Business Times : latest |
| Affin upgrades MAS to 'reduce' Posted: 04 Feb 2013 06:23 PM PST Affin Investment Bank upgraded Malaysian Airline System Bhd to 'reduce' from 'sell', saying the national carrier's tough operating environment and its financing risk have largely been reflected in its weak share price. "Over the last three months, Malaysian Airline's share price has fallen by more than 30 per cent following the proposal of yet another capital raising exercise," Affin said in a research note on Tuesday. Affin said it expects Malaysian Airline to post positive earnings before interests, tax, depreciation and amortisation in the fourth quarter of 2012, but that it will still be a red bottom line. It said, however, the loss could be narrower because of a "moderating operating statistic performance coupled with a flattish jet fuel price." Affin kept its target price at 64 sen per share on the counter and did not change its earning forecast for Malaysian Airline.
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| Posted: 04 Feb 2013 06:23 PM PST HwangDBS Vickers Research has raised the target price for Malaysian automotive-to-insurance conglomerate DRB-Hicom Bhd to RM3.65 from RM3.35, citing the company's land bank. "DRB has an under-appreciated property business with vast land bank. In total, it has 3,736 acres of land worth a total gross development value of RM20.6 billion (US$6.66 billion)," said the brokerage in a report on Tuesday. HwangDBS expects the company's property segment to be the fastest-growing division, led by new launches in the next two years. It maintained a 'buy' call on the stock. DRB, which has national courier Pos Malaysia and Services Holdings Bhd and Proton Holdings Bhd in its stable, remained unchanged at RM2.58 as of 0940am (0140GMT) while the benchmark index was down 0.04 per cent. -- Reuters |
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