The Star Online: Business
The Star Online: Business |
- IHH Healthcare up, but seen ahead of fundamentals
- Affin Fund Management targets more than RM3b assets
- China Auto under spotlight; drives trading volume
| IHH Healthcare up, but seen ahead of fundamentals Posted: 29 Jan 2013 06:32 PM PST KUALA LUMPUR: IHH Healthcare Bhd managed to advance in Wednesday, recouping part of the previous day's losses after the moratorium for its 22 pre-initial public offering cornerstone investors ended last Friday. At 10.16am, it was up two sen to RM3.23. There were 841,700 shares done at prices ranging from RM3.21 to RM3.24. The FBM KLCI fell 1.15 points to 1,636.19. Turnover was 312.39 million shares valued at RM299.63mil. Losers overtook gainers, 171 to 157 while 264 counters were unchanged. At RM3.23, IHH Healthcare is still 43 sen or 15.3% above its listing price of RM2.80 last July when it raised RM5bil. Alliance Research initiated coverage on IHH Healthcare with a Sell recommendation and a target price of RM2.86 based on its sum-of-parts valuation. "In view of its aggressive expansion plans, we are projecting a strong core earnings growth of 136.7%, 76.5% and 22.1% for FY12-FY14 respectively. Although we remain optimistic of the group's long-term growth prospects, we believe that its share price has run ahead of its fundamentals," it said. Alliance Research said IHH Healthcare was trading at a forward price-to-earnings of 34.1 times, which it described as rich and provided limited upside potential. "Furthermore, its low CY13 dividend yield of 0.2% is also not attractive and non-supportive of its rich valuation, in our view," it said. |
| Affin Fund Management targets more than RM3b assets Posted: 29 Jan 2013 06:13 PM PST Published: Wednesday January 30, 2013 MYT 10:13:00 AMKUALA LUMPUR: Affin Fund Management Bhd's assets under management will exceed RM3bil with the launch of three funds. It said on Wednesday the new funds -- Affin 2-iWholesale, 3-iWholesae and 4-iWholesale -- would create an additional RM1.5bil to its current RM1.93bil in assets under management as at Dec 31. |
| China Auto under spotlight; drives trading volume Posted: 29 Jan 2013 05:49 PM PST KUALA LUMPUR: China Automobile Parts surged in very active trade on its first day on Wednesday, as its trading volume accounted for one-third of the total turnover in the first half-hour. The FBM KLCI rose 2.27 points to 1,639.61. Turnover was 153.27 million shares valued at RM111.44mil. There were 128 gainers, 83 losers and 162 counters unchanged. China Auto was the top gainer and most active. Its share price surged 44 sen to RM1.12 and it saw 55.06 million shares done. BAT rose 18 sen to RM57.42 while among the finance stocks, HLFG and Hong Leong Bank rose 10 sen each to RM13.80 and RM14.22. The Store and Tradewinds rose nine sen each to RM2.12 and RM9.17 while Genting Plantations added eight sen to RM8.28. United Plantations fell 24 sen to RM25.92, Xiang Leng 16.5 sen to 13.5 sen while Shangri-La lost 15 sen to RM3.73 and MISC four sen lower to RM4.49. Meanwhile, Maybank KE Research said in its technical outlook that while the KLCI gained 0.21 of a point to close at 1,637.34, its resistance level of 1,635 and 1,674 would cap market gains, whilst weaker support areas were at 1,602 and 1,630. "The KLCI made a key all-time high of 1,699.68 on Jan 4, 2013. A spell of persistent price weakness will now emerge. Despite the US markets' mixed tone last night, we expect the local index to be weaker on heavy foreign liquidation activities," said the research house. |
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