The Star Online: Business
The Star Online: Business |
- CIMB Research: Property stocks to come under short-term selling pressure
- CIMB Research: Jaya Tiasa’s timber earnings to surge
- Affin Research maintains "Add" call on IOI Corp, TP RM5.62
| CIMB Research: Property stocks to come under short-term selling pressure Posted: 24 Jun 2013 05:40 PM PDT KUALA LUMPUR: CIMB Equities Research expects property stocks to come under short-term selling pressure as share prices rallied after the 13th general election, giving investors an excuse to take profits. It said on Tuesday any slowdown in property sales will likely be temporary, perhaps similar to the previous cases of two to three months as house buyers hold out for lower prices. "But given the strong fundamentals of the residential sector with affordability near its best-ever level, transaction volume and property prices should remain firm. We remain bullish on the sector and would advise investors to buy property stocks on any selloff," ot said. CIMB Research said media reports stated Bank Negara Malaysia may impose curbs on the developer interest-bearing scheme (DIBS). "If true, this would be negative for developers in the short term, though not entirely unexpected as speculation on such moves had already surfaced in May," it said. The research house said although such a policy would have a negative impact on speculative demand, it believed the impact on earnings would be muted, while creating a healthier property market led more by fundamentals. "We remain Overweight on the property sector with Mah Sing as our top pick and robust sales and earnings growth as sector catalysts. Any weakness in property stocks is an opportunity to accumulate, in our view," said CIMB Research. |
| CIMB Research: Jaya Tiasa’s timber earnings to surge Posted: 24 Jun 2013 05:53 PM PDT Published: Tuesday June 25, 2013 MYT 8:54:00 AMKUALA LUMPUR: CIMB Equities Research expects Jaya Tiasa's timber earnings to surge in the coming quarters, due to the recent sharp rise in log prices. It said on Tuesday another factor is the stronger housing starts in Japan, which are likely to support plywood prices in 2H13. "We upgrade our call from underperform to Trading Buy given the likelihood of a near-term re-rating, driven mainly by stronger timber earnings. "We raise our FY13-15 EPS by 29-60% to account for the more bullish outlook for timber prices. Our SOP-based target price goes up to RM2.36 as we apply a higher valuation to the group's timber business," it said. |
| Affin Research maintains "Add" call on IOI Corp, TP RM5.62 Posted: 24 Jun 2013 06:26 PM PDT Published: Tuesday June 25, 2013 MYT 9:26:00 AMKUALA LUMPUR: Affin Research is maintaining its "Add" rating on IOI Corporation Bhd with an unchanged targed price of RM5.62. "As all other salient terms of the Proposals announced on 14 May 2013 remain unchanged, the revision in the above terms does not change our valuation of RM5.62 for IOI Corp based on an implied valuation of RM4.42 for ListCo," it said. |
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