Oil & gas prospects in NCER

Liaw Thong Jung from Aseambankers Investment Bank said that the oil & gas projects under the NCER program will be centred in 3 key areas in Kedah – ZIPY, ZIPKOP and Tanjung Dawai.

These privately-funded projects, with investment values reaching RM83b, are anchored by several key players for:
(i) oil refinery,
(ii) oil storage,
(iii) oil transportation and
(iv) offshore fabrication projects.

These high-impact onshore oil & gas projects could have positive spillover effects on service providers in the oil & gas industries. The construction sector could also benefit from infrastructure works.

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3565 KUMPULAN EUROPLUS BERHAD	03 Jul 2007 11:27AM	KUMPULAN EUROPLUS BERHAD - 1QFY08 Results Update	K & N Kenanga Berhad	Results Report	Sell
4642 YEO HIAP SENG (MALAYSIA) BERHAD	02 Jul 2007 6:12PM	1Q07 results. Downgrade to Hold (from Buy)	Standard and Poors	Results Report	Hold
1058 MANULIFE INSURANCE (MALAYSIA) BERHAD	02 Jul 2007 6:11PM	1Q07 results. Maintain Hold	Standard and Poors	Results Report	Hold
7028 ZECON ENGINEERING BERHAD	02 Jul 2007 6:11PM	1Q07 results. Maintain Hold	Standard and Poors	Results Report	Hold
4928 SAPURA TECHNOLOGY BERHAD	02 Jul 2007 6:10PM	1QFY08 results. Downgrade to Sell (from Buy)	Standard and Poors	Results Report	Sell
5606 GOLDIS BERHAD	02 Jul 2007 6:10PM	Maintain Hold	Standard and Poors	Update Report	Hold
8575 SAPURACREST PETROLEUM BHD	02 Jul 2007 6:10PM	1QFY08 results. Downgrade to Sell (from Hold)	Standard and Poors	Results Report	Sell
5076 ASTRO ALL ASIA NETWORKS PLC	02 Jul 2007 5:41PM	Results - 1QFY08	Mercury Securities Sdn Bhd	Results Report	Hold
7109 OCTAGON CONSOLIDATED BERHAD	02 Jul 2007 5:41PM	Results - 2QFY07	Mercury Securities Sdn Bhd	Results Report	Sell
7191 ADVENTA BERHAD	02 Jul 2007 5:40PM	Results - 1QFY08	Mercury Securities Sdn Bhd	Results Report	Hold
7121 XIAN LENG HOLDINGS BERHAD	02 Jul 2007 5:35PM	1QFY08 Results Report, HOLD rating maintained	Netresearch-Asia Sdn Bhd	Results Report	Hold
5053 OSK HOLDINGS BERHAD	02 Jul 2007 3:44PM	Update Report, BUY rating maintained	Netresearch-Asia Sdn Bhd	Update Report	Buy
6688 HWANG-DBS (MALAYSIA) BERHAD	02 Jul 2007 3:44PM	Update Report, BUY rating maintained	Netresearch-Asia Sdn Bhd	Update Report	Buy
6483 K & N KENANGA HOLDINGS BERHAD	02 Jul 2007 3:43PM	Update Report, HOLD rating maintained	Netresearch-Asia Sdn Bhd	Update Report	Hold
6432 APOLLO FOOD HOLDINGS BERHAD	02 Jul 2007 10:54AM	4QFY07 Result Update	Netresearch-Asia Sdn Bhd	Results Report	Buy
5072 HIAP TECK VENTURE BERHAD	02 Jul 2007 9:54AM	Results Note	Affin Securities Sdn Bhd	Results Report	Buy
1503 GUOCOLAND (MALAYSIA) BERHAD	29 Jun 2007 5:37PM	Share price rally unjustified. Maintain sell.	Asia Analytica Sdn Bhd	Update Report	Sell
6432 APOLLO FOOD HOLDINGS BERHAD	29 Jun 2007 5:25PM	4QFY07 results. Maintain Buy	Standard and Poors	Results Report	Buy
1619 DRB-HICOM BERHAD	29 Jun 2007 5:24PM	4QFY07 results. Upgrade to Hold (from Strong Sell)	Standard and Poors	Results Report	Hold
7133 UNITED U-LI CORPORATION BERHAD	29 Jun 2007 5:24PM	1Q07 results. Maintain Buy	Standard and Poors	Results Report	Buy
3239 MATRIX INTERNATIONAL BERHAD	29 Jun 2007 5:23PM	4QFY07 results. Maintain Hold	Standard and Poors	Results Report	Hold
5028 HEITECH PADU BERHAD	29 Jun 2007 5:23PM	Maintain Buy	Standard and Poors	Update Report	Buy
7191 ADVENTA BERHAD	29 Jun 2007 5:23PM	1QFY08 results. Maintain Strong Buy	Standard and Poors	Results Report	Buy
5038 KSL HOLDINGS BERHAD	29 Jun 2007 5:22PM	Maintain Hold	Standard and Poors	Update Report	Hold
3239 MATRIX INTERNATIONAL BERHAD	29 Jun 2007 4:53PM	Matrix - 4QFY07 Results Report	JF Apex Securities Bhd	Results Report	Hold
5126 SARAWAK OIL PALMS BERHAD	29 Jun 2007 4:33PM	Results Update	Netresearch-Asia Sdn Bhd	Results Report	Buy
3158 YNH PROPERTY BHD	29 Jun 2007 3:37PM	YNH Property Bhd	Kim Eng Research Sdn Bhd	Update Report	Buy
6963 V.S. INDUSTRY BERHAD	29 Jun 2007 10:08AM	Stunning Performance	RHB Research Institute Sdn Bhd	Results Report	Buy
9377 FSBM HOLDINGS BERHAD	28 Jun 2007 8:29PM	FSBM-Update-070627	SJ Securities Sdn Bhd	Update Report	Buy
1767 PETALING GARDEN BERHAD	28 Jun 2007 6:25PM	Cease coverage	Standard and Poors	Update Report	Sell

Landmarks & Bintan Casino

Landmarks down 0.5% at MYR1.94 in thin volume but could rebound firmly in coming days; CEO and COO Lim Boon Soon says at AGM, masterplan for Bintan project in Indonesia expected to be completed by 4Q07. Project expected to contribute positively to Landmark's revenue from 2008. Last month, Landmarks bought 64.5% stake in Bintan Treasure Bay which owns 342 hectare leasehold land in Bintan. Lim declined to disclose any details on the planned development but talk rife company plans resort development with possibility of including a casino. Stock faces resistance at MYR2 (100-day moving average), then MYR2.20 (30-day moving average). Should find support at MYR1.94 (recent lows).

TM & MiTV

RHB Research doesn't expect "material earnings enhancement" from Telekom's domestic roaming agreement with MiTV, so keeps on Market Perform call. Notes that no roaming charges are disclosed, but believes the negotiated rate between the two "may prove noncompetitive" to unlisted operator MiTV. Doesn't expect MiTV to be credible new telco entrant as it doesn't have proven track record and is up against sector's strong, entrenched players. Keeps fair value at MYR11.57 on FY08 19.2X P/E. Shares down 1% at MYR10.20.

Sell Talam On Rally Based On Charts - TA

TA Securities says sell Talam on rally based on charts; "Talam shares fell from a double-top in end-March to rebuild support above 25 sen, which defined the lower band of a wide uptrend channel from September 2006," TA says. Yesterday's sharp rally has immediate upside potential to 36 sen, with double-top near 39 sen acting as stronger hurdle. "However, a profit-taking correction is expected soon, given the daily stochastics which is moving into the overbought zone on further strength," TA says; tips sustainable support at 28 sen. Stock down 7.1% at 33 sen in active trade.

S&P Keeps Marco As Strong Sell, 14 Sen Target

S&P Equity Research keeps Marco as Strong Sell, with 14 sen target after company posts in-line 1Q net profit of MYR0.8 million (vs MYR0.68 million in 1Q 2006); thus keeps 2007 net profit forecast at MYR3.2 million, 2008 forecast at MYR3.3 million. "Given the absence of other bottom-line contributors (such as property development), earnings growth from its core timepiece distribution business will be unexciting," S&P says; this can't justify estimated current year PER of about 40X, suggests stretched valuation. Stock down 2.7% at 18 sen in moderate trade.

Sell Land & General On Rally,Based On Charts -TA

TA Securities says sell Land & General on rally, based on charts; L&G shares surged above April 11's peak of 52.5 sen yesterday and overbought reading on daily stochastics should attract profit-taking and selling-on-rally interest; tips immediate support at 45 sen. Stock down 3.8% at 51 sen in active trade midday.

HLG Starts Carotech As Buy, With 90 Sen Target

HLG Research starts coverage on Carotech with Buy call, target is 90 sen on 18X 2008 earnings. Tips 40% CAGR FY06-09 EPS growth on company's plant expansion (120,000 metric ton-capacity by January 2008 vs 16,000 metric tons now), which "will more than compensate for lower margins from record high CPO prices". While shares have performed poorly relative to KLCI, CPO futures (inverse relationship with CPO prices), HLG thinks CPO prices have peaked at MYR2,300-2,400/metric ton and are biased downward due to rising supply and slow biodiesel demand growth. Shares down 0.7% at 69 sen midday.

MIMB Has Strong Buy On Bonia Based On Charts

MIMB Research has Strong Buy on leather goods and apparel maker Bonia Corp based on charts; says stock's recent fall to MYR1.02 low with oversold signals (RSI at 44.9 at lowest point) suggests significant bullish indicators are in place.

PSCI UP; PN17 Exit Hopes, Turnaround Play

PSC Industries UP on hopes company may soon exit PN17, a classification for financially troubled entities; some punters are buying the share because they feel that the company has strong turnaround potential; this, after company last week signed underwriting pact for rights issue which will raise MYR69.9 million for working capital; the rights issue represents the final phase of PSC's regularization plan which also includes capital reduction, debt settlement. Company says plan due to completed in 3Q, will also see company's exit from PN17.

OSK Starts YTL Cement With Trading Buy

OSK Investment starts YTL Cement with Trading Buy, DCF-based fair value of MYR6.30; analyst says company has proven itself to be one of strongest cement players in industry in terms of earnings margins, operational efficiency. "Considering that prospects are improving for the cement industry in Malaysia with the revival of the construction sector and the automatic pricing mechanism coming into play, we see that YTL Cement is without doubt, going to perform in term of earnings," says analyst Arhnue Tan. But imputing heavy dilutive effect from ICULS, says group has already reached its peak pricing with FY07 PE hovering at 26.9X level. Tips accumulating at lower levels. YTL Cement down 4.1% at MYR5.80

Citi Keeps AirAsia As Sell, MYR1.66 Target

Citigroup keeps AirAsia as Sell, target at MYR1.66 as "risks are on the downside", given rich valuations (22X PER, which is 23% premium to global sector peers, 24% premium to Malaysian market), 49% foreign shareholding. Despite significant market share gains in Malaysia (now 50% vs 30% in FY06), Citi concerned about slowing growth in overseas JVs - Thai and Indonesia AirAsia. Expects AirAsia to meet FY07 recurring net profit of MYR198 million or reported earnings of MYR400 million if allowed to include deferred tax credits in audited accounts. Stock down 0.5% at MYR1.95 in moderate trade midday

Hektar A Strong Buy Based On Charts - MIMB

MIMB Research says Hektar Real Estate Investment Trust a Strong Buy based on charts; stock's fall to MYR1.00 low recently with oversold signals (RSI 44.4 at lowest point) indicates significant bullish indicators in place. Suggests stop-loss at MYR1.31, says sell and take profits from MYR1.65 to MYR1.81. Stock +5.5% at MYR1.53 in moderate trade midday.

TA Keeps SapCrest As Sell, MYR1.33 Target

TA Securities keeps SapuraCrest Petroleum as Sell, targets MYR1.33 as stock "pricey." Comes after company reported 1Q core net profit of MYR4.1 million (after excluding FX gain of MYR6.4 million), which below expectations, down 30% on-year despite 21% rise in revenue; cuts FY08 profit forecast 8.7% to MYR62.8 million after trimming pretax profit margin assumption for drilling, marine division. Stock +1.5% at MYR1.97 in active trade midday.

Buy ECM For MYR1.40 Medium Term Target

TA Securities says Buy on ECM-Libra based on charts for medium-term upside towards MYR1.40 and higher; "ECM shares had completed a full recovery from the March sell-off, with a base building phase above MYR1 in May anchoring the recent share price upswing," TA says; decisive breakout above MYR1.30 will enhance upside momentum towards MYR1.40 and beyond. Stock down 2.3% at MYR1.23 in active trade.

HELLO

S&P Ups Symphony To Hold, Keeps 37 Sen Target

S&P Equity Research ups Symphony House to Hold from Sell, keeps 37 sen target after recent share price decline; but cuts 2007 net profit forecast 50.5% to MYR6.6 million, cuts 2008 by 39.7% to factor in sale of 3 units in I.T. services, corporate advisory. "The disposal can reduce earnings volatility in the future, and allow the company to focus on the more profitable BPO (business process outsourcing) businesses," S&P says; expects company to have recurring earnings CAGR estimated at 19% for 2007-2010, vs 28% decline for 2004-2007. "Given a dividend yield of 3.7% and an improving earnings prospect, we believe further downside in the stock is limited," S&P says. Stock down 1.3% at 39 sen in active trade midday.

CIMB Keeps Buy Call On MRCB, Target MYR3.15

CIMB keeps MRCB on Buy with MYR3.15 target price based on RNAV; says company may emerge as best play for exposure to mega projects planned in Penang including much talked about new MYR1.2 billion international airport. Over weekend, The Edge reported MRCB planning to buy 30% stake in Equine Capital which mooted airport project some years ago. MRCB could also add MYR1.2 billion Penang Monorail project and MYR1 billion Penang Outer Ring Road (PORR). Orderbook could potentially surge to MYR5.1 billion. MRCB flat at MYR2.51 in heavy volume but could attract buying attention in coming weeks. Equine Capital +1.3% at MYR3.10.

CS Starts Memstech At Outperform,Target Of MYR1.06

Credit Suisse starts Memstech at Outperform, target price of MYR1.06. "Memstech has started supplying a major MNC hand-phone manufacturer with its silicon microphone, which could lead to exponential earnings growth." Says catalyst: release of its 4Q FY07 results at end of September, which should show first evidence of jump in silicon microphone sales, also listing transfer from MESDAQ to Main Board "could be another major catalyst in 1Q08." Stock +25.8% at 75 sen.

Bomoh's Squat - Tibetan Dzi Bead

The controversy surrounding dZi beads stems from their mysterious origins more than a millenium ago and also from the beautiful legends that have been passed down about them over the centuries in Tibet, that ancient kingdom in the snow.

Stories of stones dropping from Heaven can be traced back to a Buddhist sutra that records a Himalayan legend about an evil spirit who would from time to time descend to the world of men to cause plagues and disasters. Fortunately, a benevolent god took pity on the humans and cultivated its powers in Heaven, causing the beads to fall from Heaven. Those whose good fate it was to obtain one would thus be protected from misfortunes and all kinds of evil. Different variations on this same basic legend are found all over Tibet.

Whether dZi beads are spiritual bugs or stones fallen from Heaven, they bring good karma to those who own them. Since having a dZi bead can bring good fortune, health and wealth, affluent Tibetans have long been avid collectors of these legendary jewels. As long as 1300 years ago, The New History of the Tang Dynasty recorded that Tibetans liked to wear dZi beads, "a single one of which could be traded for a horse." From this you can see the high value that was placed on them.

Five Eyed Five directional wealth gods – accumulate wealth / goodluck and material gain / gain useful people, more money, valuables & food/ good fortune / fulfill success and wishes.