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Mayban Securities | Inter-Pacific Research Sdn Bhd
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Mayban Securities
All research from Mayban Securities |
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ECONOMICS - 03 SEPTEMBER 2010
3.09.2010 - 9:33 AM (GMT+8)
External Trade, July 2010 - Further moderation in growth...
Exports eased further in Jul '10 to +13.5% YoY (Jun '10: +17.2% YoY; Maybank IB: +12.0, Consensus: +11.5% YoY) while imports moderated to +18.1% YoY (Jun '10: +30.1% YoY; Maybank IB: +17.1, Consensus: +18.6% YoY) resulting in a trade surplus of RM7.0b. MoM, exports and imports both gained 4.9% and 3.5% respectively.
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ECONOMICS - 03 SEPTEMBER 2010
3.09.2010 - 9:32 AM (GMT+8)
Overnight Policy Rate (OPR) - Hitting the pause button...
Bank Negara Malaysia (BNM) left the Overnight Policy Rate (OPR) at 2.75% yesterday after three consecutive increases of 25bps each so far this year on 4 Mar, 13 May and 8 Jul. The central bank's Monetary Policy Committee (MPC) decision was in line with our and consensus expectations.
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COMPANY UPDATE - 03 SEPTEMBER 2010
3.09.2010 - 9:30 AM (GMT+8)
Amanah Raya REIT RM0.875: Buy - New assets, new substantial shareholder
Maintain Buy. AAREIT's proposal to buy three value enhancing assets from Perbadanan Kemajuan Negeri Selangor (PKNS) for RM270m is positive - it could raise our DPU forecasts by 0.9-1.3%. PKNS will get 122.7m new AAREIT units and RM162m cash.
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Inter-Pacific Capital Sdn Bhd
All research from Inter-Pacific Capital Sdn Bhd |
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COMPANY UPDATE - 03 SEPTEMBER 2010
3.09.2010 - 9:22 AM (GMT+8)
Sunway City Berhad : Target price: RM4.70 Outperform
Valuation: Our fair value is pegged at RM4.70 based on PER of 12.0x and EPS of 39sen, which is 28% discount from the estimated RNAV per share of RM6.51. We maintain Outperform.
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ECONOMIC UPDATE - 03 SEPTEMBER 2010
3.09.2010 - 9:03 AM (GMT+8)
Trade : Trade surplus for the 153th consecutive month
July trade surplus beat ours and consensus estimates: July trade surplus of RM7.01bn was way above ours and consensus estimates by RM0.36bn and RM0.57bn to RM6.65bn and RM6.44bn respectively.
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ECONOMIC UPDATE - 03 SEPTEMBER 2010
3.09.2010 - 9:02 AM (GMT+8)
Overnight Policy Rate : BNM decides to leave rates at 2.75%, as expected
OPR left unchanged for the 1 st time: In line with the market consensus and ours, Bank Negara Malaysia (BNM) in its latest Monetary Policy Committee (MPC) meeting left the Overnight Policy Rate (OPR) unchanged at 2.75%, after having raised it by 75 basis points (bps) over the last three MPC meetings.
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