OCBC SecuritiesHomeSitemapContact Us
OCBC Investment Research
 
  Bookmark this page   Tuesday, 23 Sep 2014
 
Today's Headlines
Astro: 2QFY15 within forecast; Upgrade to BUY

Astro Malaysia Holdings Berhad (Astro) saw a 13.5% YoY (+7.6% QoQ) jump in 2QFY15 revenue to MYR1349.1m, while net profit rose 39.3% YoY (+7.4% QoQ) to MYR137.8m. 1HFY15 revenue came in at MYR1349.1m (+12.5%), meeting 46% of our full-year forecast, while net profit rose 24.9% to MYR266.1m, or around 54% of our FY estimate. Astro declared an interim dividend of 2.25 sen/share; total of MYR4.5 sen for 1HFY15, versus 4 sen the same period last year. Since our downgrade on 19 Jun, the share price has fallen by more than 11% to a recent MYR3.26 low, although it has since recovered slightly. Nevertheless, as there is still a very decent 11% upside (total return of 14%) to our unchanged DCF-based fair value of MYR3.75, we upgrade our Hold call to BUY.

 
  Market Pulse
Market Pulse: Astro Malaysia (22 Sep 2014)
Market Pulse: Keppel Land (19 Sep 2014)
Market Pulse: Tiger Airways (18 Sep 2014)
Market Pulse: SG Market, Frasers Com Trust (17 Sep 2014)
Market Pulse: Healthcare Sector (16 Sep 2014)
Market Pulse: Ezion, Sembcorp Industries (15 Sep 2014)
Market Pulse: Keppel Land (12 Sep 2014)
Market Pulse: Venture Corp (11 Sep 2014)
Market Pulse: UOB, StarHub (10 Sep 2014)
Market Pulse: OUEHT (9 Sep 2014)
  Research
Astro: 2QFY15 within forecast; Upgrade to BUY
Astro Malaysia Holdings Berhad (Astro) saw a 13.5% YoY (+7.6% QoQ) jump in 2QFY15 revenue to MYR1349.1m, while net profit rose 39.3% YoY (+7.4% Qo ...
Keppel Land: Divesting stake in MBFC Tower 3
KPLD announced yesterday that it has entered into a conditional agreement to sell its one-third stake in MBFC T3 at a valuation of S$1,248m or S$2 ...
Tiger Airway Holdings: Cautious despite ATI approval
Tiger Airways Holdings (Tigerair) reported passenger load factor (PLF) improvements in the first two months of its 2QFY15 operating statistics. We ...
Singapore Market: Position for better 1H15
Despite yesterday’s correction for the STI, equities are still up for the year. We expect equities to remain in favor, despite higher interest rat ...
Frasers Commercial Trust: Another milestone attained
Frasers Commercial Trust (FCOT) announced earlier this week that it has entered into agreements with a club of banks for transferable term loan fa ...
Healthcare Sector: Rich valuations may cap upside potential
SGX-listed healthcare companies which we track have largely reported improved financial performance during the recent 2QCY14 results season. Under ...
 
 Strategy
Singapore Market: Position for better 1H15
Despite yesterday’s correction for the STI, equities are still up for the year. We expect equities to remain in favor, despite higher interest rat ...
Healthcare Sector: Rich valuations may cap upside potential
SGX-listed healthcare companies which we track have largely reported improved financial performance during the recent 2QCY14 results season. Under ...
Telecom Sector: Pretty dull 2QCY14
For 2QCY14, it was a pretty muted quarter for the telcos, with all of them reporting results that were within our expectations. Nevertheless, we h ...
Oil and Gas: Neutral view, but positive over the longer term
In our earlier report, we highlighted that international oil companies are reining in their capex plans, though national oil companies are still k ...
Singapore Property: Further enhancement of Singapore’s outer regions
Over the last week, the authorities highlighted their various plans to transform the Jurong Lake District into a key regional center and also anno ...
Singapore Property: Deep value in West Orchard could be unlocked
With a dearth of upcoming projects in the Orchard retail space pipeline over 2015-17, we believe there could be a greater impetus for strategic re ...
Home | Research | Market Pulse | Technical Analysis | Strategy | IPOs & Warrants | Sector | About Us
© Copyright 2007 - OCBC Investment Research.| All Rights Reserved | Co.Reg.no.:198301152E