Stockwatch

Genting: SPOOKED by the pneumonia-like virus outbreak in parts of Asia and Iraqi war jitters, investors’ confidence fizzled out as worries mounted over this blue-chip group’s leisure and hospitality operations under Resorts World. Analysts expect the deadly virus attack to take a toll on Resorts World’s associate Star Cruise’s liners, which ply Hong Kong, Sin- gapore and Hanoi. Genting’s hilltop casino operation will also likely be affected by the declining number of Singaporean tourists, who account for about 25% of total casino tourist arrivals. 

Renong: DESPITE the removal of major uncertainties with last Thursday’s announcement on Renong's long awaited restructuring scheme, Net Asia Research said the market seemed disappointed as earlier speculations had indicated that the group’s prospects would be boosted through the injection of new and lucrative projects. The restructuring scheme will see Renong’s listing status transferred to a new holding company, UEM World Bhd (UEMW), which in turn will have four distinct core businesses under its wings.  

Maybank: MALAYSIA’S largest bank is set to excel, buoyed by Bank Negara's recent announcement on no interest cut “just yet” and Standard & Poor’s upgrading the bank's long-term counter party ratings to positive from stable. Another factor to bolster the share price would be the approaching April 14 ex-date of the bank’s proposed interim dividend of 35%, of which 25% is tax-exempted. OCBC Securities said the payout was the largest in its history and translated into a net yield of 4.08%, far better than de- posit rates.  

Maxis: THE third generation (3G) spectrum allocation to Maxis by the Malaysian Communications and Multimedia Commission reinforces OSK Research’s views on this group’s ability to remain relevant given the challenging operational environment in the cellular market segment. The spectrum block will be assigned for 15 years – from April 2, 2003 to April 1, 2018. The research unit said the commercial roll-out for the 3G would not be immediate as the market was still not ready for it.  

KLK: FUTURE earnings for this plantation giant will continue to be driven by its plantation division on better palm oil prices and higher fresh fruit bunches production. Kim Eng Securities believes that the group in the first quarter of this year alone had achieved a 49% higher crude palm oil average selling price per tonne of RM1,480 against RM990 in the first quarter of last year. Based on KLK’s net cash, which had risen by 41% quarter-on-quarter to over RM400mil, the research unit said KLK would be in a comfortable position for future land acquisitions. 

Renong: DESPITE the removal of major uncertainties with last Thursday’s announcement on Renong's long awaited restructuring scheme, Net Asia Research said the market seemed disappointed as earlier speculations had indicated that the group’s prospects would be boosted through the injection of new and lucrative projects. The restructuring scheme will see Renong’s listing status transferred to a new holding company, UEM World Bhd (UEMW), which in turn will have four distinct core businesses under its wings.  

Maybank: MALAYSIA’S largest bank is set to excel, buoyed by Bank Negara's recent announcement on no interest cut “just yet” and Standard & Poor’s upgrading the bank's long-term counter party ratings to positive from stable. Another factor to bolster the share price would be the approaching April 14 ex-date of the bank’s proposed interim dividend of 35%, of which 25% is tax-exempted. OCBC Securities said the payout was the largest in its history and translated into a net yield of 4.08%, far better than de- posit rates.  

Maxis: THE third generation (3G) spectrum allocation to Maxis by the Malaysian Communications and Multimedia Commission reinforces OSK Research’s views on this group’s ability to remain relevant given the challenging operational environment in the cellular market segment. The spectrum block will be assigned for 15 years – from April 2, 2003 to April 1, 2018. The research unit said the commercial roll-out for the 3G would not be immediate as the market was still not ready for it.  

KLK: FUTURE earnings for this plantation giant will continue to be driven by its plantation division on better palm oil prices and higher fresh fruit bunches production. Kim Eng Securities believes that the group in the first quarter of this year alone had achieved a 49% higher crude palm oil average selling price per tonne of RM1,480 against RM990 in the first quarter of last year. Based on KLK’s net cash, which had risen by 41% quarter-on-quarter to over RM400mil, the research unit said KLK would be in a comfortable position for future land acquisitions.