AMMB: AMMB Holdings Bhd's recent price weakness offers an attractive bargain hunting opportunity, analysts said. Affin Research, in an update on the group, said it had upgraded its call on AMMB to a 'buy' based on improving loans growth outlook and lower loan loss provisions. It also viewed AMMB's restructuring efforts, to be completed by year-end, positively. AMMB plans to privatise its finance arm by offering AMFB shareholders one AMMB share and RM3.12 cash for every AMFB share owned. It also plans to float its investment bank group (IBG) and would offer AMMB shareholders 1 IBG share at RM1.40 each for every 5 AMMB shares held. AMMB : [Stock Watch] [News]
YSP: Pharmaceutical products manufacturer Y.S.P Southeast Asia Holdings Bhd's share price ended last Friday at its lowest level since listing early this year despite a strong first-half results announced last week. A local bank-backed stockbroking house, which maintained its 'buy' call on this stock with a target price of RM2.95, said YSP's performance – it made a pre-tax profit of RM5.7mil on revenue worth 35.8mil year-to-date – was in line with expectations. YSP is currently expanding its plant in Bangi to increase product range. The company plans a total of six new products to be launched by year-end and an additional 10 are in the pipeline to be launched next year. YSPSAH : [Stock Watch] [News]
PSC Inds: THE stock saw volatile trade last week on concerns surrounding the naval contractor's future prospects. Last Tuesday, PSC Industries Bhd shares hit limit down on talk that the Government might review the multi-billion ringgit navy contract awarded to the company in 1995. PSCI, however, immediately dismissed the speculation that had sent the stock tumbling to its lowest level in more than a decade. The stock had since recovered some lost ground, but the Securities Commission's decision to reject PSCI's proposed takeover of financially distressed Actacorp Holdings Bhd had cast further doubts over the group. PSCI : [Stock Watch] [News]
Axis: THIS integrated textile and garment manufacturer has attracted little interest in recent weeks as the stock drifted to its lowest levels since taking over Ganad Corp Bhd's listing status in April this year. SBB Securities Research, in a recent report, noted that Axis offered quite a good exposure to the industry. The company has an entrenched clientele base – the US' largest garment distributor GAP Inc accounted for 60%-70% of Axis' total annual sales. The company enjoys a higher profit margin than the industry's average. Meanwhile, the group plans to expand to lower-cost operating countries. Efforts to reduce reliance on a single customer would also help ensure sustained double-digit earnings and revenue growth over the next three years. AXIS : [Stock Watch] [News]
Tan Chong: TAN Chong Motors' stronger-than-expected second-quarter results announced last Thursday had led to an upward re-rating for this stock. Analysts said while margins had eroded somewhat due to the rising Yen, the group was more successful than others in mitigating the impact to its bottomline. Recent Bloomberg data showed that six analysts had upgraded their target price for Tan Chong shares to between RM1.57 and RM1.75. At the lower end of the share value, Tan Chong shares looked undemanding, based on the prospective 6.2% dividend yield and a price-to-earnings multiple of about 8 times based on profit projections for next year. TCHONG : [Stock Watch] [News]
AMMB : [Stock Watch] [News]
