Stock Watch


AN analyst with OSK Reseach said Tenaga Nasional Bhd was on the improvement path, driven by a management team that was delivering on GLC reform targets. He said the 12% tariff hike last year and strengthening of the ringgit had lifted TNB earnings and reduced gearing. TNB has also stripped off some of its non-core assets. The analyst said TNB would benefit from the rise in electricity demand – set to grow by 5% this year and 6% in 2008. 

 TENAGA :  [Stock Watch]  [NewsTENAGA-C :  [Stock Watch

NETRESEARCH Asia sees Oriental Interest Bhd (OIB) as an attractive laggard. A broker said any downside to the stock was limited by the company's high dividend yield forecasts of about 6.8% to 7.6% for the next two years. The research house has a ''buy'' call on OIB with a target price of RM1.87. He said the stock was undervalued trading at a low single-digit price-to-earnings multiple of 4.5 times, and at a significant discount of 53% to its financial year 2006 net tangible asset of RM2.96 per share. 

 OIB :  [Stock Watch]  [News

ASEAMBANKERS has a “strong buy” call on WCT Engineering Bhd and a target price of RM6.65, citing robust growth prospects on the back of a sizeable order book of RM3.64bil. An analyst with the research house said WCT's net profit could grow by 24% in 2007 and 20% in 2008, spurred by new construction projects under the Ninth Malaysia Plan and the construction boom in the Gulf States. It is also a strong contender to build new Formula One circuits with the next one expected to be built in Abu Dhabi by 2009. 

 WCT :  [Stock Watch]  [NewsWCT-WA :  [Stock Watch]

For latest Bursa Malaysia indices, charts and other information click here

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Business News

Ringgit opens higher on improving sentiment
Bursa opens flat ahead of 12MP unveiling
Quick take: Federal International rises on RE sector venture
Growth catalysts could propel VS Industry further
Trading ideas: FGV, FIH, Hong Seng, Analabs, VS
BP says nearly a third of its UK fuel stations running on empty
UK opposition hints at wealth taxes on shareholders and landlords
U.K.'s Wise to join the New Payments Platform in Australia
Top read business stories from Sept 20 to 25
Robust capital market

Stories You'll Enjoy


Vouchers