Coupled with broadly rising activity levels (i.e. jobs) offshore, its oil & gas sector analyst has been raising earnings forecasts, valuations and ratings across the O&G services value chain. Top sector picks are Yinson (FPSOs), Dialog (storage), Velesto (drilling), Wah Seong (pipelines, fabrication) and Favelle Favco (crane manufacturing).
KUALA LUMPUR: Maybank Investment Bank Research says it continues to adopt a broadly defensive investing strategy as the equity market continues to contend with multiple external and internal earnings headwinds.
It had on Wednesday cited principally continuing trade uncertainties, as well as political and policy uncertainties, but this was notwithstanding the positive macro signals.
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