PP 7767/09/2010(025354)

1 March 2010
RHB Research
Malaysia
Institute Sdn Bhd
A member of the
RHB Banking Group
Company No: 233327 -M

Corporate Highlights
1 March 2010
MARKET DATELINE

♦ Genting : Better Years Ahead Outperform

Results / Briefing Note

♦ Genting Malaysia : Beating Expectations Market Perform

Results / Briefing Note

♦ Carlsberg : Hello Singapore! Outperform

Briefing Note

♦ Maxis : Results Delivered While Dividends Outperform

Beat Expectations
Results / Briefing Note

♦ Affin Holdings : Cheapest Valuations Outperform

Results Note

…For details, see individual write-up attached. (... c’td)

Chart 1 : FBM KLCI Chart Table1 : Regional Markets (26 February)

Bloomberg Code Index Chg YTD (%)

1,270.78 FBM KLCI : FBMKLCI 1,270.78* +- Unch -0.2

(Unch) FTSE M'sia : FBMEMAS 8,560.20* +1.04 +0.6
FTSE M'sia 70 : FBM70 8,413.17* +10.23 +1.7
FTSE M'sia 100 : FBM100 8,327.57 +2.13 +0.2
Singapore : FSSTI 2,750.86 +1.71 -5.1
Thailand : SET 721.37 +4.27 -1.8
Philippines : PCOMP 3,043.75 +12.49 -0.3
Indonesia : JCI 2,549.03* -30.38 +0.6
Chg Hong Kong : HSI 20,608.70 +209.13 -5.8
KLCI Futures February 2010 1276.5* +6.5 China, Shanghai : SHCOMP 3,051.94 -8.67 -6.9
KLCI Futures March 2010 1265.0* +1.0 China, Shenzhen : SZCOMP 1,172.33 -1.32 -2.4
WTI Crude Oil (US$/barrel) 79.56 +2.19
Korea : KOSPI 1,594.58 +7.07 -5.2
Taiwan : TWSE 7,436.10 +9.14 -9.2
CPO Spot Price (RM/Tonne) 2618.5^ -20.00
Japan : NKY 10,126.03 +24.07 -4.0
US$/Euro 1.361 +0.01
Dow Jones : INDU 10,325.26 +4.23 -1.0
Yen/US$ 89.3 -0.05
S&P 500 : SPX 1,104.49 +1.55 -1.0
Ringgit/US$ 3.400 -0.01
Nasdaq : CCMP 2,238.26 +4.04 -1.4
^ as at 24 February 2010 closing
* as at 25 February 2010 closing
* as at 25 February 2010 closing

RHBRI’s Research Team Tel : (603) 9280 2160 E-mail : remail@rhb.com.my

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♦ IJM Corporation : 9MFY03/10 Net Profit Contracted 6% Underperform

YoY
Results Note

♦ IJM Plantations : Better Margins In 3QFY03/10 Underperform

Results Note

♦ IJM Land : On Track Outperform

Results Note

♦ YTL Power : 2Q Net Profit Up 16% YoY Market Perform

Results Note

♦ YTL Cement : 2QFY06/10 Performance Weakens QoQ Underperform

On Weaker Cement Sales; Weak
Results Note
Quarters Ahead

♦ Petra Perdana : Dragged Down By Petra Energy Underperform

Results Note

♦ KNM Group : 4Q Dragged Down By Weak Demand Market Perform

From China & Middle East
Results Note

♦ Kossan Rubber : FY09 Core Earnings Surged 62% YoY, Outperform

Beating Estimates
Results Note

♦ Faber : Full-Year Core Earnings Boosted By Outperform

UAE Contract
Results Note

♦ Sime Darby : In Line, But Cost Overrun Provision Outperform

After All
Results / Briefing Note

♦ Allianz Malaysia : Stronger Growth Outperform

Results Note

♦ MNRB Holdings : Stronger Earnings From Better Claims Market Perform

Experience and Reversal Of Provision
Results Note

♦ Media Chinese Int’l : Above Expectations Outperform

Results Note

♦ WTK Holdings : Hoping For A Stronger Recovery Market Perform

Results Note

♦ Sunway City : Targets RM1bn Sales For FY10 Outperform

Results Note

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 1 March 2010

♦ KLCC Property : No Surprises Market Perform

Results Note

♦ AirAsia : Strong FY12/09 Performance, More Market Perform

“Disciplined” Growth Going Forward
Results / Briefing Note

♦ Hock Seng Lee : FY12/09 Net Profit Grows By 35% Outperform

Results Note

♦ Emas Kiara Industries : Decent FY12/09 Performance Despite Outperform

Economic Uncertainty
Results Note

♦ KPJ Healthcare : On Track To Meet Its 2012 Target Outperform

Results Note

♦ Bonia Corporation : Margin Recovery In Sight Outperform

Results Note

♦ Ann Joo Resources : Anticipates Bumper Earnings in Outperform

1HFY12/10
Results / Briefing Note

♦ Sino Hua-An Int’l : A Bad Patch In 4QFY12/09 Outperform

Results Note

♦ Perwaja Holdings : Expecting Margin Boost in 1HFY12/10 Outperform

Results Note

♦ Kinsteel : 4QFY12/09 Dragged Down By Outperform

Perwaja; Bumper Profit Ahead
Results Note

♦ Lafarge (M) Cement : FY12/09 Performance Boosted By Underperform

Margin Expansion
Results Note

♦ Freight Management : 1HFY06/10 Net Profit Rises 20% YoY Outperform

Results Note

♦ CB Industrial Product : Look To Better FY10 Outperform

Results Note

♦ Puncak Niaga : FY12/09 Net Profit Underpinned By Market Perform

Government Compensation Yet To Be
Results Note
Received

♦ Wellcall Holdings : Within Expectations Underperform

Results Note

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♦ Euro Holdings : Within Expectations Underperform

Results Note

♦ Texchem Resources : Below Expectations Underperform

Results Note

♦ H-Displays : Bleak Outlook Underperform

Results Note

♦ PMB Tech : FY09 Earnings Declined, But 4Q09 Outperform

Earnings Improved
Results Note

♦ Seacers Tiles : Better-Than-Expected Earnings Underperform

Results Note

♦ Market Technical Reading : Likely To Retreat EarlyThis Week…

Daily Trading Strategy

♦ Kinsteel : A Successful Rebound Will Retest Bargain Buy

RM1.08 and RM1.18
Weekly Trading Idea

♦ Commodities & Currencies : Positive On Commodities Amid

Volatilities In Currencies Market…
Weekly Technical Viewpoint

IMPORTANT DISCLOSURES

This report has been prepared by RHB Research Institute Sdn Bhd (RHBRI) and is for private circulation only to clients of RHBRI and RHB Investment Bank Berhad
(previously known as RHB Sakura Merchant Bankers Berhad). It is for distribution only under such circumstances as may be permitted by applicable law. The opinions and
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The research analysts, economists or research associates principally responsible for the preparation of this research report have received compensation based upon various
factors, including quality of research, investor client feedback, stock picking, competitive factors and firm revenues.

The recommendation framework for stocks and sectors are as follows : -

Stock Ratings

Outperform = The stock return is expected to exceed the FBM KLCI benchmark by greater than five percentage points over the next 6-12 months.

Trading Buy = Short-term positive development on the stock that could lead to a re-rating in the share price and translate into an absolute return of 15% or more over a
period of three months, but fundamentals are not strong enough to warrant an Outperform call. It is generally for investors who are willing to take on higher risks.

Market Perform = The stock return is expected to be in line with the FBM KLCI benchmark (+/- five percentage points) over the next 6-12 months.

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 1 March 2010

Underperform = The stock return is expected to underperform the FBM KLCI benchmark by more than five percentage points over the next 6-12 months.

Industry/Sector Ratings

Overweight = Industry expected to outperform the FBM KLCI benchmark, weighted by market capitalisation, over the next 6-12 months.

Neutral = Industry expected to perform in line with the FBM KLCI benchmark, weighted by market capitalisation, over the next 6-12 months.

Underweight = Industry expected to underperform the FBM KLCI benchmark, weighted by market capitalisation, over the next 6-12 months.

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to the duties of confidentiality, will be made available upon request.

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of third parties in this respect.

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