reports
- Jack Goh Tooan Orng
- Jack Lai Yuan Khai
Construction - Pouring In Concrete And Steel
Pouring In Concrete And Steel While the broad market remains under pressure due to unprecedented global economic headwinds, the Malaysian construction sector resisted these tensions with a stellar outperformance in 1H25. Large-cap stocks within the sector are gaining ground, supported by robust orderbook replenishment and earnings delivery. Maintain OVERWEIGHT as the sector upcycle will be well supported by selective infrastructure and DC projects. Our top picks are still Gamuda, IJM and Kerjaya...
- Benyamin Mikael
- Damon Shen
- Jack Goh Tooan Orng
- Jack Lai Yuan Khai
- Jieqi Liu
- Jonathan Koh
- Kitpon Praipaisarnkit
- Philip Wong
- Willinoy Sitorus
Regional Morning Meeting Notes: Wednesday, June 18, 2025
GREATER CHINA Sector Property Takeaways from channel check at The Southside. INDONESIA Strategy Higher Oil Prices Bode Well For Some Participants Beneficiaries of higher oil prices. Takeaways From Our Marketing Trip To Kuala Lumpur Cautious but engaged. MALAYSIA Sector Construction Sector resists tensions from global uncerta...
00016 SUN HUNG KAI PROPERTIES LIMITED
AKRA PT AKR CORPORINDO TBK
ANTM PT ANEKA TAMBANG TBK
BBRI PT BANK RAKYAT INDONESIA (PERSERO) TBK CLASS B
AMRT SUMBER ALFARIA TRIJAYA TBK PT
BBCA PT BANK CENTRAL ASIA TBK
ERAA ERAJAYA SWASEMBADA
5226 GABUNGAN AQRS
TRUE TRUE CORP. PUBLIC CO. LTD.
GAM GAMUDA BHD
ROTH BRITISH AMERICAN TOBACCO BHD
SCGB SUNWAY CONSTRUCTION GROUP BH
IJM IJM CORP BHD
FNH FRASER & NEAVE HOLDINGS BHD
HEIM HEINEKEN MALAYSIA BHD
CAB CARLSBERG BREWERY MALAYSIA B
MRC MALAYSIAN RESOURCES CORP BHD
ICBP INDOFOOD CBP SUKSES MAKMUR T
KPG KERJAYA PROSPEK GROUP BHD
NESZ NESTLE (MALAYSIA) BERHAD
QLG QL RESOURCES BHD
WCTHG WCT HOLDINGS BHD
MRDIY MR DIY GROUP M BHD
00017 NEW WORLD DEVELOPMENT CO. LTD.
FFB FARM FRESH BHD
CMRY PT CISARUA MOUNTAIN DAIRY TBK
CLAR CAPITALAND ASCENDAS REIT
99SMART 99 SPEED MART RETAIL HOLDINGS BHD
KOPI MK ORIENTAL KOPI HOLDINGS BHD
ECOSHOP MK ECO-SHOP MARKETING BHD
- Jack Goh Tooan Orng
- Jack Lai Yuan Khai
Gabungan AQRS (AQRS MK) - 3QFY25: Below Expectations
3QFY25: Below Expectations Below our expectations. Gabungan AQRS (GAQRS) reported a 9MFY25 core net profit of RM8.1m (-42% yoy). We arrive at this core net profit after stripping out: a) reversal of impairments of RM2.7m, b) impairments of RM2.1m, and c) liquid ascertained damages of RM18.3m. Results missed our expectations but met consensus, making up 51% of our and 83% of consensus’ full-year forecasts. The negative deviation stemmed largely from wider-than-expected losses from the property se...
- Jack Goh Tooan Orng
- Jack Lai Yuan Khai
Gabungan AQRS (AQRS MK) - 2QFY25: Broadly Within Expectations
2QFY25: Broadly Within Expectations Broadly within expectations. Gabungan AQRS (GAQRS) reported a 1HFY25 core net profit of RM5.2m (-56% yoy). While this only made up 32% of our and 27% of consensus forecasts, we deem this broadly within our expectation given the improved performance in 2QFY25. We arrive at the core net profit after stripping out: a) reversal of impairments of RM3.6m, b) impairments of RM1.8m, and c) liquid ascertained damages of RM11m.
- Jack Goh Tooan Orng
- Jack Lai Yuan Khai
Construction - Composition Of Collateral Damages
Composition Of Collateral Damages While the US’ AI chip export restrictions has created an unprecedented selldown, this frontloaded pullback may be overdone as we thoroughly assess DC exposure and risks for companies under our coverage. Beyond the temporary noises, the sector’s growth remains well supported by a huge pipeline of selective domestic infrastructure projects and multi-year high orderbooks. Maintain OVERWEIGHT. Our top picks are Gamuda, IJM Corp and Kerjaya Prospek Group.
- Jack Goh Tooan Orng
- Jack Lai Yuan Khai
Gabungan AQRS (AQRS MK) - 1QFY25: Below Expectations
1QFY25: Below Expectations Below expectations. Gabungan AQRS (GAQRS) reported core net losses of RM3.5b in 1QFY25. This fell short of both our and consensus’ forecasts as GAQRS fell into the red. The negative deviation stemmed mainly from lower-than-expected construction revenue as most projects were at the tail-end of completion.
- Ariel Poh Yun Li
- Hazmy Hazin
- Jack Goh Tooan Orng
- Jacquelyn Yow Hui Li
- Jessie Guo Yuting
- Jieqi Liu
- Jo Yee Ng
- Johnny Yum Chung Man
- Ken Lee
- Leow Huey Chuen
- Limartha Adhiputra
- Singapore Research Team
- Vincent Khoo Boo Aik
- Waritthorn Kaewmuang
- Zhifeng Shen
Regional Morning Notes - Wednesday, August 24, 2022
GREATER CHINA Results Anta Sports Products (2020 HK/BUY/HK$92.00/Target: HK$130.00): 1H22: Profit dipped on high operating costs; expecting solid recovery in 2H22. Hysan Development (14 HK/BUY/HK$22.85/Target: HK$32.00): 1H22: Underlying profit in line with expectation; reopening of borders and sales of development properties may offer upside. Shenzhen Inovance (300124 CH/HOLD/Rmb64.26/Target: Rmb62.30): 2Q22: Results in line, but headwinds in 2H22 persist. XPeng Inc. (9868 HK/BUY/HK$82.95/Targe...
ITMG INDO TAMBANGRAYA MEGAH
BEM BANGKOK EXPRESSWAY AND METRO PUBLIC COMPANY LIMITED
00014 HYSAN DEVELOPMENT CO. LTD.
300124 SHENZHEN INOVANCE TECHNOLOGY CO. LTD CLASS A
5226 GABUNGAN AQRS
BST BERJAYA SPORTS TOTO BHD
IOI IOI CORP BHD
CAO CHINA AVIATION OIL SINGAPORE CORP LTD
MCH MATRIX CONCEPTS HOLDINGS BHD
09868 XPENG INC
1 director bought
A director at Gabungan Aqrs Bhd bought 500,000 shares at 1.270MYR and the significance rating of the trade was 76/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years cle...
Ford Equity International Rating and Forecast Report
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
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