Public Bank - Organic growth regionally. TP for next 3 year RM20
Mahsing
Paramount
Maxis
LPI CAPITAL (8621) - The stock has gone up to RM 13.18 from RM 11.50 within one month recently. Based on estimated EPS 78 sen on FY2011, the stock is fully value now. But you can start to accumulate the stock if it fail below RM12. Target Price for next 3 year: RM16.
Delloyd Venture (6505) - Delloyd is a tier one manufacturer of automotive parts and components that has in the past few years made a foray into palm oil plantation with a total planted area of 12,300 ha. Delloyd’s auto segment also manufactures bus chassis in Indonesia through a JV with an Indonesia partner, in addition to owning an exclusive distributorship for Beiqi Foton to import buses and bus chassis. On the local front, it also owns several dealerships in Malaysia selling
a variety of marques. Its core activity is the manufacturing of door mirrors and
window regulators to a wide range of automotive manufacturers.Currently profit contribution from automotive and palm oil division are 2:1 ratio.
Palm oil prices are currently trading at good levels and in recent months CPO and Palm Kernel prices have increased to around RM3,000 and RM2,000 per metric tonne
respectively. Due to the increase in yield in the Group's oil palm plantation in Indonesia, and coupled with the strong CPO price, this sector has produced substantially higher profits for the period under review. With the increase in the acreage of matured areas in the plantation in Indonesia resulting from newly matured plantings, the gradual increase in the production of CPO from the oil mill there and CPO prices expected to remain firm, the outlook for the Group's plantation sector is will be very soon equal or exceed the automotive division. TP price for next 3 years : RM5.50
Carlsberg
Ajinomoto Malaysia (2658) - Should accumulate at < RM4 for long term.
