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DJ MARKET TALK: Charts Tips Tanjong May Rise To MYR19.15 -Maybank
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0549 GMT [Dow Jones] STOCK CALL: Maybank Investment rates Tanjong (2267.KU) at Short-Term Buy based on charts with upside targets at MYR18.25, then MYR19.15. Technical analyst Lee Cheng Hooi says stock made Wave 4 low at MYR16.98 in February, with oversold signals. Adds, with share price now above 19-day, 50-day simple moving averages, also positive indicators (like CCI, DMI, MACD, Stochastic and Oscillator), Ascending Triangle Breakout yesterday, Tanjong could soon test resistance levels. Stock last flat at MYR18.08. Resistance at MYR18.30, then MYR18.90. On downside, next support at MYR17.44, stop loss at MYR17.42
DJ Top Glove Executive: FY 2010 U.S. Sales May Grow 10% On Healthcare Reform
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KUALA LUMPUR (Dow Jones)-- Top Glove Corp.'s (7113.KU) sales to the U.S. market will likely grow at a faster 10% this fiscal year against a 5% rise as earlier expected following the recently announced healthcare reform bill, its chairman Lim Wee Chai said Wednesday.
Lim told reporters at the sidelines of the Invest Malaysia conference that the 10% growth for the fiscal year ending Aug. 31 translates into an increase of about MYR60 million in sales to the U.S.
Meanwhile, Lim said earnings for its fiscal second half year will at least match if not exceed the results for the first half.
In the first half, Top Glove posted revenue of MYR982.2 million and net profit of MYR138.8 million.
DJ Supermax Corp: Expect 5%-7% Rise In Glove Sales To U.S. In 2010
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KUALA LUMPUR (Dow Jones)--Malaysia latex glovemaker Supermax Corp (7106.KU) expects to increase its exports of examination gloves to the U.S. by 5% to 7% in 2010 following the recently announced U.S. healthcare reform bill that will lead to coverage for 32 million uninsured Americans, a top exectuive said Wednesday.
"We should be able to capitalize on the demand uptake estimated at 10% to 12% per annum, or (an increase in sales of) MYR35 million to MYR40 million," Executive Chairman and Managing Director Stanley Thai said on the sidelines of the Invest Malaysia conference.
The group's exports to the U.S. currently account for 42% of total sales, he said.
Supermax will have the capability to produce 17.58 billion gloves by Dec. 31 after its ninth manufacturing plant that will have an annual capacity of 2.3 billion comes onstream in April, he added.
DJ MARKET TALK: Affin Raises MRCB Target To MYR1.92; Keeps Buy
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0306 GMT [Dow Jones] STOCK CALL: Affin Investment keeps Malaysian Resources Corp (1651.KU) at Buy, raises target to MYR1.92 from MYR1.77 on improved prospects, as property developer likely to be among key beneficiaries of plans by government to develop 3000 acres of land in Sungei Buloh, near Kuala Lumpur. Prime Minister Najib says at Invest Malaysia conference Tuesday government will partner Employees Provident Fund (EPF) to develop land into "new hub" for central Klang Valley, expects MYR5 billion in new investment. Analyst Kevin Low says MRCB could be beneficiary as EPF holds 39.1% stake; notes firm on lookout for new strategic land bank after completion of its KL Sentral development in 2013, also raised MYR380 million from the recent rights issue. "We estimate that a one-third share in a MYR5 billion development at a pretax margin of 20% would enhance MRCB's RNAV by 17 sen, from MYR1.92 currently to MYR2.09," says Low. Stock +4.4% at MYR1.66
*DJ Astro All Asia Downgraded To Neutral From Buy By OSK Research
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0549 GMT [Dow Jones] STOCK CALL: Maybank Investment rates Tanjong (2267.KU) at Short-Term Buy based on charts with upside targets at MYR18.25, then MYR19.15. Technical analyst Lee Cheng Hooi says stock made Wave 4 low at MYR16.98 in February, with oversold signals. Adds, with share price now above 19-day, 50-day simple moving averages, also positive indicators (like CCI, DMI, MACD, Stochastic and Oscillator), Ascending Triangle Breakout yesterday, Tanjong could soon test resistance levels. Stock last flat at MYR18.08. Resistance at MYR18.30, then MYR18.90. On downside, next support at MYR17.44, stop loss at MYR17.42
DJ Top Glove Executive: FY 2010 U.S. Sales May Grow 10% On Healthcare Reform
--------------------------------------------------------------------------------
KUALA LUMPUR (Dow Jones)-- Top Glove Corp.'s (7113.KU) sales to the U.S. market will likely grow at a faster 10% this fiscal year against a 5% rise as earlier expected following the recently announced healthcare reform bill, its chairman Lim Wee Chai said Wednesday.
Lim told reporters at the sidelines of the Invest Malaysia conference that the 10% growth for the fiscal year ending Aug. 31 translates into an increase of about MYR60 million in sales to the U.S.
Meanwhile, Lim said earnings for its fiscal second half year will at least match if not exceed the results for the first half.
In the first half, Top Glove posted revenue of MYR982.2 million and net profit of MYR138.8 million.
DJ Supermax Corp: Expect 5%-7% Rise In Glove Sales To U.S. In 2010
--------------------------------------------------------------------------------
KUALA LUMPUR (Dow Jones)--Malaysia latex glovemaker Supermax Corp (7106.KU) expects to increase its exports of examination gloves to the U.S. by 5% to 7% in 2010 following the recently announced U.S. healthcare reform bill that will lead to coverage for 32 million uninsured Americans, a top exectuive said Wednesday.
"We should be able to capitalize on the demand uptake estimated at 10% to 12% per annum, or (an increase in sales of) MYR35 million to MYR40 million," Executive Chairman and Managing Director Stanley Thai said on the sidelines of the Invest Malaysia conference.
The group's exports to the U.S. currently account for 42% of total sales, he said.
Supermax will have the capability to produce 17.58 billion gloves by Dec. 31 after its ninth manufacturing plant that will have an annual capacity of 2.3 billion comes onstream in April, he added.
DJ MARKET TALK: Affin Raises MRCB Target To MYR1.92; Keeps Buy
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0306 GMT [Dow Jones] STOCK CALL: Affin Investment keeps Malaysian Resources Corp (1651.KU) at Buy, raises target to MYR1.92 from MYR1.77 on improved prospects, as property developer likely to be among key beneficiaries of plans by government to develop 3000 acres of land in Sungei Buloh, near Kuala Lumpur. Prime Minister Najib says at Invest Malaysia conference Tuesday government will partner Employees Provident Fund (EPF) to develop land into "new hub" for central Klang Valley, expects MYR5 billion in new investment. Analyst Kevin Low says MRCB could be beneficiary as EPF holds 39.1% stake; notes firm on lookout for new strategic land bank after completion of its KL Sentral development in 2013, also raised MYR380 million from the recent rights issue. "We estimate that a one-third share in a MYR5 billion development at a pretax margin of 20% would enhance MRCB's RNAV by 17 sen, from MYR1.92 currently to MYR2.09," says Low. Stock +4.4% at MYR1.66
*DJ Astro All Asia Downgraded To Neutral From Buy By OSK Research
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