Maybank - 3Q Results

Summary :-
1)Revenue for 9 months ending 31/03/2010 gained 8.61% to RM13.82B. 
2)Pretax profit expanded 60.71% to RM4.01B.
3)Net profit advanced 60.53% to RM2.91B.
4)Net Earning per share were 41.05 cents
5) No Dividend declared.

Our rating :
Buy/Hold

SIME Darby : Cost Overruns

Sime Darby announced that it will recognize RM964m in losses due to cost overruns related to the following projects:-

a) Qatar Petroleum Project
b) Maersk Oil Qatar project
c) Vessel Construction for the Maersk Project
d) Bakun dam.

Effect
1)A knock on 2H Earnings
2)CEO Zubir on leave of absense
3)Victim of 'diworsification"?

Rating :
Maintain Sell with TP of RM6.95

JP Morgan Research : GENTING SINGAPORE

UOB Kayhian Research on GENTING SP
http://hotfile.com/dl/42500248/4cc8597/Regional_Morning_Notes_1105101.pdf.html

JP Morgan Research on GENTING SP
http://hotfile.com/dl/42499928/b1e8f28/Genting-JPM_100510.pdf.html

Good Luck!

Genting Singapore (G13.SG) - 13 May 2010 Quarterly Result Announcement

Genting Singapore (G13.SG) pares gains, flat at $0.96 vs $0.975 (+1.6%) earlier, mirroring sluggish performance by most other STI components, according to Dow Jones.

Having rebounded 12.9% from April bottom of $0.85, recent buying activity has been subdued, with volume dwindling since last Thursday. With gaming group’s 1Q10 results due May 13, any further upside likely to be minimal pending management update on Resorts World Sentosa’s performance since opening earlier this year.

“Shares could trend higher on the release of potentially strong results on 13 May, but shares could also ease thereafter on concerns of RWS’ ability to sustain results,” says UOB KayHian, which has Sell call with $0.88 target; forecasts net profit of $50 million, suggests selling on recent strength.

Orderbook quotes suggest minimal upside beyond $0.98.

(Source: The Edge Singapore)

No tsunami threat to Malaysia

In George Town, tremors from the earthquake sent Penangites rushing out of high-rise residential buildings and shopping complexes in panic.
Audience in a movie theatre located in a shopping mall here were also evacuated, around 2.10pm.
Bayan Lepas Meteorological Office director Loh Eng Kee, who is in charge of operations in the northern states, urged the public not to panic as there was "nothing to worry about."

"The earthquake is many kilometres away from us," he said.
The location of the quake was reported to be 510km southwest of Bayan Lepas.