Reuters: Hot Stocks: STOCKS NEWS MALAYSIA-TA maintains buy on Pantech

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STOCKS NEWS MALAYSIA-TA maintains buy on Pantech May 2nd 2012, 01:57 Tue May 1, 2012 9:57pm EDT TA Research maintained buy on steel fittings firm Pantech Group Holdings Bhd with a target price of 70 sen, citing improving business outlook despite fiscal year ending Feb 29 (FY2012)'s earnings came below consensus expectations. "The company's carbon steel division has orders until end of this calendar year and is currently ramping up capacity to meet rising demand, especially from the oil and gas sector," the broker said in a research note on Wednesday. TA said Pantech can capitalises on its unit Nautic Steel Ltd's strength in milling, machining and welding of tube and pipe fittings in special metals with so much investments planned by the oil majors for the domestic oil and gas sector. By 949 am (0150 GMT), Pantech shares rose 5.77 percent, outperforming the Malaysia's benchmark stock index that climbed 0.32 percent. 0955 (0155 GMT) (Reporting by Yantoultra Ngui in Kuala Lumpur; yantoultra.ngui@thomsonreuters.com) **************************************************************** 09:31 STOCKS NEWS MALAYSIA-Maybank raises BIMB target price Maybank Investment raised the target price of Islamic lender BIMB Holdings to 2.95 ringgit ($0.97)per share from 2.55 ringgit on higher valuations and rising profitability. The investment bank said it expects Bank Islam net profit to rise in 2012-2013 due to an upward revision in fee incomes. There is also growth potential from its Indonesian operations, which are still in their infancy, Maybank Investment said. "We expect Bank Islam to register relatively healthy return on equity of 12.6 percent in 2012 and 13 percent in 2013," Maybank Investment analyst Desmond Ch'ng said in a note to clients. "Coupled with the fact that the bank still has much room to gear up given it is well capitalised and has a highly liquid balance sheet, the higher valuations are justified." 0930 (0130 GMT) (Reporting by Niluksi Koswanage in Kuala Lumpur; niki.koswanage@thomsonreuters.com) Link this Share this Digg this Email Reprints

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