RHBRI’s Monthly Stock Watch : Special Focus : Earnings Beat Our Expectation; But Global Recovery Fears Persist - 03/09/2010

We have cut our target PER for Adventa to 11x (from 13x), following the cut in Top Glove’s target PER to 15x (from 17x). As a result, our fair value has been lowered to
RM4.16 (from RM4.92).

RHBRI’s Monthly Stock Watch : Special Focus : Earnings Beat Our Expectation; But Global Recovery Fears Pers...

RHBRI’s Monthly Stock Watch : Special Focus : Banking Sector - 30/07/2010

We lowered our FY10-11 revenue projections by 1.2-1.5% after factoring in a slight delay in expansion plans. At the same time, we also lowered our FY10-11 EBITDA margin assumptions by 1.1-1.2%- pts, to reflect the time lag in passing on the cost increase to consumers.

RHBRI’s Monthly Stock Watch : Special Focus : Banking Sector - 30/07/2010