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Naveed Majeed
Analyst @ Asia Securities
Naveed Majeed is currently Vice President – Research at Asia Securities, covering the construction, energy, manufacturing and textile sectors. He joined the team in April 2017. Prior to this, he worked for the Projects and Transitions team at Moody’s Analytics’ Knowledge Services (formerly known as Amba Research Lanka) in the capacity of a Lead Financial Analyst.
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Latest articles from Naveed Majeed
Flash Report /
Global
Sri Lanka: Macro & Equity Update - Rate Cap Removed; Equities To Remain Favoured
Yield cap removal key corrective policy move; we forecast 1-yr yields at approx. 7.50% by year end. Yields have gradually increased but, issuances have gone under-subscribed. Low real interest rates to continue to favour equities in the near to mediu...
Lakshini Fernando @ Asia Securities 21 September 2021
Flash Report /
Global
Sri Lanka: Import controls positive/neutral for listed corporates
The Central Bank (CB) imposed fresh restrictions on imports at the last monetary Board meeting held earlier this week. As such, the CB imposed a 100% non-interest bearing cash margin deposit for over 600 import product categories under “non-essential...
Lakshini Fernando @ Asia Securities 13 September 2021
Asiri Hospitals Holdings: 1Q FY22 - New revenue streams to support growth in FY22E
We maintain our target price of LKR 37.00/share based on a DCF valuation (13.9% WACC). For FY22E, we expect COVID-19 services to sustain topline supported by a recovery in demand for non-urgent surgeries. Revenues surpassed their previous quarter hig...
Naveed Majeed @ Asia Securities 3 September 2021
John Keells Holdings: An ecosystem transformation unlocking unrealized value
We assign a BUY rating on JKH with an FY-22E TP of LKR 220.00 (upside of 69.2% and TSR of 71.5%). Several of the company’s core businesses enjoy long-term market leadership positions, and are well positioned to benefit from long-term growth in the mo...
Naveed Majeed @ Asia Securities 1 September 2021
Lion Brewery Ceylon: 1Q FY22 - Valuations attractive; however, likely taxes a threat
We value LION at a revised TP of LKR 655/share (-6.4% to old; +19.1% upside, +20.4% TSR). Revenues came in at LKR 10.6bn, down 28.5% QoQ (+63.5% YoY) as travel restrictions resulted in the closure of liquor outlets for an extended period. Looking ahe...
Naveed Majeed @ Asia Securities 26 August 2021
Distilleries Company of Sri Lanka: 1Q FY22 - FY22E to remain challenging amidst lower demand
We downgrade DIST to a HOLD with a revised target price of LKR 20.00/share (-23.1% to old; +7.5% upside). Looking ahead, we expect FY22E to remain challenging as 1) lower incomes lead to reduced consumption of legal spirits and 2) demand from the HOR...
Naveed Majeed @ Asia Securities 24 August 2021
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Hemas Holdings
