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MY : Wellcall Holdings - FY9/23F: Higher export sales on the cards

We came away positive from Wellcall’s FY9/22 briefing given robust demand for global industrial rubber hose and better labour availability. Wellcall is expecting double-digit sales growth in FY23F, driven by higher export sales, increase in produ....
CGS-CIMB Walter
Walter Aw @ CGS-CIMB 9 December 2022

MY : Bermaz Auto Berhad - Pedal to the metal

1HFY23 results trumped expectations at 63%/62% of our/consensus FY23F core NP due to higher EBIT margin from Malaysian operations in 2QFY23. Core NP rose 3x yoy in 1HFY23 on stronger sales volume and higher share of associate profit. Second inter....
CGS-CIMB Mohd Shanaz
Mohd Shanaz Noor Azam @ CGS-CIMB 9 December 2022

MY : Malaysia Daybreak | 9 December 2022

CGS-CIMB Ivy
Ivy Ng Lee @ CGS-CIMB 9 December 2022

MY : Petrochemical - Outlook may remain weak in 2023F

Reiterate Underweight on the Malaysian petrochemical sector, with Reduce calls for both LCT and PCG, as price dynamics remain under pressure. Between the two, we prefer PCG as it enjoys preferential feedstock costs and exposure to the historically-s....
CGS-CIMB Raymond
Raymond Yap @ CGS-CIMB 8 December 2022

MY : Tenaga Nasional - Upcoming ICPT amount could be RM16.4bn

TNB guided for the upcoming ICPT amount to be higher at c.RM16.4bn in 1H23F vs. RM7bn in 2H22. TNB aims to declare dividends towards the higher end of its 30-60% dividend policy, which could translate to dividend yields of >5% in FY22-24F.  
CGS-CIMB Siew Teng
Siew Teng Ngo @ CGS-CIMB 8 December 2022

MY : Malaysia Daybreak | 8 December 2022

CGS-CIMB Ivy
Ivy Ng Lee @ CGS-CIMB 8 December 2022