Key Indices
Top Stories
Sector Update | Plantation
- MPOB's Aug 26 data showed palm oil inventories rising for the fifth consecutive month to an August record of 2.82m tonnes, with the pace of the build rising to 7.5% mom as a 7.5% mom decline in exports outweighed a modest 1.4% rise in production. The stock/usage ratio deteriorated to 1.69x, reversing two months of improvement. Maintain OVERWEIGHT on the sector, underpinned by structural demand growth from the expansion of regional biofuel mandates.
Company Results | Bermaz Auto (BAUTO MK/BUY/RM0.93/Target: RM1.30)
- Bermaz delivered another strong set of results, with 1QFY27 core net profit of RM41.8m exceeding our expectations, driven by sustained healthy margin and higher vehicle sales. Despite a modest decline in backlog orders, we expect Mazda sales to remain resilient supported by the upcoming launch of new CX-5. Maintain BUY with a higher target price of RM1.30 (RM1.14 previously).
Market Spotlight
- The FBMKLCI declined 8.82pt to close at 1,705.52 yesterday, weighed down by selling pressure in selected heavyweights and index-linked counters.
- US stocks were lower after the close on Thursday, as losses in the basic materials, utilities and industrials sectors led shares lower.
Tehnical Analysis
FBMKLCI, FCPO & FKLI Index Outlook
Traders’ Corner
D&O Green Technologies | DOGT MK
- Trading Buy Range: RM0.455-0.46
Malaysia Marine & Heavy Engineering Holdings | MMHE MK
- Trading Buy Range: RM0.395-0.40
Malaysia Smelting Corporation | SMELT MK
- Trading Buy Range: RM1.81-1.82
Top Stories
Sector Update | Plantation
- MPOB's Aug 26 data showed palm oil inventories rising for the fifth consecutive month to an August record of 2.82m tonnes, with the pace of the build rising to 7.5% mom as a 7.5% mom decline in exports outweighed a modest 1.4% rise in production. The stock/usage ratio deteriorated to 1.69x, reversing two months of improvement. Maintain OVERWEIGHT on the sector, underpinned by structural demand growth from the expansion of regional biofuel mandates.
Company Results | Bermaz Auto (BAUTO MK/BUY/RM0.93/Target: RM1.30)
- Bermaz delivered another strong set of results, with 1QFY27 core net profit of RM41.8m exceeding our expectations, driven by sustained healthy margin and higher vehicle sales. Despite a modest decline in backlog orders, we expect Mazda sales to remain resilient supported by the upcoming launch of new CX-5. Maintain BUY with a higher target price of RM1.30 (RM1.14 previously).
Market Spotlight
- The FBMKLCI declined 8.82pt to close at 1,705.52 yesterday, weighed down by selling pressure in selected heavyweights and index-linked counters.
- US stocks were lower after the close on Thursday, as losses in the basic materials, utilities and industrials sectors led shares lower.
Tehnical Analysis
FBMKLCI, FCPO & FKLI Index Outlook
Traders’ Corner
D&O Green Technologies | DOGT MK
- Trading Buy Range: RM0.455-0.46
Malaysia Marine & Heavy Engineering Holdings | MMHE MK
- Trading Buy Range: RM0.395-0.40
Malaysia Smelting Corporation | SMELT MK
- Trading Buy Range: RM1.81-1.82
Key Indices
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