Key Indices
Top Stories
Company Results | Sunway REIT (SREIT MK/BUY/RM2.15/Target: RM2.80)
- 2Q26 results were within our expectations. A DPU of 6.28 sen was declared for 1H26. Retail and hotel revenue saw solid 11%/8% yoy growth respectively in 2Q26. Looking ahead, management expects mid-single-digit retail reversion, while hotels in Bandar Sunway benefit from forward group bookings and the F1 event at Sepang. Maintain BUY with an unchanged target price of RM2.80. The potential Sunway Velocity Mall injection, alongside further retail and industrial acquisitions, should support SREIT’s portfolio expansion towards RM14b-15b by 2027.
Company Results | VSTECS (VST MK/BUY/RM1.75/Target: RM2.26)
- VSTECS’ 2Q26 earnings came in strong on robust growth across all three business segments. We expect the growth momentum to extend into 2H26, underpinned by resilient demand in the ICT distribution segment alongside continued public sector spending despite longer large project delivery timelines. Maintain BUY with a revised target price of RM2.26 (previously RM1.70 ex-bonus), pegged to 20x 2027F PE.
Market Spotlight
- The FBMKLCI rose 10.15pt (+0.2%) to close at 1,741.61 yesterday, in a technical rebound after a few consecutive days of losses.
- US stocks were mixed after the close on Wednesday, as gains in the technology, utilities and healthcare sectors led shares higher while losses in the basic materials, consumer goods and consumer services sectors led shares lower.
Technical Analysis
FBMKLCI, FCPO & FKLI Index Outlook
Traders’ Corner
Jati Tinggi Group | JTGROUP MK
- Trading Buy Range: RM0.82-0.86
Malaysia Steel Works (KL) | MSW MK
- Trading Buy Range: RM0.245-0.25
Malakoff Corporation | MLK MK
- Trading Buy Range: RM0.86-0.865
Top Stories
Company Results | Sunway REIT (SREIT MK/BUY/RM2.15/Target: RM2.80)
- 2Q26 results were within our expectations. A DPU of 6.28 sen was declared for 1H26. Retail and hotel revenue saw solid 11%/8% yoy growth respectively in 2Q26. Looking ahead, management expects mid-single-digit retail reversion, while hotels in Bandar Sunway benefit from forward group bookings and the F1 event at Sepang. Maintain BUY with an unchanged target price of RM2.80. The potential Sunway Velocity Mall injection, alongside further retail and industrial acquisitions, should support SREIT’s portfolio expansion towards RM14b-15b by 2027.
Company Results | VSTECS (VST MK/BUY/RM1.75/Target: RM2.26)
- VSTECS’ 2Q26 earnings came in strong on robust growth across all three business segments. We expect the growth momentum to extend into 2H26, underpinned by resilient demand in the ICT distribution segment alongside continued public sector spending despite longer large project delivery timelines. Maintain BUY with a revised target price of RM2.26 (previously RM1.70 ex-bonus), pegged to 20x 2027F PE.
Market Spotlight
- The FBMKLCI rose 10.15pt (+0.2%) to close at 1,741.61 yesterday, in a technical rebound after a few consecutive days of losses.
- US stocks were mixed after the close on Wednesday, as gains in the technology, utilities and healthcare sectors led shares higher while losses in the basic materials, consumer goods and consumer services sectors led shares lower.
Technical Analysis
FBMKLCI, FCPO & FKLI Index Outlook
Traders’ Corner
Jati Tinggi Group | JTGROUP MK
- Trading Buy Range: RM0.82-0.86
Malaysia Steel Works (KL) | MSW MK
- Trading Buy Range: RM0.245-0.25
Malakoff Corporation | MLK MK
- Trading Buy Range: RM0.86-0.865
Key Indices
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