Top Stories
Company Update | Yinson Holdings (YNS MK/BUY/RM1.92 /Target: RM2.40)
Contrary to the IFRS accounts revealed in Jun 26, the Enterprise Reporting disclosure shows a lower-than-expected profit in 1QFY27. Yinson Production attributed the increased opex to higher tender costs, which may reflect changes in the FPSO bidding environment. Although we cut FY27F-29 earnings forecasts by 17%/24%/16% respectively, we believe Yinson Holdings will be able to adapt. As long as its project execution remains better than its peers, we retain BUY, with SOTPbased target price adjusted to RM2.40 (from RM2.75).
Market Spotlight
- The FBMKLCI increased 6.95pt (+0.58%) to close at 1,698.44 yesterday following late buying in index-linked counters.
- US stocks were lower after the close on Monday, as losses in the technology, industrials and consumer goods sectors led shares lower.
Technical Analysis
FBMKLCI, FCPO & FKLI Index Outlook
Traders’ Corner
Ancom Nylex | ANCOMNY MK
Trading Buy Range: RM0.87-0.875
Awanbiru Technology | AWTC MK
Trading Buy Range: RM0.25-0.28
CSC Steel Holdings | CSCS MK
Trading Buy Range: RM1.27-1.28
Top Stories
Company Update | Yinson Holdings (YNS MK/BUY/RM1.92 /Target: RM2.40)
Contrary to the IFRS accounts revealed in Jun 26, the Enterprise Reporting disclosure shows a lower-than-expected profit in 1QFY27. Yinson Production attributed the increased opex to higher tender costs, which may reflect changes in the FPSO bidding environment. Although we cut FY27F-29 earnings forecasts by 17%/24%/16% respectively, we believe Yinson Holdings will be able to adapt. As long as its project execution remains better than its peers, we retain BUY, with SOTPbased target price adjusted to RM2.40 (from RM2.75).
Market Spotlight
- The FBMKLCI increased 6.95pt (+0.58%) to close at 1,698.44 yesterday following late buying in index-linked counters.
- US stocks were lower after the close on Monday, as losses in the technology, industrials and consumer goods sectors led shares lower.
Technical Analysis
FBMKLCI, FCPO & FKLI Index Outlook
Traders’ Corner
Ancom Nylex | ANCOMNY MK
Trading Buy Range: RM0.87-0.875
Awanbiru Technology | AWTC MK
Trading Buy Range: RM0.25-0.28
CSC Steel Holdings | CSCS MK
Trading Buy Range: RM1.27-1.28
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