Top Stories
Company Results | Eco-Shop Marketing (ECOSHOP MK/BUY/RM1.49/Target: RM1.70)
Earnings are within expectations as SSSG appears to have reached an inflection point. Gross margins improved amid Middle East spillover cost filtering through but opex increased due to seasonal staff-related expenses. Maintain BUY as Eco-Shop offers attractive growth, underpinned by its store expansion rollout. Target price remains unchanged at RM1.70.
Company Results | IGB REIT (IGBREIT MK/BUY/RM2.71/Target: RM3.16)
2Q26 results were ahead of our expectations. IGB REIT declared a dividend of 3.44 sen, representing an annualised distribution yield of 5.1%. Management maintained its mid-single-digit reversion guidance for 2026, while we expect MVS to outperform the portfolio’s reversion guidance and benefit from robust cross-border spending by Singaporeans. Upgrade from HOLD to BUY with a higher target price of RM3.16 as we adjust our DPU forecast upwards by 5-7%.
Market Spotlight
- The FBMKLCI continued to slide lower for the third consecutive days by 9.00pt to close at 1,711.37 yesterday amid persistent selling pressure in index-linked counters.
- US stocks were lower after the close on Wednesday, as losses in the consumer services, healthcare and technology sectors led shares lower.
Technical Analysis
FBMKLCI, FCPO & FKLI Index Outlook
Traders’ Corner
KESM Industries | KESM MK
Trading Buy Range: RM4.20-4.25
KJTS Group | KJTS MK
Trading Buy Range: RM0.815-0.82
MGB | MGB MK
Trading Buy Range: RM0.445-0.45
Top Stories
Company Results | Eco-Shop Marketing (ECOSHOP MK/BUY/RM1.49/Target: RM1.70)
Earnings are within expectations as SSSG appears to have reached an inflection point. Gross margins improved amid Middle East spillover cost filtering through but opex increased due to seasonal staff-related expenses. Maintain BUY as Eco-Shop offers attractive growth, underpinned by its store expansion rollout. Target price remains unchanged at RM1.70.
Company Results | IGB REIT (IGBREIT MK/BUY/RM2.71/Target: RM3.16)
2Q26 results were ahead of our expectations. IGB REIT declared a dividend of 3.44 sen, representing an annualised distribution yield of 5.1%. Management maintained its mid-single-digit reversion guidance for 2026, while we expect MVS to outperform the portfolio’s reversion guidance and benefit from robust cross-border spending by Singaporeans. Upgrade from HOLD to BUY with a higher target price of RM3.16 as we adjust our DPU forecast upwards by 5-7%.
Market Spotlight
- The FBMKLCI continued to slide lower for the third consecutive days by 9.00pt to close at 1,711.37 yesterday amid persistent selling pressure in index-linked counters.
- US stocks were lower after the close on Wednesday, as losses in the consumer services, healthcare and technology sectors led shares lower.
Technical Analysis
FBMKLCI, FCPO & FKLI Index Outlook
Traders’ Corner
KESM Industries | KESM MK
Trading Buy Range: RM4.20-4.25
KJTS Group | KJTS MK
Trading Buy Range: RM0.815-0.82
MGB | MGB MK
Trading Buy Range: RM0.445-0.45
IMPORTANT NOTICE - DISCLOSURES AND DISCLAIMERS
This report is provided subject to, and must be read together with, the full Disclosures / Disclaimers available at the following link: https://research-api.uobkayhian.com/assets/disclaimer/b0eb5c9a-646b-4c58-a731-61902a719509, which are incorporated by reference into this report. In particular, this report is intended for general circulation and informational purposes only and does not constitute personal investment advice or a recommendation to buy or sell any investment product or security. You should independently evaluate the information and, where necessary, seek advice from a qualified financial adviser regarding the suitability of any investment. Analyst certifications required under applicable regulations, including SEC Regulation AC (where relevant), are included in this report. By accessing, receiving or using this report, you acknowledge that you have read, understood and agreed to be bound by the Disclosures / Disclaimers, as may be amended, supplemented or updated from time to time.
