KUALA LUMPUR: UOB Kay Hian Malaysia Research expects the merger between Celcom and Digi to realise annual cost savings of RM500mil when it crystalises.
KUALA LUMPUR: In the event of a mandatory general offer (MGO) for shares in IJM Plantations Bhd by Kuala Lumpur Kepong Bhd (KLK), Kenanga Research has recommended stakeholders accept the proposed offer given its premium valuations.
UOB Kay Hian Research said a potential developing corporate event is Top Glove’s withhold release order (WRO) by the US Customs and Border Protection (CBP).
KUALA LUMPUR: The surge in Top Glove’s American Depository Receipt (ADR), which trades on the Nasdaq Stock Exchange, is an “anomaly or outlier” which could boost investor sentiment towards the shares.
According to a research note on Monday by UOB Kay Hian Malaysia Research, it retained its Hold call and target price of RM5.15 as it did not expect the 69% surge of the ADR to see a similar surge om Bursa Malaysia.
“To reiterate, we opine that this development does not fundamentally reflect Top Glove’s fundamentals, ” it said, commenting on the price of the ADR which had last Friday jumped 69% to US$7.50 from US$4.45.
KUALA LUMPUR: Malaysian Real Estate Investment Trusts (REIT) could be poised for a strong recovery following the end of the current movement restrictions, underpinned by pent-up consumer demand.