Results Review
DiGi.Com RM22.10: Sell
- Braced for a hyper-competitive 2010?
Positioned for yield. After bravely negotiating a year of introducing its 3G network during an economic recession, DiGi should profit from its expanded offerings in a probably more benign economy in 2010. Active capital management will offer gross dividend yields of over 9% p.a. but only 6% p.a. net profit growth over 2010-11.
Technicals
The FBM KLCI rose 3.39 points to close at 1,267.15. Its resistance areas at 1,267 and 1,290 will cap market gains, whilst the significantly weaker support areas for the FBM KLCI are located at 1,253 and 1,265. Due to the Dow’s decline of 26.30 points, we expect the FBM KLCI to remain unstable to lower today. Our stock pick for today is a technical “TAKE PROFIT” call for SIME.
The FBM KLCI rose 3.39 points to close at 1,267.15. Its resistance areas at 1,267 and 1,290 will cap market gains, whilst the significantly weaker support areas for the FBM KLCI are located at 1,253 and 1,265. Due to the Dow’s decline of 26.30 points, we expect the FBM KLCI to remain unstable to lower today. Our stock pick for today is a technical “TAKE PROFIT” call for SIME.
Other Local News
AirAsia: AirAsia X Signs MRO deal with Lufthansa Technik Philippines
EON Cap: Changes imminent in board
IGB: Said to be in talks to sell Ampwalk
Iris: JV wins RM260m Bangladesh job
L&G: Plans to launch RM1.5b projects this year
Metro Kajang: Proposes 1-for-20 bonus issue
Petronas: Shamsul appointed as new chief
Sime Darby, Ramunia: Delays Teluk Ramunia acquisition/disposal
Outside Malaysia
U.S: Service industries grow at slower pace than forecast in January
U.S: Companies cut 22,000 jobs in January, fewest in two years, ADP says
U.S: MBA mortgage applications index increased last week
E.U: Backs Greek deficit plan; Papandreou offers cuts
U.K: Nationwide consumer confidence rose in January
China: Sells 1st 10-year debt of 2010 at lower yields
AirAsia: AirAsia X Signs MRO deal with Lufthansa Technik Philippines
EON Cap: Changes imminent in board
IGB: Said to be in talks to sell Ampwalk
Iris: JV wins RM260m Bangladesh job
L&G: Plans to launch RM1.5b projects this year
Metro Kajang: Proposes 1-for-20 bonus issue
Petronas: Shamsul appointed as new chief
Sime Darby, Ramunia: Delays Teluk Ramunia acquisition/disposal
Outside Malaysia
U.S: Service industries grow at slower pace than forecast in January
U.S: Companies cut 22,000 jobs in January, fewest in two years, ADP says
U.S: MBA mortgage applications index increased last week
E.U: Backs Greek deficit plan; Papandreou offers cuts
U.K: Nationwide consumer confidence rose in January
China: Sells 1st 10-year debt of 2010 at lower yields
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