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KUALA LUMPUR (Dec 17): CGS-CIMB has overweight ratings on bank, healthcare, gaming, oil and gas, electronics manufacturing services (EMS), media and rubber gloves sectors, and underweight ratings on chemicals and transport.
The research house said in a report that it likes the bank, gaming, oil and gas, EMS and media sectors for exposure to a recovering economy post-Covid-19.
“We continue to like the gloves sector, as it is expected to deliver record earnings in 2021 due to strong demand for gloves following the Covid-19 outbreak.
“However, as we had cautioned earlier, the key risk is that the rubber gloves is now a crowded trade given its stellar share price performance in 9M20 (first nine months of 2020). This, coupled with concerns over the treatment of its workers and potential new capacities coming on stream, has led investors to rotate out of the gloves sector into banks,” it said.
Tuesday, 15 Dec 2020 11:02 PM MYT
MAHB said passenger movement at Kuala Lumpur International Airport (KLIA) recorded a decline of 97.8 per cent YoY to 113,000 in November, while klia2 recorded 31,000 passengers, a decline of 98.8 per cent YoY. Picture by Shafwan Zaidon
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KUALA LUMPUR, Dec 15 Passenger movement at Malaysia Airports Holdings Bhd’s network of airports declined 84.2 per cent year-on-year (YoY) to 1.8 million for November 2020, against 11.55 million previously with the extension of the conditional movement control order (CMCO).
Domestic passenger movement declined 78.3 per cent YoY to 1.3 million in the month under review, while international passenger movement dropped 90.6 per cent YoY to merely 0.5 million passengers.
KUALA LUMPUR (Dec 16): AmInvestment Bank estimated that the FBM KLCI will hit 1,770 points at end-2021, based on 17.5 times its 2021 earnings projections or an increase of 45.9%.
The research house’s head of equity research Joshua Ng said in a report today the outlook for equity markets globally, with Malaysia included, is positive for 2021, driven largely by optimism about a synchronised global economic recovery as the world emerges from the Covid-19 pandemic.
He believes the recovery-focused investment theme from end-2020 will extend well into 2021.
“Investors will continue to accumulate recovery plays, i.e. fundamentally strong names in the banking, power, oil and gas (O&G), consumer, REIT (real estate investment trust) and transport sectors, while lightening their positions in pandemic plays, i.e. glove makers and selected excessively priced technology names,” he said.