*Maybank IBG Kopi-O (28 Jan 2022)*
Nikkei 26170.3 -3.11%
Kospi 2614.5 -3.50%
SSE 3394.2 -1.78%
HSI 23807.0 -1.99%
TWSE 17674.4 -
SET 1634.2 -0.56%
JCI 6611.2 0.16%
STI 3260.0 -0.35%
KLCI 1516.0 0.02%
*Maybank IBG Key Calls*
*Genting Malaysia - Pre-opening sneak preview of Genting SkyWorlds*
We attended a preview of Genting SkyWorlds organized by GENM. All in all, we rate GS highly. Special mention goes to the Independence Day Defiance attraction. Even though we expect GS to be loss-generating due to heavy depreciation, we are confident that it will draw the crowds (whether gaming or non-gaming) and be net positive for GENM. We maintain our estimates, BUY call and MYR3.38 DCF-based TP on GENM.
*MY*
o Despite yesterday’s gain, domestic sentiment will remain cautious ahead of the Chinese New Year celebration as investors and traders will take a more prudent stance in the holiday-shortened week ahead. Technically, we expect the KLCI to range between 1,505pts and 1,535pts today, with supports at 1,500pts and 1,475pts.
o *Uzma (UZMA MK)*: Its wholly-owned subsidiary Uzma Engineering S/B was awarded a call-off order valued at approximately MYR30m by EnQuest Petroleum Production Malaysia Ltd to provide hydraulic workover unit for 2022 workover program. The campaign will cover up to three platforms and up to 12 wells operated by EnQuest. The latest award is welcomed as it will help to replenish its order book which stood at MYR2.3b at end-Sep 2021. Stock trades at 5.6x consensus FY6/23 EPS. Net gearing stood at 0.8x at end-Sep 2021.
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