*Maybank IBG Kopi-O (7 Jan 2022)*
Nikkei 28487.9 -2.88%
Kospi 2920.5 -1.13%
SSE 3586.1 -0.25%
HSI 23072.9 0.72%
TWSE 18367.9 -0.71%
SET 1653.0 -1.42%
JCI 6653.4 -0.13%
STI 3184.3 0.66%
KLCI 1533.4 -0.94%
*Maybank IBG Key Calls*
*Genting Malaysia - No place like home*
Conversations with channel checks reveal that RWG 4Q21 visitorship was robust despite the opening of Genting SkyWorlds (GS) being delayed yet again. Moreover, other indicators reveal that the upcoming Chinese New Year will be a good one for RWG. We tweak our FY21E/FY22E/FY23E earnings estimates by +2%/-5%/-6%. Maintain BUY call with a slightly lower MYR3.38 DCF-based TP (MYR3.40 previously). We continue to like GENM as a liquid recovery play.
*MY*
o The KLCI will continue to trade in a cautious mode after Wall Street slipped overnight. The absence of catalyst as well as concerns over tightening monetary policy and the omicron variant will also keep investors at bay, though pockets of opportunities can be seen in energy names amid stronger performance in Brent Crude Oil. Technically, we expect the benchmark Index to range between 1,515 and 1,540 today, with supports at 1,515 and 1,475.
o *Samaiden (SAMAIDEN MK)*: Its wholly-owned subsidiary Samaiden S/B had entered into a strategic partnership agreement with SWG Technologies (M) S/B, which is a wholly-owned subsidiary of Sinowaja (M) S/B, to collaborate in providing renewable energy solutions in Sarawak and Sabah. The agreement shall remain in force for three years. With this tie-up, it could help SAMAIDEN to strengthen its footprint in East Malaysia. Stock trades at 27.7x annualized 1QFY6/22 EPS. Warrants are out-of-the-money.
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