Stocks to watch: Affin, Sarawak Plantations, Mitrajaya, Nilai Resources, Notion VTec

KUALA LUMPUR (Feb 21): As the corporate reporting season picks up pace, there seem to be a mixed bag of results, with banks and PLANTATION []s providing slight upside compared with the other sectors.

AFFIN HOLDINGS BHD []’s earnings rose 4.7% to RM132.54 million in the quarter ended Dec 31, 2011 from RM126.57 million a year ago. Its revenue increased by 14.4% to RM709.81 million from RM620.54 million. Earnings per share were 8.87 sen compared with 8.47 sen.

For the financial year ended Dec 31, 2011, the banking group said it recorded its best ever performance so far, with record profit before tax (PBT) of RM709.1 million compared with RM637.5 million in 2010. This was a RM76.1 million or 11.2% increase.

SARAWAK PLANTATION BHD [] posted net profit of RM19.66 million in the fourth quarter ended Dec 31, 2011, up 139% from the RM34.35 million a year ago when there was impairment losses of RM10.60 million. Revenue fell 3.4% to RM111.62 million from RM115.61 million a year ago. Its administrative expenses declined to RM8.83 million from RM18.60 million

For FY11, Affin said the earnings rose 139% to RM82.24 million from RM34.35 million. Revenue increased by 40.6% to RM479.36 million from RM340.83 million following the increase of revenue from the oil palm operations segment.

MITRAJAYA HOLDINGS BHD [] has secured three projects valued at RM181.55 million, of which two are for the light rail transit (LRT) contracts and one for a housing project in Putrajaya.

The major shareholders of Nilai Resources Group Bhd have proposed a selective capital repayment (SCR) of RM1.50 a share, which is a premium of 20 sen above the Feb 17 closing price of RM1.30.

The major shareholders are Akarmas Sdn Bhd and Tan Sri Dr Gan Kong Seng who collectively hold 62.937 million shares or 55.1% equity, who will not be entitled to the SCR.

NOTION VTEC BHD [] has proposed a bonus issue of up to 138.91 million new shares on the basis of three bonus shares for every four existing shares held.

It reported net losses of RM4.83million in the first quarter ended Dec 31, 2011 compared with net profit of RM13.41 million a year ago. Its revenue fell 33.9% to RM39.63 million from RM59.98 million. Its loss per share was 3.13 sen compared with earnings per share of 8.79 sen.

ESSO MALAYSIA BHD []’s earnings fell 71.5% to RM34.58 million in the fourth quarter ended Dec 31, 2011 from RM121.51 million a year ago. Its revenue was 16.5% higher at RM2.75 billion compared with RM2.359 billion a year ago. Earnings per share were 12.80 sen compared with 45 sen.

For the financial year ended Dec 31, 2011, it reported a 42.9% decline in earnings to RM153.35 million from RM268.58 million in FY10. Revenue, however, increased 33.6% to RM11.26 billion from RM8.42 billion.

POS MALAYSIA BHD [] recorded net profit of RM25.06 million in the October-December quarter in 2011 compared with RM6.08 million a year ago mainly due to a provision of investment and a one-off impairment provision. It said revenue increased by 4.4% to RM289.63 million from RM277.33 million.

In the 12-month period from January to December 2011, its earnings rose about 66.8% to RM112 million from RM67.11 million. Its revenue increased 15.6% to RM1.173billion from RM1.014 billion.

The group’s profit from operations rose 38.2% to RM146.0 million (2010: RM105.7 million) for the period ended Dec 31, 2011, due to the full year impact of domestic tariff increase commencing July 1, 2010 coupled with the benefits realized from transformation initiatives.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

Pos Malaysia records RM25m net profit in Oct-December quarter

KUALA LUMPUR (Feb 20): POS MALAYSIA BHD [] recorded net profit of RM25.06 million in the October-December quarter in 2011 compared with RM6.08 million a year ago mainly due to a provision of investment and a one-off impairment provision while there was none in 2011.

It said on Monday that revenue increased by 4.4% to RM289.63 million from RM277.33 million. Earnings per share were 4.67 sen compared with 1.13 sen.

“Against the corresponding quarter previous year, the group registered a decrease of 17.3% in profit from operations of RM21.5 million (2010: RM26.0 million) for the quarter ended Dec 31, 2011, attributed to higher operating expenses by 6.7% despite increase in revenue by 4.4%.

“Higher operating expenses due to higher depreciation and amortization charges by 37.9% due to higher depreciation on National Mail Centre building and plant and machinery, higher transportation costs by 14.3% as a result of higher jet fuel price and revision of flying hours rate by 3.0% and increase in staff costs by 2.0% due to salary revision in January 2011.

“The group profit before taxation was higher by RM17.3 million compared to the corresponding quarter previous year as a result of provision of the investment in Transmile Group Berhad (TGB) and one-off impairment provision relating to capital expenditure incurred for the postal counter whereas none was recorded during current year,” it said.

Pos Malaysia, which changed its financial year ending to March 31, 2012, said that in the 12-month period from January to December 2011, its earnings rose about 66.8% to RM112 million from RM67.11 million. Its revenue increased 15.6% to RM1.173billion from RM1.014 billion.

The group’s profit from operations rose 38.2% to RM146.0 million (2010: RM105.7 million) for the period ended Dec 31, 2011, due to the full year impact of domestic tariff increase commencing July1, 2010 coupled with the benefits realized from transformation initiatives.

“The group recorded a higher profit before taxation by RM56.8 million or 57.3% mainly due to higher operating profit as mentioned above and lower impairment loss for financial asset designated as available for sale (that is investment in TRANSMILE GROUP BHD [] ) of RM10.3 million as compared to RM25.1 million in the preceding year.

“In prior year, there was one-off impairment provision relating to capital expenditure incurred for the postal counter system (classified under property, plant and equipment) of RM22.3 million, cushioned by write back of impairment in value of RM15.5 million,” it said.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

Article put me in negative light, says ex-Pos Malaysia chairman

KUALA LUMPUR: Former Pos Malaysia non-executive chairman Tan Sri Adam Kadir told the High Court on Tuesday in a defamation suit that he believes certain words used in an article had cast a negative light on him.

In the suit against The Edge Communications Sdn Bhd, Adam alleged that in an article in The Edge Financial Daily on June 18, 2008 entitled “Adam resigns ahead of Pos Malaysia AGM”, the sentence “It is believed that the disagreement between the two parties ranged from the disposal of land to the awarding of contracts” was published in bad faith.

The Edge Communications publishes The Edge Financial Daily as well as business weekly The Edge Malaysia.

The story was published a day before the said AGM.

However, he admitted during cross-examination by The Edge Communications’ counsel Raja Eileen Soraya Raja Aman that a letter he sent to The Edge after the publication of the June 18, 2008 article did not state that the said article had contained “falsehoods”.

He also agreed with Raja Eileen that the said article did not directly state that he had misused his position as chairman by getting involved in activities which resulted in losses to Pos Malaysia.

Asked why he took about two years to take action against The Edge in re-examination by his counsel Mohamed Hanipa Maidin, Adam replied: “I waited for two years because I know I have three to four years to take action.”

In his suit filed on July 15 last year, Adam named Ho Kay Tat, former editor in chief of The Edge and The Edge Financial Daily, and The Edge Communications Sdn Bhd as defendants.

According to his statement of claim, Adam said Ho had allowed The Edge Communications to publish a defamatory statement of him together with his photograph on the front page of The Edge Financial Daily on June 18, 2008.

In the statement of defence filed on Aug 15 last year, Ho and The Edge Communications claimed qualified privilege and fair comment on a matter of public interest.

Ho who is now the group managing director/CEO of Star Publications (M) Bhd testified that the article was published as a matter of public interest because Pos Malaysia is a company listed on Bursa Malaysia and its major shareholder Khazanah Nasional Bhd is the investment holding arm of the government.

“Any issues or disputes involving any one of these two companies would be a matter of public interest,” said Ho.

Khazanah was then the biggest shareholder of Pos Malaysia. In November 2010, Adam had also filed a suit against Khazanah’s managing director Tan Sri Azman Mokhtar over his dismissal from the chairman’s post. The suit has since been dismissed.

At Tuesday’s hearing, Ho also told the court that there was no record of a complaint from Adam and that he only knew that the former Pos Malaysia chairman was aggrieved over the content of the said article when he received a letter of demand dated Oct 20, 2010.

“I was surprised when I first saw the plaintiff’s letter of demand as it was only sent almost two years after the article was published,” he said.

Ho also said that Adam had been a columnist for The Edge Malaysia and his last column had been published on June 16, 2008.

In cross examination by Adam’s counsel Mohamed Hanipa Maidin, Ho disagreed that by including the words “disposal of land to the awarding of contracts”, the readers would think that Adam was involved in it.

The hearing before Justice Datuk John Louis O’Hara continues today.


This article appeared in The Edge Financial Daily, February 2, 2012.


Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

KLCI stays cautious in line with the retreat at key regional markets

KUALA LUMPUR (Jan 30): Trading on the FBM KLCI remained cautious at mid-morning on Monday, in line with the subdued sentiment at key regional markets ahead of key economic data from the US as well as developments in Europe in relation to the Greece debt issues.

At mid-morning, the 30-stock index edged up 0.56 of a point to 1,521.46.

Gainers led losers by 279 to 199, while 263 counters traded unchanged. Volume was 582.43 million shares valued at RM239.19 million.

Asian shares inched lower and the euro eased from its highest in more than six weeks on Monday, as markets cautiously tuned in to a likely debt swap deal for Greece that is crucial to avoiding a messy default and eyed another European summit meeting, according to Reuters.

World stocks fell on Friday on a slower-than-expected annualised 2.8 percent growth in the U.S. economy in the last quarter of 2011, the fastest quarterly rate in 1-1/2 years, while U.S. stocks were also weighed down by disappointing corporate results, it said.

At the regional markets, Japan’s Nikkei 225 fell 0.64% to 8,784.31, Hong Kong’s Hang Seng Index was down 0.55% to 29,388.50, the Shanghai Composite Index lost 0.91% to 2,297.96, Taiwan’s Taiex rose 2.86% to 7,440.49, South Korea’s Kospi fell 0.68% to 1,951.45 while Singapore’s Straits Time Index lost 0.91% to 2,889.79.

BIMB Securities Research in a note Monday said that a slew of developments both in the US and Europe could chart the direction of global equity markets this week.

Impending economic data plus more corporate results from the US and the European Summit may well see investors stay sidelined, it said.

As such, there were some profits taking activities ahead of this week’s events with the Dow Jones Industrial Average losing 74 points last Friday, it said.

The research house said that as for Europe, most major indices ended up in the negative territory after an across the board technical rebound on Thursday.

Regionally, most major bourses continued with their uptrend buoyed possibly by prospects of more monetary easing within the region, it said.

Nonetheless, latest move by China to maintain its SRR would disappoint some market observers and trigger some profit taking today, it said.

“Domestically, the FBM KLCI maintained its range trading activities without any headway from the lack of fresh catalysts and may test the immediate support of 1,515 today.

“Nonetheless, the stronger ringgit at RM3.04 per US$1 may be a precursor of foreign funds trickling in,” it said.

On Bursa Malaysia, privatisation targets Glenealy and Lingui were among the top gainers. Glenealy jumped 65 sen to RM7.20 while Lingui added 17 sen to RM1.53.

Other gainers included GFB that added 26 sen to RM1.47, Hartalega up 25 sen to RM7.15, Malayan Flour Mills 16 sen to RM4.13, Tradewinds PLANTATION []s 14 sen to RM4.82, Pos Malaysia 13 sen to RM2.88, Sunchirin 12 sen to RM1.77 while MBM Resources and Boustead REIT added nine sen each to RM3.78 and RM1.80.

The actives included DBE Gurney, DRB-Hicom, Hubline, Privasia, Utopia while the decliners included Nestle, Maybulk, JobStreet, KLK< Boxpak, Chin Teck, Unisem and Genting.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

KLCI advances in late trade, extends gains for fourth day

KUALA LUMPUR (Jan 12): The FBM KLCI extended its gains for the fourth consecutive day on Thursday as late buying of select blue chips, including Genting-related counters lifted the index.

At 5pm, the index rose 3.27 points to 1,525.56.

Market breadth however remained weak with losers leading gainers by 418 to 351, while 339 counters traded unchanged. Volume was 1.52 billion shares valued at RM1.58 billion.

Regional markets mostly ended lower, while European shares were flat on Thursday, pausing ahead of a Spanish debt auction that is the first test in the new year of demand for peripheral euro zone debt, the latest stage of a crisis that remains a key drag for equity market sentiment, according to Reuters.

At the regional markets, Japan’s Nikkei 225 fell 0.74% to 8,385.59, the Shanghai Composite Index lost 0.47% to 2,275.01, Hong Kong’s Hang Seng Index was down 0.30% to 19,095.38 and Taiwan’s Taiex shed 0.02% to 7,186.58 and Singapore’s Straits Times Index fell 0.13% to 2,743.66.

Meanwhile, South Korea’s Kospi rose 1.03% to 1,864.57.

On Bursa Malaysia, Genting PLANTATION []s gained 21 sen to RM9.10, Genting up 20 sen to RM10.96, Proton and Hartalega 18 sen each to RM5.46 and RM6.40, Bursa Malaysia 17 sen to RM7.03, Malayan Flour Mills 15 sen to RM7.55, Pos Malaysia and Can-One up 13 sen each to RM2.70 and RM1.78, Southern Acids 12 sen to RM2.29 while Allianz gained 11 sen to RM4.88.

Among the decliners, Carlsberg fell 33 sen to RM8.43, GAB down 26 sen to RM12.06, KLK 18 sen to RM24.52, New Hoong Fatt and BHIC 13 sen each to RM2.31 and RM3.68, Nestle and BAT 12 sen each to RM55.80 and RM49.84, Litrak 11 sen to RM3.74 and Dutch Lady 10 sen to RM26.10.

Ingenuity Solutions was the most actively traded counter with 41.32 million shares done. The stock added one sen to 8 sen.

Other actives included Proton, Nextnation, Pos Malaysia, Bursa Malaysia and OSK.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

KLCI pares down gains, Asian mkts turn negative

KUALA LUMPUR (Jan 12): The FBM KLCI hovered in positive territory at the mid-day break on Thursday as most key regional markets turned negative ahead of a Spanish debt sale that is seen as a key test of confidence.

Also, the European Central Bank and Bank of England are scheduled to announce their respective interest rates.

Regional investors have been more risk averse in recent days as lingering concerns over the eurozone debt crisis has sapped confidence among punters.

At the mid-day break, the FBM KLCI edged up a mere 0.03 of a point to 1,522.32.

Losers overtook gainers by 365 to 275, while 313 counters traded unchanged. Volume was 781.28 million shares valued at RM680.04 million.

The ringgit weakened 0.11% to 3.1423 versus the US dollar; crude palm oil futures for the third month delivery fell RM26 per tonne to RM3,202, crude oil gained 34 cents per barrel to US$101.21 while gold added US$1.05 an ounce to US$1,643.03.

At the regional markets, Japan’s Nikkei 225 fell 0.92% to 8,370.14, Hong Kong’s Hang Seng Index shed 0.12% to 19,128.80, the Shanghai Composite Index was down 0.15% to 2,272.63, and Taiwan’s Taiex lost 0.10% to 7,181.34.

Meanwhile, Singapore’s Straits Times Index was up 0.24% to 2,753.61 and South Korea’s Kospi gained 0.18% to 1,848.84.

Among the gainers on Bursa Malaysia, Proton rose 17 sen to RM5.45 with 9.98 million shares done. The national carmaker has been in the limelight in recent weeks on various reports of interested parties bidding for Khazanah Nasional Bhd’s controlling stake in the company.

Other gainers included Pos Malaysia that rose 14 sen to RM2.71, Bursa 13 sen to RM6.99, Southern Acids 12 sen to RM2.29, Esso and Can-One 11 sen each to RM3.67 and RM1.76, Kulim 10 sen to RM4.41, while Malayan Flour Mills and Hibiscus added nine sen each to RM7.49 and RM1.11.

GAB was the top loser this morning and fell 32 sen to RM12; Carlsberg lost 22 sen to RM8.54, Dutch Lady 20 sen to RM26, KLK 18 sen to RM24.50, New Hoong Fatt 14 sen to RM2.30, Nestle and Batu Kawan lost 12 sen each to RM55.80 and RM18.74, while BAT fell 10 sen to RM49.86.

The actives included Proton, Pos, Hibiscus, Bursa and OSK.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

KLCI struggles to extend gains as external concerns persist

KUALA LUMPUR (Jan 12): The FBM KLCI struggled to stay in positive territory at mid-morning on Thursday as key regional markets traded mixed following the softer overnight close at Wall Street.

Asian shares were subdued and the euro hovered near a 16-month low on Thursday as worries about euro zone sovereign funding kept investors risk-averse ahead of a Spanish debt sale that is seen as a key test of confidence, according to Reuters.

The FBM KLCI edged up 0.17 of a point at mid-morning.

Gainers led losers by 221 to 197, while 238 counters traded unchanged. Volume was 333.23 million shares valued at RM251.65 million.

Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note Thursday said the FBM KLCI’s resistance areas of 1,524 and 1,535 may cap market gains, whilst obvious support areas may be located at 1,500 and 1,522.

“Due to the US markets’ quiet tone last night; we could be in for yet another benign day of trading activity,” he said.

At the regional markets, Japan’s Nikkei 225 slipped 0.71% to 8,388.11, Hong Kong’s Hang Seng Index shed 0.14% to 19,124.80, South Korea’s Kospi lost 0.28% to 1,840.38 and Singapore’s Straits Times Index was down 0.16% to 2,742.66.

Meanwhile, the Shanghai Composite Index added 0.07% to 2,277.65 and Taiwan’s Taiex rose 0.08% to 7,194.15.

On Bursa Malaysia, Pos Malaysia was the top gainer at mid-morning and added 14 sen to RM2.71; Kulim added 10 sen to RM4.41, Can-One, Proton and CBIP rose nine sen each to RM1.74, RM5.37 and RM4.84, Jetson and Genting eight sen each to RM1.32 and RM10.84, Ann Joo seven sen to RM1.87 and Sarawak PLANTATION []s six sen to RM2.60.

Among the decliners, Ta Ann fell 40 sen to RM5.20, KLK down 12 sen to RM24.58, Tan Chong nine sen to RM4.20, Shell and Top Glove down seven sen each to RM9.43 and RM5.18, NCB, Ewein and Kossan down six sen each to RM3.86, 79 sen and RM3.51 respectively, while NSOP fell five sen to RM5.55.

The actives included Pos, Proton, OSK, RedTone, Hibiscus and Envair.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

DRB-Hicom names Pos CEO

KUALA LUMPUR: Datuk Khalid Abdol Rahman, DRB-Hicom Bhd director for corporate planning, is Pos Malaysia Bhd CEO effective Jan 1, 2012, further etching DRB-Hicom’s influence over the company it gained control of in July this year.

The announcement on Khalid’s appointment yesterday came five months after DRB-Hicom group managing director Datuk Seri Haji Mohd Khamil Jamil was named Pos Malaysia’s chairman.

Pos Malaysia incumbent group managing director and CEO, Datuk Syed Faisal Albar, had been tapped to fill the CEO chair at Khazanah Nasional Bhd-controlled Malaysia Airports Holdings Bhd (MAHB), The Edge weekly reportedly over the weekend. This had yet been confirmed or denied at press time. MAHB managing director Tan Sri Bashir Ahmad Abdul Majid declined to comment on the report at a press conference on the new KLIA2 on Tuesday.

Formerly a Khazanah-controlled entity, Pos Malaysia has had DRB-Hicom as its single largest shareholder since July 1 this year. DRB-Hicom paid RM622.8 million, or RM3.60 apiece, for the strategic 32.2% block in the deal announced on April 22 this year. The sale was part of Khazanah’s decision to sell its non-core holdings.

The Employees Provident Fund Board has 11.76% stake in Pos Malaysia while Aberdeen Asset Management Sdn Bhd holds a 6.83% block.

When reporting its earnings for the quarter ended Sept 30, Pos Malaysia said its financial year-end had been changed from Dec 31 to March 31. DRB-Hicom’s financial year ends on March 31.

Khalid, 55, was appointed alternate director to DRB-Hicom group COO Datuk Lukman Ibrahim on Pos Malaysia’s board in July.

Before joining DRB-Hicom as head of corporate planning in August 2006, Khalid was group general manager for corporate planning and business development at Tradewinds Corp Bhd.

An accountant by training, Khalid’s earlier rounds in Corporate Malaysia include corporate finance stints with Perdana Merchant Bankers Bhd and Rakyat Merchant Bankers Bhd, according to a statement to Bursa Malaysia.

Pos Malaysia, whose shares hit a high of RM3.65 on April 7, is down 24% year-to-date at its RM2.49-close yesterday. There are four “buy’”recommendations on the stock, with the most bullish being OSK Securities, which values Pos Malaysia at RM4.12. Credit Suisse is the only brokerage house with a neutral recommendation, valuing it at RM3.20, according to Bloomberg data.

Meanwhile, DRB-Hicom ended at RM2.03 yesterday, up 4.6% year-to-date, but off its recent high of RM2.50 apiece on April 7. The counter has three “buys” versus two “holds”, according to Bloomberg data.

At the time of writing, RHB Research Institute’s RM1.90 price target is the most bearish while CIMB Research values the stock at RM3.95.


This article appeared in The Edge Financial Daily, December 1, 2011.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

EMS Malaysia not affiliated: Pos

Pos Malaysia Bhd has clarified that a company known as EMS Malaysia is not affiliated or linked with it or any of its business units, departments and subsidiaries.

Pos Malaysia said in a statement today it did not assign any business operating rights to EMS Malaysia to operate any postal services despite the latter's reference to Pos Malaysia's former Call Centre address in its website (www.emsmalaysia.com) as its Customer Service Address.

"Pos Malaysia would like to clarify that Expedited Mall Services (EMS) is an international courier service, for documents and merchandise, offered by the network of postal operators under the Universal Postal Union (UPU).

"As a member of the UPU and the sole Malaysia representative, Pos Malaysia is the only postal operator designated to operate, manage and handle the EMS service through PosLaju as well as utilise the EMS brand name," it said.

Pos Malaysia is a full member in the EMS Cooperative, the statement added.

It said the address of EMS Malaysia, as published on the website, is that of Pos Malaysia's former call centre at Subang Jaya Post Office.

But while the post office still occupies and runs its operations on the ground floor, Pos Malaysia said it has never leased the currently vacant level one of its Subang Jaya office to EMS Malaysia.

"Those who have fallen victim to the claims made by the website are advised to lodge a police report or contact Pos Malaysia's call centre through PosLine at 1-300-300-300," it added. -- Bernama

OSK keeps 'buy' call on Pos

OSK Research is maintaining its "buy" recommendation on Pos Malaysia Bhd, given the group's positive synergies with DRB-Hicom Bhd and its collaboration with Bank Muamalat Malaysia Bhd.

OSK Research said in a research note today: "We maintain our earnings forecast at this juncture because we believe the group will be unveiling more collaboration efforts with DRB-HICOM going forward."

The research firm said the tie-up with Bank Muamalat and Uni-Asia Life Insurance would boost Pos Malaysia's retail service and it would leverage on DRB's Kuala Lumpur Airport Services (KLAS) to enhance its PosLaju courier services.

OSK Research also highlighted the potential for DRB to unlock the value of the five land plots owned by Pos Malaysia through redevelopment.

The research firm said it is maintaining the "buy" call on Pos Malaysia with a fair value (FV) of RM4.12. -- Bernama