External broker reports(aggregated public sources), Kenanga Investment Bank Bhd

Kenanga Investment Bank Bhd

External broker reports(aggregated public sources)

Established for more than 45 years, Kenanga Investment Bank Berhad is a financial group in Malaysia with extensive experience in equity broking, investment banking, treasury, Islamic banking, listed derivatives, investment management, wealth management, structured lending and trade financing. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>DIALOG’s FY23 results were slightly below our expectation, but met consensus’ forecast.</li><li>YTD earnings declined slightly due to margin compression at the downstream segment.</li><li>Nevertheless, on an encouraging note, 4QFY23 EBITDA margin finally reversed its sequential downtrend since 2QFY21. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

DIALOG’s FY23 results were slightly below our expectation, but met consensus’ forecast.YTD earnings declined slightly due to margin compression at the downstream segment.Nevertheless, on an encouraging note, 4QFY23 EBITDA margin finally reversed its sequential downtrend since 2QFY21. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Dialog Group Berhad - Margin Recovery Finally Happens

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

MSCI Emerging Markets Index / Technical Analysis

Global equities continue to trend higher following breakouts that have occurred during the past two weeks. Over this timeframe we have been recommending adding exposure to cyclical Sectors and, despite them getting near-term extended, we believe these upside moves are likely just getting going. Additionally, the US dollar is breaking below support and EM equities are breaking above resistance, only adding to our bullish outlook on global equities. We highlight actionable set-ups within the Consumer Discretionary, Global Real Estate and Utilities Sectors.

Global equities continue to trend higher following breakouts that have occurred during the past two weeks. Over this timeframe we have been recommending adding exposure to cyclical Sectors and, despite them getting near-term extended, we believe these upside moves are likely just getting going. Additionally, the US dollar is breaking below support and EM equities are breaking above resistance, only adding to our bullish outlook on global equities. We highlight actionable set-ups within the Consumer Discretionary, Global Real Estate and Utilities Sectors.

Global Equity Strategy: Still Bullish, But Extended Near-Term

Improvements in Japan are leading broad developed int’l indexes higher. The MSCI EAFE, local currency is bullishly inflecting above its downtrend and putting an end to the YTD pattern of lower highs. Both the TOPIX and Nikkei 225 have continued to improve, and now the TOPIX Small index is also bullishly inflecting. We provide a technical appraisal of major global markets, and highlight a number of actionable stocks within Japan, and across international markets.

Improvements in Japan are leading broad developed int’l indexes higher. The MSCI EAFE, local currency is bullishly inflecting above its downtrend and putting an end to the YTD pattern of lower highs. Both the TOPIX and Nikkei 225 have continued to improve, and now the TOPIX Small index is also bullishly inflecting. We provide a technical appraisal of major global markets, and highlight a number of actionable stocks within Japan, and across international markets.

MSCI EAFE Inflecting, Aided by Strength in Japan

In this report we provide a synopsis of EM markets. We also scour the EM universe for attractive and actionable opportunities, highlighting opportunities within India's SENSEX, global energy and materials sectors, and Asian banks.

In this report we provide a synopsis of EM markets. We also scour the EM universe for attractive and actionable opportunities, highlighting opportunities within India's SENSEX, global energy and materials sectors, and Asian banks.

The MSCI EM index has recovered over the last couple of weeks and is now approaching a logical resistance level. We reiterate: avoid broad EM exposure and be selective.  India’s S&amp;P BSE SENSEX is our top country-specific EM index recommendation, overweight India. We also provide an update on Brazil’s Bovespa, which has surged over the last month following a steep selloff. We are skeptical that the index will be able to continue its unabated advance.  Today’s report also includes a wide variety of bottom-up recommendations spanning most sectors and all market capitalizations.

The MSCI EM index has recovered over the last couple of weeks and is now approaching a logical resistance level. We reiterate: avoid broad EM exposure and be selective.  India’s S&amp;P BSE SENSEX is our top country-specific EM index recommendation, overweight India. We also provide an update on Brazil’s Bovespa, which has surged over the last month following a steep selloff. We are skeptical that the index will be able to continue its unabated advance.  Today’s report also includes a wide variety of bottom-up recommendations spanning most sectors and all market capitalizations.

EM Strategy: MSCI EM Approaching Resistance; India Breaking Out to New Highs -- Add Exposure

Malaysia

Dialog Group Berhad is an investment holding company.  The Company, through its subsidiaries, provides engineering, procurement, construction and commissioning services, and plant maintenance services. Dialog also retails petroleum to oil, gas, and petrochemical industries, as well as markets specialty chemical and equipments.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Dialog Group (DLG MK)

Dialog Group Berhad - Margin Recovery Finally Happens

DIALOG’s FY23 results were slightly below our expectation, but met consensus’ forecast. YTD earnings declined slightly due to margin compression at...

Kenanga Investment Bank Bhd

Global Equity Strategy: Still Bullish, But Extended Near-Term

Global equities continue to trend higher following breakouts that have occurred during the past two weeks. Over this timeframe we have been...

Vermilion Research

MSCI EAFE Inflecting, Aided by Strength in Japan

Improvements in Japan are leading broad developed int’l indexes higher. The MSCI EAFE, local currency is bullishly inflecting above its downtrend...

Vermilion Research

EM Strategy: Remain Overweight India

In this report we provide a synopsis of EM markets. We also scour the EM universe for attractive and actionable opportunities, highlighting...

Vermilion Research

EM Strategy: MSCI EM Approaching Resistance; India Breaking Out to New Highs -- Add Exposure

The MSCI EM index has recovered over the last couple of weeks and is now approaching a logical resistance level. We reiterate: avoid broad EM...

Vermilion Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)