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>We obtained a first-hand impression of UMW’s fastest-growing segment, UMW Aerospace (which is the exclusive Rolls-Royce fan cases manufacturer), during our visit to its facility in UMW High Value Manufacturing Park, Serendah, two days ago.</li><li>UMW Aerospace is also able to scale up the production of its existing products and expand its capabilities to venture into new products.</li><li>We maintain our forecasts, TP of RM4.80 and OUTPERFORM call.</li></ul><p><em>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.</em></p>

We obtained a first-hand impression of UMW’s fastest-growing segment, UMW Aerospace (which is the exclusive Rolls-Royce fan cases manufacturer), during our visit to its facility in UMW High Value Manufacturing Park, Serendah, two days ago.UMW Aerospace is also able to scale up the production of its existing products and expand its capabilities to venture into new products.We maintain our forecasts, TP of RM4.80 and OUTPERFORM call.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.

Company Update - UMW Holdings - 16 Jun 2023

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

A full service Thai brokerage

Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

<ul><li>The SET Index is expected to move sideways down, with the resistance at 1,597/1,604 points and the support at 1,573/1,566 points.</li><li>Negative momentum will be generated by the selling of high-growth stocks amid increasing concern that the Fed will hike rates by 0.75% in November.</li><li>Banking stocks (i.e., KKP, BAY and TTB) have reported higher-than-expected earnings that increased both QoQ and YoY; we anticipate speculative buying on banking stocks that will announce their 3Q22 earnings today, namely KBANK and SCB.</li></ul>

The SET Index is expected to move sideways down, with the resistance at 1,597/1,604 points and the support at 1,573/1,566 points.Negative momentum will be generated by the selling of high-growth stocks amid increasing concern that the Fed will hike rates by 0.75% in November.Banking stocks (i.e., KKP, BAY and TTB) have reported higher-than-expected earnings that increased both QoQ and YoY; we anticipate speculative buying on banking stocks that will announce their 3Q22 earnings today, namely KBANK and SCB.

Malaysia

UMW Holdings Berhad is an investment holding company which, through its subsidiaries, trades and manufactures light and heavy equipment for industrial, construction, and agricultural sectors.  The Company also imports, assembles, and markets passenger and commercial vehicles and related spare parts.  UMW provides after-sales, financing, and insurance services as well.

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UMW Holdings (UMWH MK)

Company Update - UMW Holdings - 16 Jun 2023

UMW Aerospace is also able to scale up the production of its existing products and expand its capabilities to venture into new products.

Kenanga Investment Bank Bhd

Market Outlook and Technical Analysis

The SET Index is expected to move sideways down, with the resistance at 1,597/1,604 points and the support at 1,573/1,566 points. Negative...

Krungthai XSpring

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