Buy BITCOIN from LUNO Malaysia

Buy Bitcoin from LUNO Malaysia.

Enter code 9377NY, get MYR 25 in Bitcoin for both you and me! Get it on Google Play.

Luno Malaysia is one of three digital asset exchanges that have received conditional approval from the SC to trade in cryptocurrency. (from BERNAMA.com)

Thursday 1 December 2016

DRB-HICOM

DRB-HICOM (DRB MK, TRADING BUY, TP: MYR1.71)
Who Will The OEM Partner Be?
Results Review
After cuts to our earnings and changes for its equity stake in Pos Malaysia and Corwin Holdings, our SOTP-derived TP falls to MYR1.71 (from MYR2.00, 74% upside). A significant re-rating catalyst – in the form of the potential OEM partnership (results to be announced in 1H17) – is pinned on expectations for the partner to provide equity injection into Proton and thus reduce DRB-Hicom’s stake of Proton losses in the near term. We expect news flow to remain positive in the coming months, coupled with a steady stream of bookings for its newly launched models. While the longer-term outlook remains uncertain, its share price may exceed 15% for the next 3 months. We change our recommendation to TRADING BUY (from BUY).

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