Bursa Community
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Bursa Community

Bursa Malaysia Stock Forum - Enriching You!


Strategy AirAsia X, Perdana Petroleum, PetChem, SapuraKencana at risk under Syariah compliance review by SC

Bursa Community :: Community News

Go down

Strategy AirAsia X, Perdana Petroleum, PetChem, SapuraKencana at risk under Syariah compliance review by SC Empty Strategy AirAsia X, Perdana Petroleum, PetChem, SapuraKencana at risk under Syariah compliance review by SC

Post by Cals Wed 07 May 2014, 22:52

Strategy AirAsia X, Perdana Petroleum, PetChem, SapuraKencana at risk under Syariah compliance review by SC
Business & Markets 2014
Written by Surin Murugiah of theedgemalaysia.com   
Wednesday, 07 May 2014 08:58

KUALA LUMPUR (May 7): AirAsia X Bhd (AAX), Perdana Petroleum Bhd (PP), Petronas Chemicals Group Bhd (PChem) and SapuraKencana Petroleum Bhd (SKP) are potentially at risk under the May 2014 Syariah compliance review by the Securities Commission (SC), said Affin IB Research.
In a strategy note Wednesday, Affin IB acting head of research Kevin Low said kneejerk reaction on some of the stocks that lost their Shariah-compliant status in the November 2013 review raised concerns on the outcome of the latest review by the SC.
“We ran checks for potential dropouts across our universe of Shariah compliant stocks based on either the annual audited accounts or latest annual report.
“AirAsia X, Perdana Petroleum, Petronas Chemicals and Sapura Kencana are potentially at risk,” he said.  
Notwithstanding this, Low said the demanding Shariah conditions and already distinct scarcity premium for Shariah compliant stocks reinforce his view that valuations for the KLCI would further trend up in the future as ample liquidity is further narrowed down on a smaller pool of investable names.
“We remain positive on the KLCI given a compelling macro outlook and maintain our yearend target of 1980 (+6% upside).
“In our Top 10 picks, IJM Plantation and SKP replaced Air Asia and Bumi Armada Bhd, respectively,” he said.
Cals
Cals
Administrator
Administrator

Posts : 25277 Credits : 57721 Reputation : 1766
Male Join date : 2011-09-08
Location : global
Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it I’️d have been right perhaps as often as seven out of ten times.”
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis

Back to top Go down

Back to top

- Similar topics

Bursa Community :: Community News

 
Permissions in this forum:
You cannot reply to topics in this forum