17th Jan 2014 - HLB Top Pick 2014

Public Watchlist: Hong Leong's Top Picks for 2014

2014 Outlook & Strategy (by HLIB: 10 Dec 2013) We expect macro risks to diminish into 2014 with global growth picking up to 3.6% reinforced by synchronised growth among major economies. Malaysia's real GDP growth to pick up slightly to 5.0% in 2014 as stronger net exports offset slower domestic demand growth. Malaysia a low Beta market given relatively large fund management industry, lower foreign shareholding (close to trough), recent foreign selldown well absorbed, FBM KLCI P/E premium valuation vs. peers at 5-year average, less volatility and low Beta vs. MSCI Asia ex-Japan. These should help limit impact of outflow pressure from tapering. End 2014 FBM KLCI target pegged at historical mean P/E valuation of 14.71x or 1,910.

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Stock Name	Ref Date	Ref Price	Price Diff	Last	Range	Open	Change	Volume	Note
BRAHIMS	10/12/2013	1.62	+0.41	2.03	2.00 - 2.13	2.13	-0.10	1,955,300
DRBHCOM	10/12/2013	2.68	+0.07	2.75	2.74 - 2.79	2.75	-0.04	882,600
GENTING	10/12/2013	10.14	+0.06	10.20	10.06 - 10.32	10.30	+0.12	2,644,700
IJM	10/12/2013	5.84	-0.12	5.72	5.68 - 5.78	5.69	0.00	1,831,700
MATRIX	10/12/2013	3.36	+0.35	3.71	3.70 - 3.76	3.76	-0.05	538,800
MAYBANK	10/12/2013	9.90	-0.10	9.80	9.76 - 9.85	9.83	-0.01	6,812,200
PHARMA	10/12/2013	4.50	-0.07	4.43	4.25 - 4.45	4.25	+0.19	99,000
SCOMIES	10/12/2013	0.72	+0.18	0.90	0.895 - 0.915	0.905	-0.005	2,644,900
SKPETRO	10/12/2013	4.47	+0.20	4.67	4.64 - 4.75	4.71	-0.04	10,016,900
SUNWAY	10/12/2013	2.70	-0.09	2.61	2.58 - 2.65	2.64	-0.03	1,608,300
TENAGA	10/12/2013	10.96	+0.50	11.46	11.42 - 11.70	11.62	-0.10	6,781,000
TM	10/12/2013	5.47	+0.04	5.51	5.50 - 5.59	5.55	-0.01	10,239,100