0200 GMT [Dow Jones] CIMB retains Overweight rating on Malaysian number forecasting operators (NFO); says introduction of new 4 digit Jackpot game by Multi-Purpose Holdings (3859.KU) unit Magnum Corp may help claw back some sales lost to illegal operators, sales from other legal operators but impact would be minimal. "For Tanjong (2267.KU), the short-term negative impact is largely offset by the possibility that it may also get a new jackpot game," says analyst in report. Still, thinks impact on Berjaya Sports-Toto will be greater as it is no longer the only NFO offering jackpots. Cuts B-Toto FY10-12 earnings, DPS estimates by up to 2%, trims DDM-based target price to MYR5.85 from MYR5.95 but retains Outperfrom call. Keeps Genting (3182.KU) as top pick in sector with Outperform rating, MYR9.30 target price. MPHB flat at MYR1.90; Tanjong flat at MYR15.14, Berjaya Sports-Toto (1562.KU) +0.2% at MYR4.46.
Dow Jones Newswires
September 23, 2009 22:00 ET (02:00 GMT)
Copyright (c) 2009 Dow Jones & Company, Inc.
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