06th September 2011
Top Story: Telecoms: 2QCY11 report card Overweight
Sector Update
¨ Results of the telco stocks under coverage came in within expectations, except for Axiata which disappointed due to stronger RM and lower-than-expected numbers from Celcom.
Corporate Highlights
Lingui: Slower quarters ahead before reconstruction starts Outperform
Briefing Note
¨ Current ASP for Lingui's hardwood logs has dropped to US$180/m3 (slightly higher than expected) recently amid supply normalisation due to better weather conditions. Lingui expects that its hardwood log prices will go back to above US$200/m3 by 4QCY11, which we believe could be due to potentially higher downstream demand from plywood mills and the seasonally low production period in Sarawak .
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