♦ Cheaper vs. market. Our PER estimate for the market has remained relatively unchanged at around 12x FY09 even though the KLCI has fallen by 27% since end-Jun 08, and this is due to lower earnings expectations. We now expect FY09 earnings to contract 9.3%, which compares against our Jun-08 assumption of 7.9% growth. Ten stocks that were trading at a premium to the market then are now trading at a discount . We note that although none of these ten stocks are rated Outperform, Asiatic, Dialog, IJM Corp, SapuraCrest and TMI are worth looking at from a trading point of view.

My target: DIALOG & SapuraCrest

source: http://bursastreet.blogspot.com/