MISC (RM8.86; Buy; Price Target: RM9.10; MISC MK)

Smaller loss for container shipping
• 1QFY11 net profit jumped 126% q-o-q to RM428.0m,
beating expectations
• Earnings were driven by smaller-than-expected loss for
the container shipping segment, and possibly one-off
‘other income’
• Maintain Buy and SOP-derived RM9.10 TP