*Result* AsiaTravel

*Result* AsiaTravel.com- maintain BUY - (TP=$0.62 reduced from $0.90): 1) Disappointing 2Q results come from weak sales from Thailand and Dubai with higher operating costs for new products. 2) Expect strong recover in 2H will come from Online Packaging Module with instant confirmation and new online B2B platform. 3) Removing our earnings estimates due to current uncertainties on the contributions from RWS. But AST is still a stronger player in the next tourism upturn with promising offerings.