FLOWS;
BUYS: Genting, CIMB, MHB, UEMLand
SELLS: DRBHcm, AirAsia, TM
Technical Stock Alert;
Hiap Tek (RM0.66) - Achieved a double bottom of 56sen in January and continues to trend higher. Near term target of 72sen with an immediate target of 80sen. First phase of its RM1.8bn blast furnace venture with China's Shougang Group should be completed in 2013. Trading Buy
TG OFFS (RM0.84) - Increased trading activity in this O&G player which has bounced from a recent low of 72sen.Immediate resistance of 98sen. The group has also expressed interest in participating in marginal oilfields. Ekuinas initial entry 20% block cost RM1.30. Trading Buy
Stock of the Day
CMSB - (RM2.28)
30-Dec-11 Today's price
FBMKLCI Name 30-Dec-11 LAST_PRICE % change from 30-Dec
CMS CAHYA MATA SARAWAK BHD 2.09 2.25 9.09%
KKB KKB ENGINEERING BHD 1.70 1.78 4.71%
HSL HOCK SENG LEE BERHAD 1.32 1.63 23.48%
NAIM NAIM HOLDINGS BERHAD 1.64 2.20 34.15%
Government to continue the rollout of various public projects with CMS being the biggest beneficiary of projects under Sarawak Corridor of Renewable Energy (SCORE).
On-going negotiations with Sarawak Energy Berhad for the Power Purchase Agreement for its aluminium smelter are expected to be completed in coming months.
Expect CMS to be a laggard play to its peers with target price of 2.4-2.60 with company trading at 9xPE and 0.5xBv
