MORNING CALL 20 JULY
2012
BUYS: Genting, TM, MAS
SELLS: TNB, Sime, Axiata
Technical Stock Alert;
IJM (RM5.00) - stk has tanked to a year low of RM4.92
since forming a double top at RM6 with selling exacerbated when Govt decided to
stop NPE extension. Technically oversold as MACD is just starting to cut
upwards and RSI recovering from 30 to 40 nw. Immediate catalyst will be
securing contract for Sg Buloh-Kajang MRT worth arnd RM1bn and crystallisation
of West Coast Expressway for project flows worth RM4bn for co. Buy
(LJN)
DIALOG (RM2.37) - Share price has consolidated around the
RM2.37 levels and looks set to break above the RM2.50 last high levels.Upside
to come from potential in its marginal field project (Balai) and their
expansion in the Johor and Terengganu centralized tankage facilities which will
provide sustainable earnings growth, cash flow and dividends going fwd.
In addition they are also touted to b in the running for
several new marginal projects in Malaysia. Buy
(LJL)
