Morning Call 3 Aug 2012
FLOWS:
BUYS: IJM, Gamuda,
CIMB
SELLS: MMHE, FGV, TM
Technical Stock Alert:
AMBANK (RM6.41) - stk has been consolidating around
RM6.40 lvls after peaking at RM6.50 recently. Time to accum this stk as MACD is
indicating oversold lvls. Co is on acquisition trail buying up Kurnia Insurans
and MBf Cards in bid to enhance non-interest income to counter margin
compression. Co is also well positioned to benefit from interest rate downcycle
with key rerating catalyst should ANZ increase their stake from current 23.8%.
Trades at attractive P:B 1.7x, ROE 14x, PER12x despite improving B/S and higher
div payout (ex 13.5C div on 22/8) over the years-Buy
(LJN)
(LJN)
Dialog (RM2.44) - recently formed a strategic alliance
with Halliburton to develop upstream o&g capabilities for mature
oilfields(new income stream) in addition to its 32% stake in marginal
oildfields tie up with Roc Oil (48%) and Petronas Carigali (20%)to develop
Balai field. The group is also eyeing additional 2-3 small field RSCs to expand
recurring income in addition to the ongoing Pengerang tank terminal. Stk has
formed a double bottom around the RM2.35 with huge potential to breakout from
RM2.45 as MACD is cutting upwards-Buy
(LJN)
