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FLOWS
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Monday, 22 October, 2012
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BUY
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CIMB,
DIGI, ARMADA
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SELL
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GAMUDA,
MUDAJYA, PCHEM
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Stock
Alert
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STOCK
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DATE
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PRICE
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BUY/SELL
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TARGET PRICE
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SUNWAY (5211)
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22/10/2012
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RM2.32
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Trading BUY
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RM2.60
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SUNWAY( RM2.32): We continue to favour
the stock despite trading at the top of its trading range of RM2.17-2.32 as
belive in a breakout above this range following management’s decision to
resume property launches which was put on hold back in June. Recent launches
have been well received at Sunway Geo and Sunway Velocity with property sales
having reached RM1bn ytd. This is on top of construction orderbook of RM3.5bn
which have also surpassed renewal target. Recent sale of Sunway medical to
SREIT will further unlock asset values with Sunway Giza and universities next
in line. Sunway’s stake in SREIT is equivalent to half of Sunway’s market
cap. We believe this grossly misprices SUNWAY that trades at only 10xFY12PE.
Trading buy with TP RM2.60.
(TYK)
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HAIO (7668)
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22/10/2012
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RM2.18
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BUY
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2.50
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HAIO (RM2.18): Share price broke clear
of its 200MA on Friday indicating there could potential upside as weekly MACD
has also just turned positive. HAIO fell from its peak in 2010 of RM4.67
following government’s changes to MLM rulings which saw subscribers base
falling. We believe HAIO earnings have hit the trough with share price
consolidating near the RM2.00 prior to breakout. Going forward earnings will
be supported by MLM division which saw 1QFY13 revenue rising 39% and PBT 68%
yoy as HAIO focus on high margin foundation garments and its key health food
products. Management has hinted higher dividend payout from current 50% with
dividend yield standing a t4.13%. Re-rating is expected from 1) recieving its
licences to venture into Indonesia 2) increase in dividend payout ratio 3)
increase in membership from 166k at a rate of 2k per month based on
management target. Breaking above RM2.28 will see share price retest RM2.50.
(TYK)
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Calls
for OCT Week 3 / Week 4
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STOCK
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Initiation Dates
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PRICE
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BUY/SELL
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TARGET PRICE
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LAST PRICE
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% Change since Initiated
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REDTONE (0032)
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15/10/2012
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RM0.395
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Trading BUY
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RM0.50
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RM0.390
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1.3%
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3A (0012)
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15/10/2012
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RM1.10
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ST BUY
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RM1.25
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RM1.23
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11.8%
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DRBHICOM (1619)
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16/10/2012
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RM2.38
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Trading BUY
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RM2.60
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RM2.37
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0.4%
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SILKHLD (5078)
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16/10/2012
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RM0.35
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Trading BUY
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RM0.41
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RM0.365
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4.2%
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FITTERS (9318)
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17/10/2012
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RM0.685
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Trading BUY
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RM0.80
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RM0.695
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1.44%
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MRCB (1651)
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17/10/2012
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RM1.68
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Accumulate
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RM1.90
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RM1.65
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-1.8%
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MAYBULK (5077)
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18/10/2012
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RM1.44
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Trading BUY
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RM1.60
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RM1.42
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-1.4%
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PADINI (7052)
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18/10/2012
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RM1.89
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Accumulate
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RM2.10
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RM2.04
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7.4%
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LIONIND (4235)
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19/10/2012
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RM1.10
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Strong BUY
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Mid - RM1.70
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RM1.10
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0%
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FAVCO (7229)
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19/10/2012
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RM1.63
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Trading BUY
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RM1.81
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RM1.63
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0%
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Monday, October 22, 2012
Morning Call | 22 oct 2012
