Morning Call | 5 Oct 2012

FLOWS	Friday, 5 October, 2012
BUY	AXIATA, PBBANK, MAXIS
SELL	YTLC, GENM, AIRASIA
Stock Alert
STOCK	DATE	PRICE	BUY/SELL	TARGET PRICE
HSL (6238)	5/10/2012	RM1.57	Trading BUY	RM1.80
Laggard to Naim’s recent run-up, stk has been drifting on thin vol since peaking at RM1.69 with MACD flattening out since mid-July. Co’s mkt cap of RM915m compares favourably against its outstanding OB RM1.7bn with further awards of contracts expected in 2H12 especially from SCORE for infra and marine engineering projs which may include: the remaining RM1.7bil packages of the Kuching central sewerage system, power plants and ancillary jobs, RM100mil Tanjung Manis deep seaport extension. Furthermore, stk should be well supported at current lvls by co’s share buyback scheme- (LJN)
DRBHCOM (1619)	5/10/2012	RM2.39	Trading BUY	RM2.70
Since our last take profit call in Jul, stk has retraced from RM2.76 down to RM2.30 lvls following Proton’s privatisation but co’s failure to implement a foreign element continues to dampen sentiment. Co is finalising Lotus’ turnaround plan and details of Affin and Muamalat merger by year end. Imminent +ve news to spur interest may come in the form of MRT track contracts. MRT has just awarded out several elevated stations and viaduct gateway contracts and is due to announce the award of RM850m Sg Buloh-Kajang track works soon. DRB/Mitsubishi are the preferred front runners for this job.
Calls for SEPT Week 4 / OCT Week 1
STOCK	DATE	PRICE	BUY/SELL	TARGET PRICE
DIALOG (7277)	28/9/2012	RM2.30	ACCUMULATE	RM2.50
SKPETRO (5218)	28/9/2012	RM2.31	Trading BUY	RM2.60
KEURO (3565)	1/10/2012	RM1.02	ACCUMULATE	RM1.13
MYEG (0138)	1/10/2012	RM0.745	ACCUMULATE	RM0.82
TIMECOM (5031)	2/10/2012	RM3.14	BUY	RM3.40
IJMLAND (5215)	2/10/2012	RM2.15	BUY	RM2.60
MAHB (5014)	3/10/2012	RM5.63	ACCUMULATE	RM5.84
MPHB (3859)	3/10/2012	RM3.56	BUY	RM3.80
WASEONG (5142)	4/10/2012	RM1.76	ACCUMULATE	RM1.92
HIAPTECK (5072)	4/10/2012	RM0.49	Long Term BUY	RM0.60