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FLOWS
|
Friday, 21 December, 2012
|
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BUY
|
SIME, GENTING, PCHEM
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SELL
|
KNM, MAYBANK, WCT
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STOCK ALERT
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STOCK NAME
|
DATE
|
PRICE
|
BUY/SELL
|
TARGET PRICE
|
||||||||
|
MAHSING (8583)
|
21/12/2012
|
RM2.16
|
Accumulate
|
RM2.50
|
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|
Following
the surprise proposed rights issue to raise RM400m announced Dec 10 (details
of which have yet to be finalized), share price has eased slightly from
RM2.23, and remain some 13% lower than its recent peak of RM2.47 in July.
RM350m from the rights issue would be utilized for land acquisition (Klang Valley
& Johor mainly) with the balance for working capital. We view this price
weakness as an opportunity to accumulate. Mah Sing is quick becoming a proxy
to the Malaysian property sector. Based on its strong track record, we expect
group to at least match its RM5.8b in GDV replenishment next year, on the
back of new land acquisitions. Trading at an attractive FY13 PE of 6.5x &
dividend yield of 5%, we expect share price to recover when there’s greater
clarity on the company’s land-banking – Accumulate.
(AK)
 |
||||||||||||
|
QL (7084)
|
21/12/2012
|
RM3.07
|
BUY on Weakness
|
RM3.60
|
||||||||
|
The
share price has drifted downwards since mid November, it being close to the
bottom of its YTD trading range of between cRM3.02-RM3.40. It’s recent HY
results presented a mixed bag ( accounting for 42% of consensus), as
improvements in the Marine product manufacturing (MPM) division cushioned the
subdued performances of the Integrated livestock farming (ILF) & palm oil
(PO) division. A better 2HYFY3/13 & FY14 is expected, as expansion in the
MPM & ILF businesses should achieve better economies of scale and a young
oil palm tree profile would benefit the
 |
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|
Calls
for DEC Week 2/ Week 3
|
||||||||||||
|
STOCK
|
Initiation Dates
|
Initiation price
|
BUY/SELL
|
TARGET
PRICE
|
LAST PRICE
|
% Change since Initiated
|
||||||
|
CRESBLD (8591)
|
12/12/2012
|
RM0.84
|
BUY
|
RM1.00
|
RM0.835
|
-0.6%
|
||||||
|
MRCB (1651)
|
12/12/2012
|
RM1.57
|
Trading BUY
|
RM1.70
|
RM1.59
|
+1.3%
|
||||||
|
HSL (6238)
|
13/12/2012
|
RM1.48
|
Accumulate
|
RM1.70
|
RM1.43
|
-3.5%
|
||||||
|
UNISEM (5005)
|
13/12/2012
|
RM0.90
|
Trading BUY
|
RM1.20
|
RM0.88
|
-2.2%
|
||||||
|
TMCLIFE (0101)
|
14/12/2012
|
RM0.33
|
BUY
|
RM0.41
|
RM0.355
|
+7.1%
|
||||||
|
BAT (4162)
|
14/12/2012
|
RM61.10
|
SELL
|
RM56.40
|
RM60.50
|
-0.9%
|
||||||
|
CYPARK (5184)
|
19/12/2012
|
RM1.54
|
BUY
|
RM2.00
|
RM1.60
|
+3.89%
|
||||||
|
DIALOG (7277)
|
19/12/2012
|
RM2.39
|
BUY on weakness
|
RM2.80
|
RM2.43
|
+1.67%
|
||||||
|
GCB (5102)
|
20/12/2012
|
RM1.61
|
BUY
|
RM1.90
|
RM1.60
|
+0.6%
|
||||||
|
NAIM (5073)
|
20/12/2012
|
RM1.79
|
BUY
|
RM2.30
|
RM1.79
|
0.0%
|
||||||
Monday, December 24, 2012
Morning Call | 21 Dec 2012
