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FLOWS
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Thursday, 16 May, 2013
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BUY
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MAYBANK, COASTAL, CIMB
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SELL
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GENTING, DIALOG, TM
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STOCK ALERT
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STOCK NAME
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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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BONIA(9288)
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16/5/2013
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RM2.06
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BUY
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RM2.60
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Despite rising from its recent low of RM1.72, share price
still trades at 21% discount to recent peak of RM2.60. Bonia valuation
remains attractive at 8xJUNFY14PE vs peers of above 10xPE. Revenue has grown
at a CAGR of 18% since FY08 and is projected to grow another 14% in FY13.
Recent margin compression was because of refurbishments and consolidation of
counters into boutique which has just been completed. Going forward, Bonia is
expected to benefit from operating efficiencies as well as new boutiques
across the region (2 in
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HLI(3301)
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16/5/2013
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RM4.40
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BUY
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RM5.20
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Company
is a proxy to immediate domestic infrastructure expansion with products
ranging from tiles, Cemboard, concrete, and cement. HLI which started
production for its 2mil MT capacity cement plant last year is a major
beneficiary into booming housing projects as well as infra’s such as MRT and
LRT projects. Implementation of minimum wage as well as people friendly GE13
pledges could see pickup in sales for its Yamaha motocycles. Yamaha Vietnam
is also showing a steller year with associate income +36% for 9months FY13.
Valuation is merely 10.5xPE with an attractive yield of almost 6%. Earnings
will further be boosted by year end should they opt to convert its RM175mil
worth of ICPS in Hume Cement (HC). This potentially increases earnings by up
to RM100mil in FY14 on consolidation of HC. BUY with TP: RM5.20
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Calls for MAY Week 1/ Week 2
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STOCK
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Initiation Dates
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Initiation 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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GADANG(9261)
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9/5/2013
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RM0.695
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BUY
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RM0.86
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RM0.83
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+19.4%
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MALTON(6181)
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9/5/2013
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RM0.535
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Mid-term BUY
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RM0.70
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RM0.610
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+14.0%
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MAS-OR(3786OR)
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10/5/2013
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RM0.075/RM0.365
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BUY
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RM0.545
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RM0.65
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-13.3%
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LIONIND(4235)
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10/5/2013
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RM1.08
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BUY
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RM1.40
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RM1.14
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+5.5%
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DAYA(0091)
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13/5/2013
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RM0.22
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Trading BUY
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RM0.26
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RM0.225
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+2.2%
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MYEG(0138)
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13/5/2013
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RM1.18
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Trading SELL
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RM1.06
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RM1.33
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+12.7%
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TAANN(5012)
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14/5/2013
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RM3.52
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BUY
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RM4.03
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RM3.80
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+7.9%
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YTLPOWR(6742)
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14/5/2013
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RM1.55
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ACCUMULATE
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RM1.85
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RM1.53
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-1.3%
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MHB(5186)
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15/5/2013
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RM3.82
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BUY
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RM4.50
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RM3.82
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0.0%
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KKB(9466)
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15/5/2013
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RM1.73
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ACCUMULATE
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RM2.50
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RM1.73
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0.0%
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Thursday, May 16, 2013
Morning Call | 16 May 2013
