FLOWS
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Friday, 5 July, 2013
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BUY
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GENTING, TM, HUAYANG
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SELL
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TENAGA, SIME, MAGNUM
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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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ILB (5614)
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5/7/2013
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RM1.44
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BUY
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RM1.80
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Recently ILB announced the sales of its Shenzhen and Henan subsidiaries for Rm519m,
realising a gain on disposal of RM178m and crystallizing the property revaluation reserves of
RM70m. After the completion of these sales, on an adjusted proforma y/e
31/12/2012 balance sheet basis, ILB has a net cash of RM512m or equivalent to
a cash per share of RM3.10 (Ex minority interest of RM2.40/share). ILB has
also announced that there is a possibility that the company may be classified
as a “cash company” by Bursa pursuant to the listing rules post the disposal
of the subsidiaries, where 70% of its assets consists of cash or cash
equivalent on a consolidated basis. To prevent suspension or even delisting
of the company, ILB has announced that it is willing to take appropriate
actions to reduce this risk. Hence, ILB, with its net cash per share of
RM3.10, is likely to declare a distribution of a meaningful special dividend
to its shareholders. This will be an attractive catalyst for the stock.
Technically, ILB also has an attractive chart pattern of consecutive higher
highs & higher lows which signifies strength and accumulation by strong
hands. Buy
(PT)
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SCOMIES(7045)
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5/7/2013
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RM0.78
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Take
Profit into Strength
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RM0.66
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Stock
has doubled in price since our buy call at Rm0.395 on 28/3/13. Valuations are
now stretched with forward PER of 18.6x & 14.2x for the next 2 financial
years versus small cap oil & gas counters’ PER of less than 15x
& 12x; and current p/bk of 2.86x versus 5 years average of o.62x. Scomies
has also achieved analysts’ 12 month target price of RM0.81. The current
rally is the 5th leg of its 3-year chart pattern and this is
normally a good level to take profit into strength especially when the price
spikes sharply. In addition, its parent company, Scomi (66% stake in the
company), has earlier indicated that there may be a possible placement of
Scomies’ shares when the price is right. Naturally, the placement will have
to be done around similar valuations of other small o&g players, hence
assuming a 12x forward PER for FY3/15, there may be supply coming in @ RM0.66.
Take profit into strength
(PT)
|
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Calls for JUNE Week 4 - JULY
week 1
|
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STOCK
|
Initiation Dates
|
Initiation price
|
BUY/SELL
|
TARGET
PRICE
|
LAST PRICE
|
% Change since Initiated
|
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UEMS(5148)
|
28/6/2013
|
RM3.08
|
Trading SELL
|
BUYBACK
RM < 2.60
|
RM2.99
|
-3.0%
|
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SILKHLD(5078)
|
28/6/2013
|
RM0.395
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BUY
|
RM0.50
|
RM0.385
|
-2.5%
|
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KIMLUN(5171)
|
1/7/2013
|
RM2.06
|
ACCUMULATE
|
RM2.61
|
RM2.04
|
-1.0%
|
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DAYA(0091)
|
1/7/2013
|
RM0.24
|
Trading BUY
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RM0.28
|
RM0.24
|
0.0%
|
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GTRONIC (7022)
|
2/7/2013
|
RM2.18
|
Strong BUY
|
RM2.97
|
RM2.31
|
+5.9%
|
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IGB (1597)
|
2/7/2013
|
RM2.54
|
Trading BUY
|
RM3.00
|
RM2.49
|
-2.0%
|
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YTL(4677)
|
3/7/2013
|
RM1.64
|
ACCUMULATE
|
RM2.00
|
RM1.63
|
+0.7%
|
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INTEGRAX (9555)
|
3/7/2013
|
RM1.64
|
BUY
|
RM2.00
|
RM1.62
|
+1.3%
|
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MRCB(1651)
|
4/7/2013
|
RM1.53
|
ACCUMULATE
|
RM1.80
|
RM1.57
|
+2.6%
|
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KPJ(5878)
|
4/7/2013
|
RM6.78
|
SELL
|
RM6.11
|
RM6.72
|
-0.9%
|
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Monday, July 8, 2013
Morning Call | 5 July 2013
