|
FLOWS
|
Thursday, 1 August 2013
|
||||||||||||
|
BUY
|
GENTING ,GAMUDA, SPSETIA
|
||||||||||||
|
SELL
|
TENAGA, MAYBANK, SIME
|
||||||||||||
|
STOCK ALERT
|
|||||||||||||
|
STOCK NAME
|
DATE
|
PRICE
|
BUY/SELL
|
TARGET PRICE
|
|||||||||
|
UEMS (5148)
|
2/8/2013
|
RM2.70
|
BUY
|
RM3.15
|
|||||||||
|
Group
with the impending listings of Medini Iskandar & Iskandar Waterfront
Holdings, policies making & news flow from the IDR in Johor will continue
to be investors friendly. This would benefit UEMS as it is the largest
landowner in the ID with 70% of their land-bank & 80% of its total
projected GDV in IDR. The current pull-back in price, due to perceptions of
potential negative policies, is an opportunity to buy the stock. UEMS has
retraced 17% & 26% from its last month & ytd highs respectively. With
the recent downgrade by Fitch in the Malaysian credit outlook to negative,
the govt will need to better manage its finance and reduce its public debts,
hence it is very unlikely for the govt to come out with policies that
are detrimental to the listing of the said IPOs and jeopardise their effort
to raise cash from some of their assets. Valuations is also attractive after
the recent retracement as it is now trading at a discount of 36% to RNAV of
RM4.20. Market consensus 12-month target price is RM3.68, 27% upside from
current price. Buy
(PT)
 |
|||||||||||||
|
MISC(3816)
|
2/8/2013
|
RM5.37
|
BUY
|
RM5.80
|
|||||||||
|
Stock
has clearly outperformed the broader market for the last couple of months due
to its turnaround in its 1Q13 results post its restructuring &
divestment exercise, the rebound in VLCC spot rates, higher earnings from the
tank terminals division as additional phases from Tanjong Bin come into
operation, and increased contribution from offshore with Gemusut Kakap
rig commencing from 2H13. Recently, it is noted that VLCC spot rates have
spiked further, gaining 15% from last week. US tanker charterers have also
seen gains of >50% since they bottom 2 months ago. Despite its improving
fundamentals, MISC was also not excused in the sharp market reaction towards
the Fitch credit outlook downgrade. This has resulted in MISC giving up 50%
of its rally from RM4.86 to RM5.85 and is now at an attractive level for
re-entry. Buy
(PT)
 |
|||||||||||||
|
Calls for JULY Week 4 /
AUGUST Week 1
|
|||||||||||||
|
STOCK
|
Initiation Dates
|
Initiation price
|
BUY/SELL
|
TARGET PRICE
|
LAST PRICE
|
% Change
since Initiated
|
|||||||
|
GENP(2291)
|
26/7/2013
|
RM10.00
|
TAKE PROFIT
|
-
|
RM9.90
|
-1.0%
|
|||||||
|
UZMA(7250)
|
26/7/2013
|
RM4.00
|
TAKE PROFIT
|
-
|
RM3.97
|
-0.7%
|
|||||||
|
MAHSING (8583)
|
29/7/2013
|
RM2.51
|
ACCUMULATE
|
RM3.10
|
RM2.38
|
+5.2%
|
|||||||
|
QL(7084)
|
29/7/2013
|
RM3.60
|
Trading SELL
|
RM3.30
|
RM3.50
|
-3.8%
|
|||||||
|
GADANG (9261)
|
30/7/2013
|
RM0.92
|
BUY
|
RM1.20
|
RM0.925
|
+0.5%
|
|||||||
|
PERISAI(0047)
|
30/7/2013
|
RM1.56
|
ACCUMULATE
on weakness
|
RM2.00
|
RM1.48
|
-5.2%
|
|||||||
|
SENDAI (5205)
|
31/7/2013
|
RM1.56
|
Trading BUY
|
RM1.75
|
RM1.55
|
-0.7%
|
|||||||
|
TEBRAU (1589)
|
31/7/2013
|
RM1.36
|
Trading BUY
|
RM1.70
|
RM1.35
|
-0.8%
|
|||||||
|
KIMLUN (5171)
|
1/8/2013
|
RM2.00
|
ACCUMULATE
|
RM2.60
|
RM2.05
|
+2.5%
|
|||||||
|
DELEUM (5132)
|
1/8/2013
|
RM3.28
|
BUY
|
RM3.90
|
RM3.43
|
+4.5%
|
|||||||
We’ve added an extra feature (first column from right) to indicate our
recommendation for our call.
|
HOLD
|
|
|
CONT SELL
|
SELL/ TAKE PROFIT
|
|
CONT BUY
|
STRONG BUY
|
