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FLOWS
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Tuesday, 1 April, 2014
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BUY
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TM,
SKPETRO, GENM
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SELL
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CIMB, GENM, AXIATA
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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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DIGI (6947)
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1/4/2014
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RM5.39
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Take profit
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-
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Share price has risen about 15% in less than 2 months time with RSI showing
oversold level at 87%. It is believed that the stock has achieved its upside
in the near term as its share price has reached if not exceeded most of the
houses’ target price. Back in the month of February, the management has
hinted that revenue growth will be fairly modest against increasing market
competition and capex to revenue ratio will be slightly higher. While DiGi’s
4Q13 results were commendable, there are still concerned on the increasing
competition from Maxis on the prepaid segment which is DiGi’s bread and
butter. Valuations is slightly expensive at the moment as the share price is
trading at 25x PE for FY14 versus its 7 year average of 21.5x. Take Profit
(KL)
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MMCCORP (2194)
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1/4/2014
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RM2.82
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ACCUMULATE
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RM3.20
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Share price has been consolidating well at this level with volume for
quite some time. The RM 2.80 level has proven to be a strong support level as
the price can still hold despite the company showed disappointing earnings in
FY13. Moving forward, it is expected that earnings in FY14 to turn around as
the maintenance work for Tanjung Bin will end. Theoretically, the Energy
& Utilities division would have reported a pre-tax profit of RM200m in
FY13 if the operational issues (i.e. boiler tube leaks, major maintenance) at
Tanjung Bin did not occurred. On a positive note, its construction division’s
FY13 pre-tax profits jumped by 120% thanks to healthy progress of the MRT1
project. Technical chart is looking bullish as MACD has just crossed over to
the positive side. Accumulate
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Calls for MARCH Week 4 2014
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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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BENALEC (5190)
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25/3/2014
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RM0.925
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ACCUMULATE
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RM1.15
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RM0.90
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-2.8%
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WASEONG(5142)
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25/3/2014
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RM1.88
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ACCUMULATE
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RM2.00
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RM1.91
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+1.5%
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HOHUP (5169)
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26/3/2014
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RM1.49
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ACCUMULATE
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RM2.00
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RM1.47
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-1.4%
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PERDANA (7108)
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26/3/2014
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RM1.89
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ACCUMULATE
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RM2.50
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RM1.91
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+1.0%
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MHB (5186)
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27/3/2014
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RM3.72
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ACCUMULATE
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RM4.30
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RM3.76
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+1.0%
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KKB (9466)
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27/3/2014
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RM2.47
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ACCUMULATE
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RM2.75
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RM2.49
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+0.8%
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MSC (5916)
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28/3/2014
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RM3.20
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BUY
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RM3.80
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RM3.26
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+1.8%
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SBCCORP(5207)
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28/3/2014
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RM1.82
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BUY
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RM2.30
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RM1.80
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-1.1%
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PARAMON (1724)
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31/3/2014
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RM1.67
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BUY
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RM2.00
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RM1.66
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-0.6%
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SCOMI (7158)
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31/3/2014
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RM0.435
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ACCUMULATE
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RM0.645
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RM0.435
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0.0%
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HOLD
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CONT SELL
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SELL/ TAKE PROFIT
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CONT BUY
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STRONG BUY
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