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FLOWS
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Thursday, 29 May, 2014
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BUY
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YTLP,
AXIATA, SKPETRO
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SELL
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SIME, TENAGA, DIGI
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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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KIMLUN (5171)
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29/5/2014
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RM1.56
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ACCUMULATE
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RM1.90
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Share price has fallen 11% from its recent
high in April of RM1.75 and expect to see strong support at the RM1.55
levels. Earnings is expected to grow at CAGR of 25% over the next 2 years
with its strong orderbook of RM2.3bn. Orderbook replenishment is expected to
pickup in the 2H with major infrastructure such as KLMRT2 and RAPID expected
to kickstart while other prospective jobs including Thomson LRT Line tunnel
lining worth SGD100m is up for grabs. Construction work for property
development is also expected to pick up in the 2H as housing developers
targets potential buyers ahead of implementation of GST. Its property
division is also expected to launch phase 1 of its Medini Opus project (GDV:
RM446mil) with a tentative launch scheduled for 4QFY14. Currently trades at
8.2xFY15 PER with dividend yield of 3.27%. Accumulate with TP: RM1.90
(TYK)
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ARMADA (5210)
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29/5/2014
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RM3.64
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ACCUMULATE
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RM4.32
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Share price has fallen back to RM3.60 level
which is at its 2 year low following disappointing 1Q results and
announcement of capital raising. However we believe this is an opportunity to
accumulate as following recent contract win from Angola FPSO, orderbook has
swelled to RM32bn which is comparable to SKPETRO. Tenderbook remains strong
with company submitting 4 bids for FPSOs in Ghana, Nambia, Mexico and
Indonesia with capex worth US$3bn. In addition, the company is working on 6
more bids with a combined capex of more than US$10bn. Currently trades at
16.85x FY15 PER. Accumulate with TP: RM4.32
(TYK)
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Calls for MAY WEEK 3/ 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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KPS (5843)
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22/5/2014
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RM1.52
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TRADING BUY
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RM2.50
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RM1.52
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0.0%
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DRBHCOM (1619)
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22/5/2014
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RM2.42
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ACCUMULATE
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RM3.00
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RM2.39
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-1.3%
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BRAHIMS (9474)
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23/5/2014
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RM1.95
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TRADING BUY
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RM2.25
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RM1.73
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-11.3%
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ENGTEX (5056)
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23/5/2014
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RM1.85
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ACCUMULATE
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RM2.60
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RM1.84
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-0.6%
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SBCCORP (5207)
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26/5/2014
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RM2.09
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TRADING BUY
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RM2.91
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RM2.22
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+6.2%
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TAANN(5012)
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26/5/2014
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RM4.23
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ACCUMULATE
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RM5.00
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RM4.26
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+0.9%
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THHEAVY (7206)
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27/5/2014
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RM0.895
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ACCUMULATE
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RM1.20
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RM0.890
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-0.6%
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SALCON (8567)
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27/5/2014
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RM0.765
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ACCUMULATE
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RM0.855
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RM0.79
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+3.2%
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MISC (3816)
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28/5/2014
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RM6.19
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ACCUMULATE
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RM6.80
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RM6.15
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-0.7%
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AFG(2488)
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28/5/2014
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RM4.74
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SELL
into strength
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-
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RM4.79
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+1.0%
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Performance
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Positive
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Negative
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Neutral
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