|
FLOWS
|
Wednesday, 29 October, 2014
|
||||||||||
|
BUY
|
CIMB, TENAGA, PBBANK
|
||||||||||
|
SELL
|
FGV, MAXIS, PCHEM
|
||||||||||
|
STOCK ALERT
|
|||||||||||
|
STOCK NAME
|
DATE
|
PRICE
|
BUY/SELL
|
TARGET PRICE
|
|||||||
|
DELEUM (5132)
|
29/10/2014
|
RM1.88
|
ACCUMULATE
|
RM2.55
|
|||||||
|
Company’s RM4bn orderbook is
expected to last up to 2023 backed by major contract wins such as the 5-year
Pan Malaysia slickline equipment and services contracts and 7+3 year
Long-Term Service Agreements for the provision of Turbomachinery maintenance
services of gas turbines. Of this, 60-65% is for the power and machinery
division. Tenderbook remains healthy with current bidding for RM1.1b-1.2b
contracts, of which 70-80% are for new contracts in its oilfield services
division. Growth is expected from company’s regional expansion plans, and
intentions to grow its Asset Integrated Solutions. Earnings are projected to
grow at CAGR of 18% over next 2 years with PE only at 11xFY15. Company is
also in a net cash position minimising risk of interest rate hikes and
forecasted to pay an attractive dividend yield of 4.5% in 2015. MACD has
turned positive and is among a handful of O&G that maintains Syariah
status. Accumulate with TP: RM2.55
(TYK)
 |
|||||||||||
|
ECONBHD (5253)
|
29/10/2014
|
RM0.94
|
Trading BUY
|
RM1.15
|
|||||||
|
Share price has consolidated well
after hitting a low of RM0.82 with MACD turning positive. Company has
achieved RM170mil in new contracts since listing thus bumping orderbook to
RM600mil that will last the group for the next 1-2 years. Currently the group
has tendered for RM2.0b worth of higher margin jobs as completion of MRT1 job
is expected to free up 10-12 machines. Potential listing of pilling
specialist, Ikhmas Jaya Group Berhad, could also garner further interest in
the sector. Trades at 11.4x CY16 PER. Trading Buy with TP: RM1.15 (13xJunFY16
PER)
(TYK)
 |
|||||||||||
|
|
|||||||||||
|
Calls for SEPT OCT WEEK 2 /
WEEK 3 2014
|
|||||||||||
|
STOCK
|
Initiation
Dates
|
Initiation
price
|
BUY/SELL
|
TARGET PRICE
|
LAST PRICE
|
% Change
since Initiated
|
|||||
|
PENERGY (5133)
|
21/10/2014
|
RM2.42
|
BUY
|
RM2.80
|
RM2.61
|
+7.8%
|
|||||
|
TIMECOM (5031)
|
21/10/2014
|
RM5.00
|
SELL
|
BB - RM4.30
|
RM4.87
|
-2.6%
|
|||||
|
ARMADA (5210)
|
23/10/2014
|
RM1.47
|
BUY
|
RM1.80
|
RM1.54
|
+4.7%
|
|||||
|
PCHEM (5183)
|
23/10/2014
|
RM5.93
|
ACCUMULATE
|
RM6.45
|
RM6.10
|
+2.8%
|
|||||
|
HOVID (7213)
|
24/10/2014
|
RM0.375
|
Defensive BUY
|
RM0.43
|
RM0.390
|
+4.0%
|
|||||
|
PADINI (7052)
|
24/10/2014
|
RM1.67
|
BUY on weakness
|
RM2.10
|
RM1.76
|
+5.3%
|
|||||
|
MHB (5186)
|
27/10/2014
|
RM2.32
|
ACCUMULATE
|
RM2.68
|
RM2.31
|
-0.5%
|
|||||
|
IJMLAND (5215)
|
27/10/2014
|
RM3.30
|
ACCUMULATE
|
RM3.60
|
RM3.37
|
+2.1%
|
|||||
|
TGUAN(7034)
|
28/10/2014
|
RM2.00
|
ACCUMULATE
|
RM2.48
|
RM1.99
|
-0.5%
|
|||||
|
MAXIS (6012)
|
28/10/2014
|
RM6.68
|
Switch - DIGI
|
-
|
RM6.72
|
+0.5%
|
|||||
|
Performance
|
|
|
Positive
|
|
|
Negative
|
|
|
Neutral
|
|
