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FLOWS
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Wednesday, 21 January, 2015
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BUY
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CIMB, IJM, GENM
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SELL
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ASTRO, DIGI, IOICORP
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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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SALCON (8567)
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21/01/2015
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RM0.60
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ACCUMULATE
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RM0.76
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Group is an under-researched small cap water
and sewerage that will look to capitalize on the on going water/wastewater-
related expenditure under the 10th Msia plans, (E.g RAPID project
and the Langat 2.) Group was recently awarded a RM470m sub-contract from MMC
Corp Bhd for a centralised sewage treatment plant project. The project is
expected to contribute positively towards the earnings and net assets of the
Salcon group for the financial years ending Dec 31, 2015 (FY15) to
FY20,Group’s growth prospects remain compelling as it has secured RM1.1bil
orderbook & has an outstanding tenderbook of RM1.5bil with an expected
20-30% success rate. Balance sheet remains healthy as the group has a net
cash of 57cents after disposing of its China. Weakness was linked to a Sg
shareholder selling out of the stock due to the weakening Ringgit and the
cash pile should act as a base for the share price. Accumulate on current
weakness.
(RL)
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SKPRES (7155)
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20/01/2015
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RM0.75
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ACCUMULATE
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RM1.00
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With plans to acquire Tecnic group (for
RM200mil), the group will emerge as one of the largest plastic manufacturing
companies in Msia. The group is aiming to achieve a 58% yoy growth in FY16
assuming the acquisition can be completed by 1Q of 2015. Moving forward, the
group also expects to see better margin on the back of higher utilisation
rate and improved product mixed driven by Dyson’s 2 new product lines of
vacuums and fans next year. Currently the group is running at 80% utilisation
and looks to increase the overall capacity by another 75% within the next 3
years. Group is net cash of approximately 10cents and is only trading at 11x
PE for FY16 and only 9x for FY17. Group also pays dividend of 4.8% with a
minimum payout policy of 50%. Technical chart flagged a break out above the
RM0.74 resistance and will continue to retest high of RM0.785. Weekly MACD is
trending upwards inline with the completion of the acquisition of Technic.
Accumulate on weakness.
(RL)
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Calls for Jan WEEK 2/ WEEK 3 2015
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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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SCIENTX (4731)
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14/01/2015
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RM7.00
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ACCUMULATE
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RM7.90
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RM6.78
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-3.2%
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PANTECH (5125)
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14/01/2015
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RM0.73
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ACCUMULATE
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RM0.96
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RM0.765
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+4.7%
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IOIPG (5249)
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15/01/2015
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RM2.16
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BUY
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RM2.40
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RM2.12
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-1.9%
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UZMA (7250)
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15/01/2015
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RM1.68
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BUY
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RM2.23
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RM1.86
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+10.7%
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GASMSIA (5209)
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16/01/2015
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RM3.20
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ACCUMULATE
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RM3.58
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RM3.08
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-3.7%
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CYPARK (5184)
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16/01/2015
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RM1.86
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ACCUMULATE
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RM2.20
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RM1.85
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-0.6%
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ECONBHD (5253)
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19/01/2015
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RM0.90
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TRADING BUY
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RM1.10
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RM0.885
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-1.7%
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SBCCORP (5207)
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19/01/2015
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RM1.00
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BUY
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RM1.33
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RM1.02
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+2.0%
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PERDANA (7108)
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20/01/2015
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RM1.14
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TRADING BUY
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RM1.41
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RM1.13
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-0.9%
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SURIA (6521)
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20/01/2015
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RM2.40
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ACCUMULATE
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RM2.92
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RM2.35
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-2.1%
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Performance
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Positive
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Negative
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Neutral
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