FLOWS
BUYS: Axiata, AMMB, DRBHcm
SELLS: GentM, JCY, PBBank
Technical Stock Alert
Time Com (RM0.71) - Charting indicators, MACD and RSI cutting upwards with an immediate upside target of RM0.75 and RM0.82. Has been linked to Asia Broadcasting Network to provide the fiber optic infrastructure to carry the transmissions of the new cable network, set for roll out by 2Q this year.
TMC Life (RM0.325) - Consolidated in the last two months between RM0.30-RM0.35. Recent increased interest in healthcare players could see a breach above this trading range with a target of RM0.42.
Company Visit Update
Perisai - (RM0.845)
- Completed 100% acquisition of Garuda Energy in Jan 2012.
- Intan Offshore should see some recovery in earnings as past years involved statutory dry docking of a vessel.
- The full year effect of all the new acquisitions should see the company earn a PAT of RM80m to RM90m for FYE 2012.
- Remains on the acquisition trail with aspirations of being an asset based O&G player.
- Eyeing to participation in marginal oilfields through a tie up with a foreign partner.
- Potentially another USD100m to RM200m asset acquisition on the cards in the 2H 2012 which would require capital raising through equity as the company targets to maintain a maximum gearing of around 1.6x.
- We rate this stock a BUY, trading at only 8x PE multiple.
