FLOWS;
BUYS: YTL, MRCB,
IJM
SELLS: Kencana,
Axiata, GentM
Technical Stock Alert;
POS (RM2.75) - Has been in a consolidation phase around
the RM2.70 levels since touching a high of RM2.96 in early Jan. Current signs
of its MACD cutting upwards with an accumulation pattern on increased volume
evident in the past few trading sessions. A break above the RM2.78 levels could see it touch its double bottom target
of RM2.90. Interest could be stirred ahead of its planned
Transformation Plan Phase 2 , where its direct mail business is targeted as a main
earnings stream. Accumulate.
(AL/DN)
STOCK OF THE DAY - INTEGRA (RM1.34)
- Chairman
Amin Rasip recently increased his stake by 11.89m to
23.5%, making him the largest single shareholder above
TNB's 2215%.
- TNB its
main customer for the Lekir Bulk Terminal (LBT) is
expected to increase its coal shipment from 6m/year to
9m/year by 2014 with the expansion at its Janamanjung power plant.
- Previous
disagreements with the existing TNB MD will be
resolved in June with Che Khalid stepping down from his
position.
- Amin Rasip remains confident of securing an
agreement with
Vale to handle and process some of its products before
shipment back out despite the latter's own plan for a port in Teluk Rubiah.
- There
are plans for and economic zone around LBT catering for
commodities such as limestone, coal, biomass, cooking oil
and palm oil.
-
Technically its RSI has just turned up at 49, with MACD
looking to cut upwards. Immediate resistance of RM1.40
with a short term target of RM1.54.
-
Currently trading at a historical PE of 9.2x and 0.7x P/Bk,
BUY.