Flows:
Buys: SKPetro, Maybank, AmBank
Sells: DiGi, TM, MRCB
Technical Stock Alert:
1) Faber(1.49) - the pricing and impending listing of IHH
has refocused attention on the healthcare sector with KPJ and Pharmaniaga
outperforming the broad market substantially. Faber is basically a healthcare
stock with integrated hospital services management contributing to >90% of
revenue. It trades at PER of 7.9x for forward financial year, 1.07x p/b with
gross div yield of 5.4% and low reported foreign shareholding of <2%. It is
also a potential M&A candidate with Khazanah's Feb'2012 announcement of their
plan to divest or reduce their stakes in some of their subsidiaries. At the end
of April'2012, Faber announced that they have received an extension letter from
the PM's dept that allows them to continue with their hospital support services
until a new concession agreement is negotiated and signed. Daily MACD +ve,
weekly MACD on the verge of cutting upwards creating a golden cross
formation-BOW. (PT/LJN)
2)Dijaya (RM1.17) -just announced acquisition of 11
parcels of land totalling 55.07ac in JB for RM105.1m (or RM43.80psf) to add to
its RM3.8bn Tropicana Danga Bay proj (60:40 JV with Iskandar Water Front S/B),
enhancing its ballooning GDV potential of RM36bn. Technically, stk has completed 61.8% retracement after
peaking at RM1.72 and collapsing to RM1.05 after announcement of asset
injection exercise by major s/h. Stk has been languishing at RM1.17lvls on thin
vol below its RI px of RM1.20 and trades at mere PER 8x, P:B 0.56x. Daily MACD
is flattening out while weekly MACD is starting to cut upwards-Accumulate.
(LJN)
