MORNING CALL 13
AUGUST 2012
FLOWS;
BUYS: AirAsia,
Dialog, GentingM
SELLS: MAS, MPHB,
UEMLand
Technical Stock Alert;
1) PETRA ENG
(RM1.69) - its price has consolidated for the past month after touching a high of RM1.79 in mid July. MACD
is now on the verge of cutting up again with RSI climbing to 66 for the past
five trading sessions. Renewed interest on this counter has been on the back of
the recent sale by Perdana's 26.9% stake to Waseong. It has also been linked to
a tie up with Canadian O&G company, Coastal Energy for maginal oilfield
works at the Kapal, Banang, Meranto marginal oilfields. Current order book stands
at RM700m with a tender book of RM3.5bn. BUY for better prospects ahead and a
recovery in earnings this year. Immediate resistance of RM2.00 with a medium
term target of RM2.20.
2) THplant
(RM2.56) - Share price rebound 8.6% in the last week after dipping to a low of RM2.30 after touching a high of RM2.71. MACD of stock turned up and
looks to move into the positive region. Near term catalyst includes a rerating
of stock after they acquired two companies from its parent Lembaga Tabung Haji
that collectively owns 41k ha of land for RM535.6m to be paid via 209.23m new
THPLANT shares @ RM2.56 to LTH. Currently trades at 12x PE, Div 5%. Current
price should be well support by the new issue of shares to LTH at current
levels. Accum.
(RL)
