MORNING CALL 2 AUG
2012
FLOWS;
BUYS: Gamuda, CIMB, AMMB
SELLS: AirAsia, MMHE, PCHEM
Technical Stock Alert;
Ivory (RM0.545) - Mid cap development company that
develops mid-to-high end housing apartments as well as malls, most of their
properties are based in penang. Ivory Properties is expected to post better
results amid of launching of 5 projects in 2H to 2013 with GDV of RM1.6bil.
Bayan Mutiara (Penang World City programme): 800mil 49:51
JV with dijacor Residential towers for Penang Times Square: 300mil.
Seafront Condo in Batu Ferringhi: 130mil.
City Mall & Residence in Tanjung Tokong: 400mil.
The future of the company seems promising as the Penang
World City programme is estimated to worth 10bil and will offer more
opportunities for Ivory looking ahead. Prices of stock have been holding around mid RM0.50
levels for a month in a half now and finally seeing the MACD turning up. RSI
picked up sharp too. Believe that stock has bottomed and it's a good time to
accumulate ahead of a well positioned technical chart. Immediate target of 0.58
cents. BUY
(RL)
MSM (RM5.10) - sold down to its strong support lvl of
RM5, technically MACD signaling severe oversold position with RSI at mere 26. fundamentally supported by 21% drop in sugar px to offset
recent strength in USD, PER 13x with attractive yield of 5-6%-BUY
(LJN)
