MORNING CALL 28
AUGUST 2012
FLOWS;
BUYS: Sime, Genting, PChem
SELLS: KNM, Maybank, WCT
Technical Stock Alert;
KIAN JOO (RM2.73) - We are recommending take profits on
the counter after it reached our medium term price objective of around RM2.80
(refer to our Buy note on 6th July). The current spurt is driven by the more
aggressive dividend policy from the new management which will help Canone's
cash flow, who owns 32.9%. Although the Nilai lines will provide new capacity
and efficiency in the 2 piece cans, there is still execution risk with the
current new board.
IHH ( RM3.11) - Accumulate as its price has settled into
a support level around RM3.10 vs its IPO of RM2.80. Recent selling has been
ahead of 2Q numbers due out today. The street consensus view is generally
bullish on its medium to long term growth as one of the leading private health
care provider in Emerging Markets with target prices as high as RM3.75.