Morning Call | 19 Sept 2012

FLOWS	Wednesday, 19 September 2012
BUY	GENTING, GAMUDA, SPSETIA
SELL	TNB, SIME, MAYBANK
SELL	TNB, SIME, MAYBANK
Stock Alert
STOCK	DATE	PRICE	BUY/SELL	TARGET PRICE
BURSA (1818)	19/9/2012	RM6.22	BUY	RM6.60
Is a play on higher trading volumes for stocks and index & commodity futures as funds shift to risk assets post Mario Draghi’s unlimited bond-buying proposal and QE3. Trading volumes usually increased when there’s increased allocation to equities as Bursa benefits from the higher foreign flows and speculative trading activities from a buoyant market. In addition, Bursa moves in close correlation with the KLCI. Recently Bursa retreated by 8% from its recent high and has hardly rebounded off its low, whereas the KLCI fell 3.3% from its recent high to low and has now recouped 2.6% of the loss. Buy (PT)
MUDAJAYA (5085)	19/9/2012	RM2.70	BUY	RM3.02
200MA appears to be a strong support as share price rebounded after reaching a low of RM2.56. We advocate a BOW call as rerating catalyst could be on the horizon with possible resolution to coal supply issues in India after major blackout in July and further contracts awarded from local jobs such as TRX and KIDEX Highway with Budget 2013 looming on 28th  Sept. Mudajaya is also backed by orderbook estimated at RM4.8bn and is trading at only 6xFY12 with dividend yield of 3.3%. MACD has also recently cut up.  (TYK)
SELL	TNB, SIME, MAYBANK
Calls for Sept Week 2/Week 3
STOCK	DATE	PRICE	BUY/SELL	TARGET PRICE
TENAGA (5347)	11/9/2012	RM6.75	BUY on weakness	RM7.00
FGV (5222)	11/9/2012	RM4.69	BUY on weakness	RM5.00
CIMB (1023)	12/9/2012	RM7.17	Accumulate	RM7.47
SPSETIA (8664)	12/9/2012	RM3.57	BUY	RM 3.86
JCY (5161)	13/9/2012	RM0.97	Trading BUY	RM1.20
UEMLAND (5148)	13/9/2012	RM1.64	Trading BUY	RM1.84
PERISAI (0047)	14/9/2012	RM0.90	BUY	RM0.95
TIMECOM (5031)	14/9/2012	RM3.28	BUY	RM3.55
BENALEC (5190)	18/9/2012	RM1.12	Trading BUY	RM1.25
GAMUDA (5398)	18/9/2012	RM3.40	BUY	RM3.80