Morning Call | 21 Sept 2012

FLOWS	FRIDAY, 21 Sept 2012
BUY	GENTING, GAMUDA, MAS
SELL	TNB, SIME, PCHEM
Stock Alert
STOCK	DATE	PRICE	BUY/SELL	TARGET PRICE
PHARMA (7081)	21/9/2012	RM7.43	Accumulate	MidTerm TP - RM8.80
The healthcare subsidiary of Boustead has settled around the current levels after achieving major gains when it was requited in June this year and hit a high of RM11.02.Pharmaniaga is targeting to increase the revenue contribution from the private sector to between six and seven per cent this year, from the current three per cent via recent acquisition of Idaman Pharma Manufacturing Sdn Bhd, which has increased its products from over 200 to 500. Pharmaniaga's market share in the local pharmaceutical industry, valued at some RM5.3 billion, is about 23 per cent. Based on current year earnings projection of 70sen/share, the stock is trading at a reasonable 10.7x multiple and a discount to other healthcare related companies. (DN)
DAYANG (5141)	21/9/2012	RM2.00	BUY	RM2.20
Following our earlier accumulate call on this name, stock has climbed from its low of RM1.80 and have been consolidating well at current levels despite 11.5% owned Perdana spurting 38% recently. Laggard play in o&g name as it awaits award of Petronas’ RM8-10bn HUCC job in the Pan Malaysian cluster by years end. This will significantly enhance its RM1.4bn OB. Technically MACD cutting upwards, PER 11x-Buy. (LJN)
Calls for SEPT Week 2 / Week3
STOCK	DATE	PRICE	BUY/SELL	TARGET PRICE
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
BURSA (1818)	19/9/2012	RM6.22	BUY	RM6.60
MUDAJYA (5085)	19/9/2012	RM2.70	BUY	RM3.02
PPB (4065)	20/9/2012	RM12.14	BUY	RM13.10
MAS (3786)	20/9/2012	RM1.01	Trading BUY	RM1.16