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FLOWS
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Tuesday, 9
October, 2012
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BUY
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CIMB,
IOIC, DIGI
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SELL
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DIALOG,
JCY, SIME
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Stock Alert
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STOCK
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DATE
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PRICE
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BUY/SELL
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TARGET PRICE
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UEMLAND
(5148)
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9/10/2012
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RM1.83
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Trading
BUY
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ST RM2.00
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Stock
has been showing relative strength for the past week vis-à-vis other high
beta trading stocks. This outperformance was especially pronounced yesterday
as the broad market exhibited a rather weak tape. UemLand broke out of its
technical pattern on high volume and is looking to head towards a short-term
target of 2.00. Fundamentally, UemLand is supported by increasingly better
property sales especially in Johor’s Iskandar region with the hinterland
gaining significant traction after the opening of various key catalyst
projects like the Newcastle University, Legoland and the the 1st phase of the
Medini Mall. Recently, it has also completed the purchase of 122.3 acres of
freehold agriculture land (adjacent to Puteri Harbour and Kota Iskandar) at a
very attractive price of Rm17.50psf from Khazanah Nasional Bhd. Deals for agriculture
land in the neighbouring area has been transacted at prices of up to RM55psf,
while Puteri Harbour’s land sale is currently done at RM220psf. Khazanah has
a further 4,500 acres of land in the vicinity that UemLand may tap on for
future developments.
(PT)
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MUHIBAH
(5703)
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9/10/2012
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RM0.93
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Trading
BUY
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RM1.11
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A
controversial stock immersed in negativity; and NOT for the faint-hearted but
investors who are able to tolerate the volatility ride and be rewarded with
above normal returns when they emerged on the other side. Muhibbah is trading
at a price (price/book =0.68x; FY13 PER 4.5x) where the negative news over
the court cases on Asia Petroleum Hub(APH) and a potential further provision
of RM240m for work done on APH have been discounted. It is trading at
close to multi-year lows, with prices not too far away from the credit crisis
years of 2008/09. But the charts tell a different story, with accumulation
pattern seen for the last 3 months and positive divergences between the
prices and technical indicators. Despite the negativity, there is also a
recent +ve crossover of the weekly macd. In addition, seeing the tussle for
APH between CIMB, the main financier/creditor, and ZAQ Construction, the main
contractor, there is definitely marketable and realizable value for APH.
Hence the said provision of RM240m may not be necessary and the co may even
write back an earlier provision of RM160m for APH. Trading Buy for the
cheapest stock with exposure to the construction and oil & gas sector.
(PT)
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Calls for OCT Week 1
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STOCK
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DATE
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PRICE
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BUY/SELL
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TARGET PRICE
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LAST PRICE
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% CHANGE
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TIMECOM
(5031)
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2/10/2012
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RM3.14
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BUY
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RM3.40
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RM3.48
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10.83%
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IJMLAND
(5215)
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2/10/2012
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RM2.15
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BUY
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RM2.60
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RM2.07
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-3.72%
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MAHB
(5014)
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3/10/2012
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RM5.63
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ACCUMULATE
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RM5.84
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RM5.94
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5.51%
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MPHB
(3859)
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3/10/2012
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RM3.56
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BUY
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RM3.80
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RM3.59
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0.84%
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WASEONG
(5142)
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4/10/2012
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RM1.76
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ACCUMULATE
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RM1.92
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RM1.75
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-0.57%
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HIAPTECK
(5072)
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4/10/2012
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RM0.49
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Long Term BUY
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RM0.60
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RM0.48
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-2.04%
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HSL
(6238)
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5/10/2012
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RM1.57
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Trading BUY
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RM1.80
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RM1.55
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-1.27%
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DRBHCOM
(1619)
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5/10/2012
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RM2.39
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Trading BUY
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RM2.70
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RM2.41
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0.84%
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QL
(7084)
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8/10/2012
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RM3.20
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Trading BUY
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RM3.50
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RM3.20
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0.00%
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HLI
(3301)
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8/10/2012
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RM4.70
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BUY
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RM5.12
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RM4.70
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4.26%
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Tuesday, October 9, 2012
Morning Call | 9 Oct 2012
