FLOWS
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Tuesday, 30 October, 2012
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BUY
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MAYBANK, PHEM, AXIATA
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SELL
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BJTOTO, AMMB, DRBHCOM
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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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DIALOG
(7277)
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30/10/2012
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RM2.36
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BUY
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RM2.58
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Dialog (RM2.36) – oil & gas stocks have
outperformed in the recent market rally except for Dialog. The stock has been
trading at the lower band of its trading range of 2.55 to 2.30 despite a good
set of Q4 results which showed early contributions from land reclamation and
engineering works from Phase 1 of the Pengerang Terminal. Dialog is expected
to begin working on the RM1.99bn construction of tanks and jetties from Q1
FY2013 now that the preliminary works of Phase 1 has been completed. This
will be significant towards FY13 earnings. With the initial works of the 200-acre
Phase 2 having also started, Dialog is hopeful of securing a portion of
construction works for Petronas’ USD20bn Rapid project. In addition, Dialog
has other positives with the Balai marginal oil field risk-sharing contract
JV with Roc Oil & Petronas expecting
to start production by Q2’2013 coupled with potential award of an enhanced
oil recovery project in the Balingian province with their tie-up with
Halliburton. Buy
(PT)
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GENM
(4715)
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30/10/2012
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RM3.48
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Accumulate
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RM3.80
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Genm(3.48) – the current retracement of about 75% of its rally from 3.35 to 3.81
provides an opportunity to build a position in Genm. It is trading at
attractive valuations vis-à-vis the market with PER of 12.5x and 11.6x for
FY12 and FY13 respectively. Recent Q2 results have shown improvements mainly
from its UK operations gaining traction. With the recently reported strong
UK’s Q3 GDP growth (contributed by the
London Olympics), Genm is also a play on a significantly improved Q3 results
going into the reporting season. The other potential kicker for the stock
could be the announcement of a USD4bn casino-hotel project in Vietnam’s Chu
Lai economic zone. Accumulate
(PT)
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Calls for OCT Week 3 / Week 4
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STOCK
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Initiation Dates
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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 since Initiated
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SUNWAY (5211)
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22/10/2012
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RM2.32
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Trading BUY
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RM2.60
|
RM2.40
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3.40%
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HAIO (7668)
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22/10/2012
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RM2.18
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BUY
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RM2.50
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RM2.24
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2.75%
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ARMADA (5210)
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23/10/2012
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RM3.70
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BUY
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RM4.20
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RM3.89
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5.10%
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PMETAL (8869)
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23/10/2012
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RM1.75
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Trading BUY
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RM1.91
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RM1.74
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-0.57%
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SCABLE (5170)
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24/10/2012
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RM1.69
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BUY
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RM2.20
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RM1.68
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-0.59%
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FABER (1368)
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24/10/2012
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RM1.49
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Trading BUY
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RM1.72
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RM1.44
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-3.35%
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DIJACOR (5401)
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25/10/2012
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RM1.04
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Trading BUY
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RM1.20
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RM1.05
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0.96%
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MAXIS (6012)
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25/10/2012
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RM6.89
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BUY
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RM
7.50
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RM6.95
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0.87%
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TRC (5054)
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29/10/2012
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RM0.585
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BUY
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RM0.73
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RM0.605
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3.4%
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MKLAND (8893)
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29/10/2012
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RM0.375
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BUY
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RM0.465
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RM0.38
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1.33%
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