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FLOWS
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Monday, 19 November, 2012
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BUY
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SIME, GENTING, TM
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SELL
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KNM, MAYBANK, WCT
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SECTOR ALERT
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STOCK NAME
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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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YTLP (6742)
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19/11/2012
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RM1.53
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BUY
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RM1.70
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YTLPOWR (RM1.53) –
selling momentum continues to push the price lower, falling a further 20% in
the last 4 months especially after failing to extend its 1st Generation PPA
expiring in Sept 2015. The selling looks over done at this level as its
Malaysian power operation contribution in 2015 is projected to contribute
less than 10% to group earnings. Furthermore the market has also chosen to
ignore the signicant win by 60% YTL Comm for the 1 Bestarinet project awarded
by the government which will has accelerated the monetizing objective of its
4G network. Prospects of parent company YTL Corp privatizing its 44.65% held
YTL Power remain very real especially in view of the RM9.6bn cash held in the
latter. Trading at almost half its historical mean P/bk level of 2.0x, we
rate it a buy with an upside of RM1.70. (RL)
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RHBCAP (1066)
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19/11/2012
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RM7.60
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BUY
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RM8.20
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RHBCap
(RM7.50) – the sell
down today especially closer down to the RM7.40 level (sma 200) represents a
good opportunity to accumulate the stock. The current weakness could possibly
linked to fears that OSK could be selling down their position. Recall that
RHB Cap acquired OSK IB for RM1.99bn via cash and 245m shares @ RM7.36. These
shares were recently listed. We do not think the selling is likely as OSK
personal has been retained at several key positions in the merged IB. Further
details of the groups ambitions and business plan should be known on the 22
Nov when the bank announces its 3Q numbers. Trading currently at 10x PE and
1.2x P/Bk, it appears cheap compared to the large banking peers who trade
around the 2x P/Bk range. We have an immediate target of RM8.20 and longer
term target of RM10.00 or 1.6x P/bk.(DN)
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Calls for OCT Week 3 / Week 4
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STOCK
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Initiation Dates
|
Initiation price
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BUY/SELL
|
TARGET
PRICE
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LAST
PRICE
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% Change since Initiated
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BJTOTO(1562)
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08/11/2012
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RM4.32
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Defensive BUY
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RM4.65
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RM4.32
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+0.4%
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SUPERMX(7106)
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08/11/2012
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RM2.07
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ACCUMULATE
|
RM2.08
|
RM2.01
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-3.01%
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DRBHCOM (1619)
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09/11/2012
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RM2.40
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Trading BUY
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RM2.80
|
RM2.43
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0.9%
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CMSB (2852)
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09/11/2012
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RM3.28
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ACCUMULATE
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RM3.60
|
RM3.29
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+0.00%
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GAMUDA (5398)
|
12/11/2012
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RM3.66
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BUY
|
RM4.00
|
RM3.69
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+1.0%
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UEMLAND (5148)
|
12/11/2012
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RM2.13
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TRIM
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RM1.90
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RM2.26
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+6.1%
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KLK (2445)
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14/11/2012
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RM20.72
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BUY
|
RM4.00
|
RM20.74
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+0.01%
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TWSPLNT (6327)
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14/11/2012
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RM4.03
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BUY
|
RM1.90
|
RM4.00
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-0.8%
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COASTAL (5071)
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16/11/2012
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RM2.01
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BUY
|
RM2.40
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RM2.01
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+0.00%
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QL (7084)
|
16/11/2012
|
RM3.15
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BUY
|
RM3.55
|
RM3.22
|
+2.0%
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