|
FLOWS
|
Thursday, 29 Nov 2012
|
|||||||||||
|
BUY
|
GENTING, TM, DIGI
|
|||||||||||
|
SELL
|
TENAGA, MAS, AXIATA
|
|||||||||||
|
STOCK ALERT
|
||||||||||||
|
STOCK NAME
|
DATE
|
PRICE
|
BUY/SELL
|
TARGET PRICE
|
||||||||
|
SPSETIA (8664)
|
29/11/2012
|
RM3.05
|
Accumulate
|
RM3.40
|
||||||||
|
Stock has
retraced about 19% since news broke that SPSetia will be removed from the
MSCI Malaysian Index on 30/11/12. The stock is heavily oversold with
the technical indicators at the lowest level in the 3 years and the RSI at
13%. At this level, the negative news over its removal from the index should
have been discounted, and should there be further selling on 30/11/12, it
would be even a better opportunity to build a position in SPSetia. PNB and
its unit trusts’ general offer in March 2012 was at 3.95, hence there may be
possibility of year end dressing activities. SPSetia also announced yesterday
the conclusion of a deal to purchase 1,010 acres of land in Ulu Langat at an
attractive valuation of RM9 psf. This is highly positive as the deal has been
in dispute in the courts since last year. SPSetia
is currently trading at the lower end of its PER band with a PER of 13.9x for
FY10/13 and an attractive dividend yield of 4.6%.
(PT)
 |
||||||||||||
|
KULIM (2003
|
29/11/2012
|
RM4.28
|
BUY
|
RM4.70
|
||||||||
|
There seems to be persistent selling for
Kulim even though support has surfaced for other big cap plantation
stocks like KLK, IOI and GENP despite the fact that Kulim has better
valuations with p/bk at 0.85x and PER of FY13 at 13.4x versus its peers of
2x-3x p/bk and FY13 PER of >16x. In addition, on 6/11/12, Kulim’s Board
approved a special dividend of RM1.16b which works out to 0.90/share. The
stock is likely to spurt once the ex-date is set, hence it is appropriate now
to buy ahead of the impending announcement. Kulim is also heavily oversold
with RSI of 14% and recently when the GLCs, like Petgas and the telcos, hit
these levels, they rebounded strongly. It is also noted that the company has
been buying back shares from last month when the prices were up to 15% higher
from the current price. (PT)
 |
||||||||||||
|
Calls for NOV Week 3 / Week 4
|
||||||||||||
|
STOCK
|
Initiation Dates
|
Initiation price
|
BUY/SELL
|
TARGET
PRICE
|
LAST PRICE
|
% Change since Initiated
|
||||||
|
KNM (7164)
|
22/11/2012
|
RM0.50
|
Trading BUY
|
RM0.585
|
RM0.46
|
-8.6%
|
||||||
|
GENM (4715)
|
22/11/2012
|
RM3.45
|
Accumulate
|
RM3.68
|
RM3.43
|
-0.5%
|
||||||
|
WASEONG (5142)
|
23/11/2012
|
RM1.80
|
Accumulate
|
RM2.00
|
RM1.74
|
-3.4%
|
||||||
|
MBSB (1171)
|
23/11/2012
|
RM2.34
|
Trading BUY
|
RM2.80
|
RM2.27
|
-3.0%
|
||||||
|
WCT (9679)
|
26/11/2012
|
RM2.72
|
Accumulate
|
RM2.96
|
RM2.75
|
+1.1%
|
||||||
|
AIRPORT (5014)
|
26/11/2012
|
RM5.48
|
Trading BUY
|
RM5.70
|
RM5.19
|
-5.5%
|
||||||
|
GLOMAC(5020)
|
27/11/2012
|
RM0.815
|
BUY on weakness
|
RM1.00
|
RM0.81
|
+0.5%
|
||||||
|
BENALEC (5190)
|
27/11/2012
|
RM1.29
|
BUY on weakness
|
RM1.60
|
RM1.31
|
+1.5%
|
||||||
|
SUNREIT (5167)
|
28/11/2012
|
RM1.46
|
Accumulate
|
RM1.60
|
RM1.47
|
+0.6%
|
||||||
|
PADINI (7052)
|
28/11/2012
|
RM1.85
|
SELL
|
RM1.60
|
RM1.82
|
-1.6%
|
||||||
Thursday, November 29, 2012
Morning Call | 29 Nov 2012
