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FLOWS
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Friday, 02 November, 2012
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BUY
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CIMB, SUPERMX, YTL
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SELL
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DIALOG, IOICORP
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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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ASTRO
(6399)
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02/11/2012
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RM2.71
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TRADING BUY
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RM2.86
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ASTRO (RM2.71) - we are
making a purely technical call as we believe the stock has achieved a short
term support level at RM2.71 after its initial listing high of RM3.11. Just
to recap, a total of RM1.518bn shares were offered at RM3.00 consisting of
Institutions incl bumi (1.258bn), Public (103.9m) and Employees (155.9m).
Since listing a total of over 606m shares have been transacted at an average
price of RM2.904. Short term indicators are showing signs of possible rebound
back to about the RM2.86 levels with a stop loss price of RM2.68 as despite
its strong cash flows and visibility in earnings, valuations by traditional
yardsticks remain high at PE 30x for FYE 2013. Trading Buy
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TEBRAU
(1589)
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02/11/2012
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RM0.685
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BUY
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RM0.80
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Tebrau (RM0.685) - price has drifted back down to a low of RM0.635
after the closing of its MGO by IWH in August @ RM0.76. IWH now owns 46.7% of
the company after the MGO. The company has about 408ha of undeveloped land in
the increasingly popular area of Iskandar, but the fact that its landbank is
mostly underwater and near Pantai Senibong, which fronts Singapore's
Sembawang district has deterred investors away. The entrance of IWH is seen
as a game changer with their development expertise and success in the area.
Furthermore it has
been appointed as the developer of 165.2ha of land in Pengerang, Kota
Tingggi, by the state government. It is set to gain more future jobs as it
also won a RM153.98 million job as the main contractor for site clearance and
earthworks for the relocation of villagers in the Pengerang area.It also has
the potential to be roped in to develop a township in the same area to
support the needs of the workers of the refinery and petrochemical integrated
development (Rapid) project in Pengerang. All these factors augurs well for
the company's future especially with traction gaining significantly for the
Iskandar Region. BUY with an immediate target of RM0.80
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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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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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RM1.06
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1.92%
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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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RM6.97
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1.16%
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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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RM0.585
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0.00%
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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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1.13%
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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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RM2.39
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1.13%
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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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RM3.58
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2.87%
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SENDAI (5205)
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31/10/2012
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RM1.44
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BUY
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RM1.65
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RM1.44
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0.00%
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JTIASA (4383)
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31/10/2012
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RM2.33
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Accumulate
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RM2.60
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RM2.29
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-1.72%
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MAS (3786)
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01/11/2012
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RM1.03
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TRADING BUY
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RM1.24
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RM1.03
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0.00%
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POS (4634)
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01/11/2012
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RM3.02
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BUY
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RM3.80
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RM3.04
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0.66%
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