FLOWS
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Thursday, 21 March, 2013
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BUY
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IOIC, GENTING,
UEMLAND
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SELL
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KNM, MAYBANK, WCT
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STOCK 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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PENERGY(5133)
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21/3/2013
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RM1.26
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BUY
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RM1.47
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Penergy(1.26) – buy call for a major laggard in the oil & gas sector,
trading at the bottom quartile of its last 10 years range. Stock found
critical support at the 61.8% Fibonacci retracement of 1.26 after it rallied
from 0.85 in Sept’11 to 1.94 in Aug’12. There had been earlier signs of stock
having bottomed before selling pressure emerged for the past week due
to the arbitrage opportunity from its rights (1:2 @ 1.15), which was trading
at a discount to the mother share. We expect Penergy to play catch up to the
other o&g stocks with its expertise in topside maintenance & HUCC
jobs as they will be one of the beneficiaries for the Pan-Malaysian Rm8-10bn
umbrella topside maintenance/HUCC jobs, expected to finalized by May’13. In
addition, its marginal field project may have positive newsflows with the
projected first oil by Aug’13. Penergy is also bidding for EOR jobs with
partner, Baker Hughes. Stock is currently trading at an attractive valuation
of PER 9.7x for FY13. Buy
(PT)
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MULPHA(3905)
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21/3/2013
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RM0.405
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Trading BUY
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RM0.50
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Mulpha(0.405) – stock broke out from the downtrend sloping line on
huge volume yesterday. It took out the 0.40 resistance with a potential
upside of the 1st target of 0.45. The weekly macd also has a
positive crossover after being in the doldrums for the last 6 months. Mulpha
will benefit from Iskandar play as it still has a remaining land bank of 600
acres of freehold land in Leisure Farm which is the one of the more
established property projects in Iskandar, having won FIABCI, CNBC, PAM &
other property awards since 2003 to2012. It currently has an NTA of 1.13,
hence trading at a very low valuation of 0.36x px/NTA. Trading buy
(PT)
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Calls for MARCH Week 2/Week 3
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STOCK
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Initiation Dates
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Initiation 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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TOPGLOV (7113)
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14/3/2013
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RM5.50
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Trading BUY
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RM5.80
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RM5.51
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+0.1%
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CIMB (1023)
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14/3/2013
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RM7.11
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SELL
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RM6.50
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RM7.17
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+0.9%
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MUHIBAH(5703)
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15/3/2013
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RM0.875
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BUY
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RM1.10
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RM1.01
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+13.4%
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RHBCAP (1066)
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15/3/2013
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RM8.30
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SELL
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RM7.80
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RM8.57
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+3.2%
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SIME(4197)
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18/3/2013
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RM9.00
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Trading BUY
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RM9.50
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RM9.19
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+2.1%
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MAXIS(6012)
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18/3/2013
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RM6.50
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TRIM
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RM6.21
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RM6.51
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+0.1%
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ARMADA(5210)
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19/3/2013
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RM3.72
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ACCUMULATE
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RM4.00
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RM3.76
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+1.0%
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SUNWAY(5211)
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19/3/2013
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RM2.73
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Take Profit
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Buyback RM2.50
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RM2.83
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+3.6%
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PAVREIT(5212)
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20/3/2013
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RM1.58
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SELL
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RM1.45
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RM1.61
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+1.9%
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CARLSBG(2836)
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20/3/2013
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RM14.06
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SELL
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RM12.50-13.00
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RM13.86
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-1.4%
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