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FLOWS
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Wednesday, 3 April, 2013
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BUY
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CIMB, PBB, UEMLAND
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SELL
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DIALOG, IOIC,
MAYBANK
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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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UNISEM(5005)
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3/4/2013
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RM0.905
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Trading BUY
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RM1.10
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Unisem
(RM0.905) : the group is
going thru a restructuring of their business model into manufacturing new
products such as the wafer level chip (used in TV, smartphones, tablets etc),
flip chip & MEMS packaging that sees a higher demand, growth as well as
margin compared to their legacy product. Unisem had already written off most
of its older assets which was seen as a loss in FY12. Looking ahead, global
semi-conductor demand is on mends as global sales rose 1.4% in Feb. Unisem
will also benefit from the recent strength in the USD. Price of the stock
fell 27% from the recent high of RM1.17 and have consolidated well around
SMA20. Share price has formed a Bollinger squeeze and looks as if ready for a
break out. Volume has been convincing for the past few days. Trading Buy
RM1.10.
(TYK)
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EKOVEST(8877)
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3/4/2013
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RM2.88
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Trading BUY
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RM3.50
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Trading
volume of Ekovest pick up lately with share price breaking out from its
RM2.50 level and touched a high of RM3.01 before consolidating at RM2.80. We
see a trading buy opportunity as Ekovest is in the midst of injecting the
Duke highway with EGM seeking shareholder approval slated on 17th
April. The consideration of RM325.68mil shall be satisfied via the issuance
of new Ekovest shares at RM2.57 per share. DUKE has been cashflow positive
since 2011. Ekovest has approximately 30acres in the Klang Valley and
25.4acres in Johor Bahru which are carried at low cost. Eg: Cheras 11.5acres
is about RM60psf compared to current market price of RM400psf. Johor Bahru
land which is near the Danga Bay region is only carried at RM6psf compared to
recent transaction of RM200-300psf. Revaluing these land would create surplus
of almost RM460mil with RNAV/share of RM5.02. Ekovest is likely to benefit
from the booming Iskandar region and the impending listing of IWH which is
owned by Ekovest chairman and major shareholder Tan Sri Lim Kang Hoo. Trading
buy with initial TP: RM3.50 (TYK)
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Calls for MARCH Week 4/ APRIL
Week 1
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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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MHB(5186)
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27/3/2013
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RM3.82
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ACCUMULATE
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RM4.40
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RM3.78
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-1.0%
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BENALEC(5190)
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27/3/2013
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RM1.17
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BUY
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RM1.50
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RM1.18
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+0.8%
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MMCCORP(2194)
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28/3/2013
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RM2.55
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BUY
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RM2.75
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RM2.58
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+1.1%
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MUDAJYA(5085)
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28/3/2013
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RM2.38
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ACCUMULATE
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RM2.70
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RM2.39
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+0.4%
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OLDTOWN(5201)
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29/3/2013
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RM2.46
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Trading SELL
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RM2.20
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RM2.50
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+1.6%
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JTIASA(4383)
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29/3/2013
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RM1.80
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ACCUMULATE
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RM2.14
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RM1.78
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-1.1%
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TSH(9059)
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1/4/2013
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RM2.18
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Long Term BUY
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RM2.70
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RM2.20
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+0.9%
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HUAYANG(5062)
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1/4/2013
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RM1.81
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Strong BUY
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RM2.10
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RM1.89
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+4.4%
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YTL(4677)
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2/4/2013
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RM1.64
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ACCUMULATE
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RM2.00
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RM1.67
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+1.8%
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PERISAI(0047)
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2/4/2013
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RM1.08
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BUY
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RM1.40
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RM1.11
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+2.7%
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