Morning Call | 31 May 2013

FLOWS

Friday, 31 May, 2013

BUY

MAYBANK, IJMLAND

SELL

DAYANG, GENM

STOCK ALERT

STOCK NAME

DATE

PRICE

BUY/SELL

TARGET PRICE

TIENWAH(7374)

31/5/2013

RM2.55

ACCUMULATE

RM3.00

Offers an attractive yield of 6.7% in a relatively defensive sector. Company core business is in specialising printing of cigarette cartons, consumer goods packaging, advertising materials as well as trading of cigarette packaging cartons. Company has a 10 year concession that expires in 2018 to supply BAT printing requirements in Australasia, Vietnam, Singapore and Malaysia. Tienwah also has a manufacturing plant in Vietnam which allows them to tap a market in Southeast Asia with strong growth. Revenue has been growing steadily in high single digit for past 3 years. Trades at PE of 8x. Accumulate TP:3.00 (TYK)

FAJAR(7047)

31/5/2013

RM0.72

BUY on weakness

RM0.83

Remains a laggard to construction play as it is only trading at 6.8xJunFY14PE. Recent earning weakness was mainly due to delays in executing LRT project. Orderbook stands at RM700mil. Company is a proxy for infra play such as MRT2 & 3. Fajar has also ventured into property development after purchasing freehold land in Sentul and Puchong. Expect to see strong support at 68-70sen lvl. TP: RM0.83 (8xFY14) (TYK)

Calls for MAY Week 3/ Week 4

STOCK

Initiation Dates

Initiation price

BUY/SELL

TARGET PRICE

LAST PRICE

% Change since Initiated

TAS (5149)

23/5/2013

RM0.51

BUY

RM0.69

RM0.500

-2.0%

GLOMAC (5020)

23/5/2013

RM1.36

SELL

RM1.22

RM1.29

-5.2%

MULPHA (3905)

27/5/2013

RM0.445

BUY

RM0.68

RM0.465

+4.4%%

GENTING (3182)

27/5/2013

RM10.30

Accumulate

RM11.78

RM10.26

-0.4%

PRESBHD (5204)

28/5/2013

RM1.70

ACCUMULATE

RM2.30

RM1.79

+5.2%

KIMLUN(5171)

28/5/2013

RM1.91

ACCUMULATE

RM2.26

RM2.33

+18.3%

HUNZPTY(5018)

29/5/2013

RM2.35

LONG TERM BUY

RM2.80

RM2.32

-1.3%

LAFMSIA(3794)

29/5/2013

RM10.98

TRADING SELL

RM9.75

RM10.90

-0.8%

TSRCAP(5042)

30/5/2013

RM0.81

Trading BUY

RM1.00

RM0.81

0.0%

BPURI(5932)

30/5/2013

RM0.805

Trading BUY on Weakness

RM1.00

RM0.785

+2.5%