FLOWS
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Monday, May 13, 2013
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BUY
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GENTING, TM, PERDANA
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SELL
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TNB, SIME, AXIATA
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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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DAYA(0091)
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13/5/2013
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RM0.22
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Trading BUY
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RM0.26
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The share price has consolidated largely between the
RM0.20-0.22 level for the past 4 month, and has lagged the recent run-up in
prices of the other O&G names. Daya has a very healthy OB of RM1.8b,
comprising RM460m O&G contracts & RM1.34b technical services
contracts. The OB dwarfs its market capitalization of RM274m. Group is
tipped to win a further RM1b worth of O&G contracts in 2013. News-flow
has been strong recently, with the latest being the award from Braun Medical
Industries for extension work for its manufacturing facilities in Bayan
Lepas, Penang worth RM228m. Other catalysts include a) the M&A angle,
where we have seen increasing M&A activities in the O&G sector. We
also do not discount the possibility of Daya being a potential M&A target
b) strong BS with low gearing & healthy operating cash flows, putting it in
a strategic position to gear up for investment opportunities. Trading at PE
of 9.6x FY12/2013, P/Bk of 1.16x, a laggard play - Trading Buy. (AK)
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MYEG(0138)
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13/5/2013
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RM1.18
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Trading SELL
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RM1.06
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Interest in MYEG has largely been on the back of its
defensive business with recurring income & supported by its above market
25% 3-year EPS CAGR. More recently, reports of it being in the race for Time
Engineering’s 45% Khazanah stake ( although denied by MYEG) & it’s
likelihood of signing the concession agreement for the Custom Service Tax
Monitoring system (CSTM) has escalated interest in the stock. However, stock
price has jumped up c45% over the past 6 trading days from RM0.84and is now
trading at 16x 2014 PE. Besides, earnings from its new services ( Foreign
workers working permit renewal & online vehicle voluntary transfer
system) are only expected after 2014 as these gain more customers. We see
MYEG as fully valued at current valuation, but still like it’s prospects
moving forward – Trading Sell ( buyback at RM1.06, PE 14x FY06/14).(AK)
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Calls for MAY Week 1/ Week 2
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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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TAMBUN(5191)
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6/5/2013
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RM0.94
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ACCUMULATE
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RM1.12
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RM1.16
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+23%%
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SENDAI(5205)
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6/5/2013
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RM1.07
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BUY
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RM1.41
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RM1.26
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+17.1%
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RHBCAP(1066)
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7/5/2013
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RM8.65
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BUY
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RM10.00
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RM8.76
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+1.1%
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GLOMAC(5020)
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7/5/2013
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RM1.01
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BUY
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RM1.16
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RM1.13
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+11.2%
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ARMADA(5210)
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8/5/2013
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RM3.98
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ACCUMULATE
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RM4.40
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RM3.95
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-0.7%
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MRCB(1651)
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8/5/2013
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RM1.63
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Trading BUY
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RM2.00
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RM1.67
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+2.4%
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GADANG(9261)
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9/5/2013
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RM0.695
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BUY
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RM0.86
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RM0.70
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+0.7%
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MALTON(6181)
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9/5/2013
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RM0.535
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Mid-term BUY
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RM0.70
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RM0.585
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+9.3%
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MAS-OR(3786OR)
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10/5/2013
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RM0.075/RM0.365
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BUY
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RM0.545
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RM0.65
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-13.3%
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LIONIND(4235)
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10/5/2013
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RM1.08
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BUY
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RM1.40
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RM1.10
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+2.0%
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