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FLOWS
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Tuesday, 21 May, 2013
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BUY
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GENTING, TM, SPSETIA
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SELL
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TENAGA, SIME, MISC
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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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TRC(5054)
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21/5/2013
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RM0.62
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ACCUMULATE on Weakness
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RM0.80
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Besides being a proxy to the MRT megaproject,
group is one of the few players in Peninsular Malaysia to own a UPK licence
which allows them to secure construction jobs in Sarawak and subsequently
benefit from the rolling out of more SCORE infrastructure project. YTD, group
has and outstanding orderbook of RM2bil including 2 packages under the MRT
project, some roadworks in Sarawak as well as the most recent JV project with
Prasarana to undertake developments in Ara Damansara. The JV agreement with
SPNB to development of a land spanned over 12acres with a GDV of 687mil. The
project would be developed into a commercial-residential area, compromising
of carparks, office units, a hotel, sohos as well as retail outlets. TRC’s
overall orderbook will be able to provide earnings visibility for the next 3
years without taking into account for more opportunities from SCORE.
Currently only trading at 8x FY14 PE, valuation is expected to catch up to
the bigger construction names which are trading at around an avg of 14x.
Stock has broken above its 1 year long downtrend to trade above strong
support of RM0.56. Accumulate on Weakness.
(RL)
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UEMLAND(5148)
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21/5/2013
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RM3.51
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Take Profit
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RM2.70
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Stock rallied 32% since the GE13 and has been
strongly supported even tho not much changes were seen fundamentally. The
group currently has 40bil GDV worth of jobs in its pipeline and is an
important beneficiary to the recent uptick in the Iskandar play but besides
its aggressive landbanking exercise, the group is without a near term
catalyst. Currently stock is trading at expensive valuations of 33x vs sector
average of 15x. Technical indicators are stretched with RSI at 76%. Take
profit and buy back closer to RM2.70 based on 27x PE which is their 3 years
PE avg.
(RL)
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Calls for MAY 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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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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RM0.265
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+20.4%
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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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RM1.38
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+16.9%
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TAANN(5012)
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14/5/2013
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RM3.52
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BUY
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RM4.03
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RM3.69
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+4.8%
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YTLPOWR(6742)
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14/5/2013
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RM1.55
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ACCUMULATE
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RM1.85
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RM1.52
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-1.9%
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MHB(5186)
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15/5/2013
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RM3.82
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BUY
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RM4.50
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RM3.67
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-4.0%
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KKB(9466)
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15/5/2013
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RM1.73
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ACCUMULATE
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RM2.50
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RM1.84
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+6.3%
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BONIA(9288)
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16/5/2013
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RM2.06
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BUY
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RM2.60
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RM1.99
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-3.4%
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HLI(3301)
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16/5/2013
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RM4.40
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BUY
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RM5.20
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RM4.39
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-0.2%
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IOICORP(1961)
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17/5/2013
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RM5.07
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BUY
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RM5.38
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RM5.29
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+4.3%
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MAYBANK (1155)
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17/5/2013
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RM10.00
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Accumulate On Weakness
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RM10.40
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RM10.08
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+0.8%
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