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FLOWS
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Friday, 28 June 2013
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BUY
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CIMB, KLK, YTL
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SELL
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DIALOG, IOICORP, RHBCAP
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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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UEMS(5148)
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28/6/2013
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RM3.08
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Trading SELL
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BUYBACK RM < 2.60
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Recently
the property sector is fraud with policy risks with expectations of the
central bank taking steps to stem out speculation and temper the heated
property market, especially the Johor Iskandar region where demand is further
fuelled by Singaporeans. The Johor government has also sounded out that they will
be increasing property taxes in Johor with foreigners bearing higher rates
than the locals. UEMS trades at a premium in the property sector with
prospective PER of 25x & 24x for the next 2 financial years compared to
sector PER of 18x & 16x; and discount to RNAV of 12% versus property
sector’s 25%-35% discount toRNAV. UEMS has also seen its foreign shareholding
increase quite significantly for the last 6 months, hence would be relatively
more vulnerable in the current environment where the foreign funds are
exiting the emerging markets. Technically, the stock broke down from the
RM3.19 neckline of its head & shoulder formation with a minimum downside
target of RM2.75 - this is within with the upside gap of RM2.53-RM2.82 which
is yet to be filled. Trading sell & buy back <RM2.60.
(PT)
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SILKHLD(5078)
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28/6/2013
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RM0.395
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BUY
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RM0.50
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Derives 80% of its revenue and >100% of
its PBT from the oil & gas sector. Its other legacy business being the
operator & concessionaire of the SILK Highway which has been loss-making
since its inception, although the losses have been reduced in recent years
due to the increasing traffic. This stock is a major laggard in the O&G
sector with strong operating leverage in the next few years from its offshore
vessels fleet expansion programme. SILKHDG’s fleet size was increased by 1/3
from 12 to 18 offshore vessels late last year and it has purchased an
additional 3 AHTs vessels to be delivered from the 2H’2013 to early 2014. In
addition, SILKHDG is enjoying vastly improved chartering rates compared to
last year. There has also been an ownership change last year and the addition
of the ex-Chairman of Bursa, Mohammed Azlan Hashim, early this year. The
influential Mohammed Azlan, coupled with the fact that SILKHDG has no
institutional following currently, and an O&G stock with a story to tell
is a potent brew for its future price performance. Buy
(PT)
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Calls for JUNE Week 3 & 4
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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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IHH(5225)
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21/6/2013
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RM4.03
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TAKE PROFIT
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-
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RM3.89
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-3.5%
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E&O(3417)
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21/6/2013
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RM1.84
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BUY
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RM2.05
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RM2.03
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+10.3%
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FAVCO(7229)
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24/6/2013
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RM2.86
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ACCUMULATE
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RM3.40
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RM2.87
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+0.3%
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TROP-WA(5401WA)
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24/6/2013
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RM0.865
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Trading BUY
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RM1.50
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RM0.84
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-2.9%
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KOSSAN(7153)
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25/6/2013
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RM4.81
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SELL
into Strength
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RM4.00
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RM4.92
(ex)
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+2.2%
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AIRASIA(5099)
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25/6/2013
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RM3.06
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ACCUMULATE
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RM3.60
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RM3.08
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+0.6%
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GAMUDA(5398)
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26/6/2013
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RM4.45
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ACCUMULATE
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RM5.20
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RM4.56
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+2.4%
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SKPETRO(5218)
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26/6/2013
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RM3.86
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ACCUMULATE
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RM4.50
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RM3.97
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+2.8%
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UOADEV(5200)
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27/6/2013
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RM2.23
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BUY
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RM2.70
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RM2.32
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+4.0%
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LIONIND(4235)
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27/6/2013
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RM0.975
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BUY
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RM1.40
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RM0.99
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+1.5%
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