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FLOWS
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Friday, 14 June, 2013
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BUY
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MAYBANK, PCHEM, GASMSIA
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SELL
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BJTOTO,MRCB,GENM
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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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MAYBANK(1155)
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14/6/2013
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RM10.04
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BUY
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RM10.58
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Maybank
(RM10.04) – a solid core blue and a favourite in the banking sector which has
been sold down nearly 6% in 2 days because of the contagion of unwinding of
yen-related carry trades. It is at an attractive level now, trading at the
bottom of its recent trading range. Fundamentally, Maybank is also relatively
undervalued with forward PER of 13.7x and 12.9x for FY13 and FY14
respectively vis-à-vis its 5 years PER average of 17.5x. It also provides an
attractive dividend yield of 6.5% compared to benchmark Malaysian 10-year
bond yield of 3.5%. Buy
(PT)
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MRCB(1651)
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14/6/2013
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RM1.55
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BUY
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RM1.80
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Stock is
attractive at the current level as it has retraced 15% from its recent high
of RM1.82 and has pulled back more than 50% from its rally from RM1.34 to
RM1.82. The main catalyst for outperformance is the impending EGM planned for
this month to approve the proposed Nusa Garpurna group acquisition which is
highly positive for MRCB as it addresses its depleting landbank from the KL
Sentral development expected to be substantially completed in 2014. Out of
the total RM729m purchase consideration, RM618m (85%) will be settled by the
issue of shares priced at Rm1.55 which coincides with yesterday’s closing
price. In addition, MRCB will be helmed by an entrepreneurial CEO with a 22%
stake in the company who will be better motivated to take the company forward
in a sector that is expected to outperform. Buy
(PT)
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Calls for JUNE Week 1 &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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CMSB(2852)
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7/6/2013
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RM5.11
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BUY
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RM6.10
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RM5.40
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+5.6%
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PENERGY(5133)
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7/6/2013
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RM1.92
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ACCUMULATE
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RM2.23
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RM2.05
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+6.7%
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PMETAL(8869)
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10/6/2013
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RM2.57
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ACCUMULATE
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RM3.00
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RM2.38
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-7.4%
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MUHIBAH(5703)
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10/6/2013
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RM1.43
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BUY
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RM2.09
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RM1.35
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-5.6%
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PARKSON(5657)
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11/6/2013
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RM3.80
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ACCUMULATE
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RM4.45
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RM3.83
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+0.7%
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QL(7084)
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11/6/2013
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RM3.29
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Trading BUY
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RM3.59
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RM3.17
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-3.7%
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TM(4863)
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12/6/2013
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RM5.45
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ACCUMULATE
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RM6.00
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RM5.42
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-0.6%
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DSONIC(5216)
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12/6/2013
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RM3.16
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SELL
into Strength
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RM2.50
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RM2.94
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-7.0%
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GCB(5102)
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13/6/2013
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RM1.75
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BUY
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RM2.40
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RM1.73
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-1.2%
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NOTION(0083)
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13/6/2013
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RM0.76
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BUY
|
RM0.89
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RM0.735
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-3.3%
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Friday, June 14, 2013
Morning Call | 14 June 2013
