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FLOWS
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Friday, 12 July, 2013
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BUY
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MAYBANK, DIGI, SKPETRO
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SELL
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TENAGA, GAMUDA
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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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MTDACPI(5924)
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12/7/2013
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RM0.555
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BUY
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RM0.76
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Despite the selling of Lembaga Tabung Haji
totalling 2.85m (1.23% of PUC) since the price spiked on the
announcement of the strong results for y/e 31/3/13 on 29/5/13, the stock has
managed to trade at the upper quartile of its recent 0.43 to 0.595 trading
range. This clearly signifies accumulation by strong hands. In addition, the
volume has shot up significantly this week and the macd technical indicator
has triggered a buy signal with its positive crossover. Fundamentally, the Q4
FY13 results showed that MTDACPI has turned around from his loss-making years
due to the lean contract years and the losses incurred from overseas
contracts. These legacy low margin overseas contracts have been completed and
fully provided for by y/e 31/3/12. Now the company has an outstanding order
book of RM1b (4x of FY13’s revenue), of which a minimum of 80% are secured
locally, which normally has lower execution risk, and the bulk of them are
from the Klang Valley MRT project where the company has comparative advantage
from their years of supplying concrete construction products for infrastructure
projects. Using the proforma results of Q4, excluding exceptional items,
MTDACPI may potentially achieve an eps of 13.3 sen (PER 4.2x) if assuming the
company continue to execute on its outstanding order book. With its forte in
concrete infrastructure products, the company is in good stead to secure the
many infrastructure contracts that the government will tender under the ETP
programme, hence a likely multi-year up cycle for the stock. Buy
(PT)
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GENTING (3182)
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12/7/2013
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RM9.98
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BUY
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RM10.58
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Genting (RM9.98) – is trading close to its
support line, a level where the risk: reward is favourable towards investors,
especially with the easing of risk premium & bond yields from Bernanke’s
statement on extended accommodative monetary policy and remarks on QE which
may have shifted market consensus for QE tapering by Sept’13 to a later date.
Genting is well-liked by foreign funds because of its liquidity & market
capitalization, hence an early beneficiary of any inflow of funds into
Malaysia. In addition, Hong Kong-listed casino stocks have already rallied
from 3% to 8% yesterday. Fundamentally, Genting is also trading at trough
valuation on an EV/EBITDA basis at 5.8x for FY14, close to the low during the
2003 SARS crisis and a discount of more than 30% vis-à-vis its regional
peers. Buy
(PT)
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Calls for JULY 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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ILB (5614)
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5/7/2013
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RM1.44
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BUY
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RM1.80
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RM1.44
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0.0%
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SCOMIES(7045)
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5/7/2013
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RM0.78
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Take
Profit into Strength
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RM0.66
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RM0.835
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+7.0%
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PADINI(7052)
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8/7/2013
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RM1.89
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ACCUMULATE
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RM2.20
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RM1.90
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-0.5%
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IJMLAND(5215)
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8/7/2013
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RM2.85
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ACCUMULATE
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RM3.30
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RM2.91
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+2.1%
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FITTERS (9318)
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9/7/2013
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RM0.745
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ACCUMULATE
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RM1.15
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RM0.73
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-2.1%
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OLDTOWN (5201)
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9/7/2013
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RM2.75
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BUY on weakness
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RM3.40
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RM2.74
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-0.4%
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POS(4634)
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10/7/2013
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RM4.80
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ACCUMULATE
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RM5.50
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RM4.80
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0.0%
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TMCLIFE(0101)
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10/7/2013
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RM0.395
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BUY
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RM0.50
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RM0.390
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-1.2%
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SUPERMX(7106)
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11/7/2013
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RM2.00
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SWITCH
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RM2.32
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RM2.00
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0.0%
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CRESBLD(8591)
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11/7/2013
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RM1.23
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BUY
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RM1.44
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RM1.25
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+1.6%
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