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FLOWS
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Tuesday, 10 September, 2013
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BUY
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GENTING, TM, SPSETIA
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SELL
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TENAGA, 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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HARTA (5168)
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10/9/2013
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RM7.04
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SELL into strength
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RM6.20
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Share price trading near
its all time high of RM7.14. This is a good opportunity to sell into
strength. Valuation appears steep trading at 20xFY14 PER with earnings growth
of only 13%. 5yr PE is only 12.3x while ROE has been on a steady decline
falling from 40% in 2009 to 33.7% in 2013. Company has also hedge USD
currency for the next 6 months hence unlikely to benefit from recent
strength. Rubber price is up 10% from its low in Aug with potential further
upside after Thai govt announced plans to support rubber price. Improving
economic data in
(TYK)
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TROP (5401)
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10/9/2013
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RM1.56
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Trading BUY
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RM1.89
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Share price has fallen to its lowest level since May
after hitting a high of RM2.12 (-26%) as property sector is underweighted
ahead of possible increase in RPGT. Trop has not rebounded despite Property
index recovering 5.6% from recent selldown. We believe any negative news
should be priced in TROP as we see strong support at RM1.55 lvl. Key catalyst
could come from upcoming EGM on Friday as shareholders approve acquisition of
Canal city land with GDV of RM8.6bn. Trop has also entered into LOI with CMMT
to divest its Tropicana Mall and offices which could potentially raise
RM550mil in proceed. To date Trop has achieved RM1.3bn sales with RM2.1bn to
be launces in 2H. Trades at 8.8xPE with dividend yield of 4%. RSI is oversold
at 22. Trading Buy with TP: RM1.89 (50% discount to RNAV)
(TYK)
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Calls for SEPT Week 1
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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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DAYANG (5141)
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3/9/2013
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RM4.42
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BUY
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RM5.40
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RM4.62
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+4.5%
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IJMLAND (5215)
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3/9/2013
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RM2.41
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BUY
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RM2.85
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RM2.45
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+1.6%
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PBBANK (1295)
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4/9/2013
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RM17.22
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Take Profit
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-
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RM17.58
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+2.0%
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AIRASIA (5099)
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4/9/2013
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RM2.56
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ACCUMULATE
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RM3.00
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RM2.51
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-2.0%
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CMSB (2852)
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5/9/2013
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RM4.53
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ACCUMULATE
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RM5.30
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RM4.55
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+0.4%
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PERISAI (0047)
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5/9/2013
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RM1.25
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ACCUMULATE
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RM1.65
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RM1.30
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+4.0%
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GTRONIC (7022)
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6/9/2013
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RM2.61
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BUY
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RM3.10
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RM2.70
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+3.4%
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MMCCORP (2194)
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6/9/2013
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RM2.50
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TRIM
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RM2.30
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RM2.58
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+3.2%
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HLI (3301)
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9/9/2013
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RM5.14
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ACCUMULATE
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RM6.00
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RM5.30
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+3.1%
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CIMB (1023)
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9/9/2013
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RM7.19
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ACCUMULATE
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RM8.50
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RM7.40
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+2.9%
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HOLD
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CONT SELL
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SELL/ TAKE PROFIT
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CONT BUY
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STRONG BUY
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