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FLOWS
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Friday, 20 September, 2013
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BUY
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CIMB, GAMUDA, KLK
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SELL
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IJMLAND, E&O, TM
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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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INARI (0166)
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20/9/2013
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RM0.90
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BUY
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RM1.01
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Group is an electronic manufacturing services
company mainly involved in the assembly & test of its RF related ICs
primarily for the wireless communication segment and assembly of other
back-end semiconductor packaging. The
US-listed semiconductor multinational, Avago Technologies has a 9% stake via
its Malaysian subsidiary. Its recent FY13 results showed a 111% yoy
improvement in its net profit due to its increased exposure in the fast
growing smartphone & tablet segment. The company has increased its share
of business from its key customer for the lucrative RF testing work. The
company is expanding its capacity by 20%
for FY14 on healthy demand from its key markets. In addition, its investments
in 2 subsidiaries (a wholly-owned sub which has a fibre optic facility in
Johor & a 51%-owned sub which manufactures power supply equipment &
automotive tests systems) are expected to contribute in FY14. Inari has
attractive growth parameters and yet it trades an attractive prospective PERs
of 6.4x & 5.0x and div yield of 6.4% & 7.9% for the next 2 years. Buy
(PT/JN)
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PANTECH (5125)
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20/9/2013
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RM0.99
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BUY
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RM1.10
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Stock is poised to take out its resistance of
Rm1.00 with the current bullish momentum in the O&G sector & the
sharp increase in volume after having consolidated its rebound from the
July’s sharp correction for the past week. The technical indicators are also
supportive of higher prices with initial target of RM1.10. After a seasonally
slower 1QFY14 due to uncertainties from the general elections, earnings will
accelerate in the subsequent quarters from the pick-up in activities in the
local O&G sector and the contributions from new markets via UK Nautic
Steels. Pantech has comparatively lower valuation with forward PERs of 8.8x
& 8.3x for the next 2 FYs compared to its peers in the small & mid
cap O&G sector of 13.9x & 11.7x. Buy
(PT/JN)
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Calls for SEPT 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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MAS (3786)
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12/9/2013
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RM0.32
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Trading BUY
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RM0.38
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RM0.325
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+1.5%
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AIRPORT (5014)
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12/9/2013
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RM7.10
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SELL
into strength
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RM6.54
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RM7.25
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+2.1%
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UZMA (7250)
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13/9/2013
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RM4.57
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SELL
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RM3.85
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RM4.39
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-4.0%
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IJM (3336)
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13/9/2013
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RM5.57
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BUY
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RM6.50
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RM5.66
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+1.6%
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CMSB (2852)
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17/9/2013
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RM4.59
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BUY
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RM4.98
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RM5.30
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+15.4%
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UMW (4588)
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17/9/2013
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RM12.26
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ACCUMULATE
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RM13.10
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RM12.78
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+4.2%
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PMETAL (8869)
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18/9/2013
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RM2.09
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ACCUMULATE
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RM2.87
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RM2.23
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+6.6%
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CARLSBG (2836)
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18/9/2013
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RM12.86
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TRIM
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RM11.70
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RM12.86
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0.0%
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BURSA (1818)
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19/9/2013
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RM7.56
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BUY
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RM8.88
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RM7.61
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+0.6%
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SKPETRO(5218)
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19/9/2013
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RM3.67
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ACCUMULATE
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RM4.60
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RM3.79
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+3.2%
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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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