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FLOWS
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Friday, 29 November, 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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PANTECH (5125)
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29/11/2013
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RM0.995
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ACCUMULATE
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RM1.15
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Stock is a reputable one-stop pipes, fittings
and flow controls solutions provider which targets the higher-margin niche
market in the O&G sector. This is seen in the recent set of results where
margins improved as focus is shifted from the trading division to the
manufacturing of niche products for both the local & export markets. With
the rising project flows from the O&G sector and contributions from new
markets, courtesy of its recent acquisition, UK Nautic Steels, the company is
in well position to take advantage of this opportunity as it has readily
available capacity from in its manufacturing plant. Despite such positive
drivers, Pantech still trades at relatively low valuation of PER 8.9x &
8.3x for FY14 & FY15, and it also pays an attractive dividend yield of
close to 5%. The stock seems to have found support around the RM1.00 which is
a good entry level for 2014 positioning. Accumulate
(LJN/PT)
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MHB (5186)
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29/11/2013
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RM3.74
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ACCUMULATE
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RM5.20
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Share price has retraced >5% in the last 2 weeks since
the release of the Q3 results which was below market expectations due to
timing differences in profit recognition (e.g. accounting policy of 25%
completion for recognition) and variation orders from completed jobs (such as
Gemusut-Kakap FPS, Telok B topsides, Tapis R & Cendor FPSO conversion jobs)
which have not been finalised. Hence, Q4 results may provide a pleasant
surprise if the company & their clients can agree to finalise the
outstanding issues before the year is out. MHB is also trading close to its
support level of RM3.72/70 which have contained the downside during the
previous 2 corrections and coincide with Bursa filings disclosing LUTH
increased their position around the current level. MHB has very small
foreign shareholding of less than 2.5% which also explains its recent
defensive qualities, yet it may easily outperform if news flow turn positive.
Accumulate
(LJN/PT)
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Calls for NOV Week 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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UEMS (5148)
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22/11/2013
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RM2.25
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BUY
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RM2.55
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RM2.30
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+2.2%
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DAYA (0091)
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22/11/2013
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RM0.365
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BUY
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RM0.41
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RM0.375
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+2.7%
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SIME (4197)
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25/11/2013
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RM9.56
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BUY
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RM10.50
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RM9.63
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+0.7%
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SALCON (8567)
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25/11/2013
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RM0.665
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BUY
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RM0.75
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RM0.675
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+1.5%
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BJLAND (4219)
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26/11/2013
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RM0.815
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BUY
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RM1.47
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RM0.82(ex)
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+0.6%
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BSTEAD (2771)
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26/11/2013
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RM5.33
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ACCUMULATE
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RM6.00
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RM5.33
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0.0%
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BENALEC (5190)
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27/11/2013
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RM1.01
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Trading BUY
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RM1.23
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RM0.92
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-9.0%
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SURIA (6521)
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27/11/2013
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RM2.41
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ACCUMULATE
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RM3.44
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RM2.63
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+9.1%
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MAHSING (8583)
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28/11/2013
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RM2.16
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Trading BUY
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RM2.60
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RM2.17
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+0.4%
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GAMUDA (5398)
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28/11/2013
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RM4.76
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BUY on weakness
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RM5.20
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RM4.76
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0.0%
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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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