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FLOWS
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Friday, 10 January, 2014
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BUY
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GENTING,
PERDANA, DIALOG
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SELL
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MAYBULK, CIMB,
IOICORP
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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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PHARMA (7081)
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10/1/2013
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RM4.46
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BUY
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RM5.40
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Share
price currently sits on its 200MA and have retraced over 10% from its recent
peak of RM5.00. We believe this is a good entry level as FY14 is expected to
be a better year for company with government focusing on the wellbeing of its
citizen via new opening of 1Malaysia clinics and greater budget allocation for
hospitals. Company has also received EU certification that allows contract
manufacturing for European pharmaceutical companies. Another key rerating
catalyst would come from finalization of its proposed acquisition of PT
Errita Pharma (Errita), an Indonesian generic pharmaceutical products
manufacturer. This allows Pharma to penetrate and create its own branding in
Indonesia. Margins is also expected to be higher as law mandates that all
drugs registered in Indonesia must be locally manufactured. Indonesia has
also just launched the National Health Insurance which is targeted to cover
all citizens by 2019. Trades at 12.39xFY14 PER with dividend yield of 4%. Buy
with TP: RM5.40 (15xPER)
(TYK)
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SCIENTX (4731)
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10/1/2013
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RM5.53
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BUY
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RM6.64
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Trades
at cheap valuation at 6.66xJulFY15 PER for a company that is the largest
stretch film producer in Asia and top 3 globally in terms of capacity.
Company’s growth plans remain intact and by July 2014, would have annual
capacities of 194k MT (+40k MT via 3 new production lines) for the stretch
film segment and 51k MT for the blown film segment (+17k MT via 5 new
production lines). This would reduce bottlenecks in the blown film capacity
which would open up opportunities to utilise the excess capacities in its
downstream printing and lamination segments, which entails better margins.
More than 80% of products are exported overseas hence benefiting from a
stronger USD. Its property segment will be supported by its targeted launches
in both affordable homes and high end projects with most township
developments situated in Johor namely Pasir Gudang, Kulai, Skudai and Senai.
JulFYE15 yield is also reasonable at 4.88%. Buy with TP: RM6.64 (8xFY15PER)
(TYK)
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Calls for JAN week 1/Week 2 2014
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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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MUHIBBAH (5703)
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3/1/2013
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RM2.31
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BUY
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RM3.00
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RM2.38
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+3.0%
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GADANG (9261)
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3/1/2013
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RM1.02
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BUY
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RM1.60
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RM1.15
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+12.7%
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SENDAI (5205)
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6/1/2013
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RM1.03
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BUY
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RM1.29
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RM1.03
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0.0%
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ALAM(5115)
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6/1/2013
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RM1.53
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BUY
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RM1.80
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RM1.54
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+0.6%
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MALTON (6181)
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7/1/2013
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RM0.845
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Trading BUY
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RM1.45
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RM0.855
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+1.1%
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NAIM (5073)
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7/1/2013
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RM3.80
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ACCUMULATE
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RM5.16
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RM3.89
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+2.3%
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HUAYANG (5062)
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8/1/2013
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RM2.06
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BUY
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RM2.62
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RM2.06
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+0.0%
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PARKSON (5657)
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8/1/2013
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RM2.86
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ACCUMULATE
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RM3.45
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RM2.80
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-2.2%
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SPSETIA (8664)
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9/1/2013
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RM2.89
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Trading BUY
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RM3.30
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RM2.96
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+2.4%
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KKB (9466)
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9/1/2013
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RM2.60
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ACCUMULATE
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RM2.90
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RM2.61
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+0.3%
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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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