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FLOWS
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Monday, 17 February, 2014
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BUY
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MAYBANK,
DIGI, GENM
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SELL
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TM, GENTING, IHH
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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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MMCCORP (5194)
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17/2/2014
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RM2.79
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Trading BUY
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RM3.20
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The RM2.79/.80 level used to be a resistance before MMC broke
above this level in May'13, and since then it has been a support for a few
retracements. Technically, the stock is a good bet at this level especially
with other confirming indicators like the RSI approaching its neutral
reference line and the macd on the verge of a positive crossover.
MMC is an asset-rich group trading at >30% discount to RNAV with
high possibility of corporate exercises that can monetised its assets &
reflect its true worth. Malakoff is target for listing in the 1st half of
this year after the deferment last year due to the upgrading works at
its Tanjong Bin power plant. There were also news report of MMC spinning
off its ports, namely 70% owned Port of Tanjong Perlepas & wholly
owned Johor Port. MMC has RM3b outstanding debts at the holding
company level and is expected to degear with sale or further JVs of
its valuable 2,600 acres of industrial land around the Senai
Airport in Johor. Analysts have said that the market value of this piece
of land could net off the entire RM3b debts. Finally, there is the
prospect of MMC itself being taken private as the stock is undervalued and
owners can extract more value from the individual listings of its prime
assets, coupled with the excuse it helps in its degearing/restructuring
exercise. Trading buy
(LJN/PT)
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MRCB (1651)
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17/2/2014
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RM1.48
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ACCUMULATE
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RM1.80
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The recent relative strength of MRCB’s trading pattern
confirmed its turnaround in its future prospects with the stock bucking
the broad emerging market sell off and finding support at its 38%
retracement level of its rally from RM1.23 to RM1.61. This is especially
pronounced when one considers that MRCB outperformed despite being in the
out-of-favour property sector. The catalysts for these favourable prospects
for the next few months are as follows: 1) By the end of Feb’14, the court’s
decision on PJ Sentral is likely to be known and a positive resolution will
lift MRCB’s RNAV significantly; 2) the deal to inject Platinum Sentral into
Quill Capita Trust will be signed by March’14 is part of MRCB’s degearing
exercise that is earnings accretive and at the same time free up capital for
further reinvestments; 3) MRCB is a front-runner for the Kwasa Damansara
project as EPF (a 39% shareholder) is the master developer and tenders are expected
to be called by April’14; 4) the takeover of the EDL Highway by the
government may be forth coming by May’14 as the current impasse of not being
allowed to collect toll on the highway is resolved; and 5) MRCB is likely to
report a sharp turnaround in its 4Q’13 results after the kitchen-sinking
provisions in the previous quarters. Accumulate
(LJN/PT)
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Calls for FEB 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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OLDTOWN (5201)
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10/2/2014
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RM2.01
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Trading BUY
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RM2.38
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RM1.89
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-6.0%
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TCHONG(4405)
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10/2/2014
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RM5.60
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ACCUMULATE
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RM7.31
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RM5.55
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-1.8%
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SCOMIES (7045)
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11/2/2014
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RM0.90
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BUY
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RM1.01
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RM0.995
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+10.5%
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MATRIX (5236)
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11/2/2014
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RM3.57
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BUY
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RM3.90
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RM3.81
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+6.7%
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KULIM (2003)
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12/2/2014
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RM3.19
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BUY
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RM3.50
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RM3.19
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+0.0%
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MHB (5186)
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12/2/2014
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RM3.68
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BUY
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RM4.13
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RM3.65
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-0.9%
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CMSB (2852)
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13/2/2014
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RM7.08
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ACCUMULATE
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RM8.00
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RM7.15
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+0.9%
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ZHULIAN (5131)
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13/2/2014
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RM3.16
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Trading BUY
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RM4.00
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RM3.12
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+1.2%
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PRESBHD (5204)
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14/2/2014
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RM3.07
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BUY
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RM3.40
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RM3.11
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+1.3%
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TAANN (5012)
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14/2/2014
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RM4.06
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BUY
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RM4.68
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RM4.15
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+2.2%
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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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