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FLOWS
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Wednesday, 26 February, 2014
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BUY
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TM,
IOIP, CIMB
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SELL
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PERISAI, SKPETRO,
TENAGA
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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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DRBHICOM (1619)
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26/2/2014
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RM2.68
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ACCUMULATE
on weakness
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RM2.95
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Stock has retraced 4% from its recent high and has
an initial support at RM2.63 which coincides with its SMA200 at RM2.64. The
fundamentals are improving with its main division, the Proton-led auto
division gaining market share with their new models, Suprima S & Saga SV,
due to their competitive pricing vis-Ã -vis Perodua cars, from parts
standardisation & streamlining of supply chain cost savings. This is part
of the Proton’s 5-year business plan which targets to sell 500,000 cars per
annum, including 150,000 units for exports, by 2017/18. Proton also plans to
produce a global small car by next year which would help them to further gain
back the market share lost to Perodua. Recently, it was reported that Proton
will deliver 3,000 units of the new Perdana replacement model to replace the
government’s existing fleet. DRB said that they have also received requests
from state governments and statutory bodies to make the switch as well. There
were recent news flow of impending introduction of mandatory inspection of
passenger vehicles. DRB’s subsidiary, Puspakom, which has the sole concession
to undertake computerised inspections for all commercial vehicles until
31/8/2024 will likely be the main beneficiary from this move. The recent
removal of big cap institutional stocks like Bumi Armada, AirAsia, YTL Power,
SPSetia, Tan Chong & MRCB from the Syariah-compliant list will coerce
Syariah-compliant funds to look for alternative stocks to reallocate their
funds and DRB will likely be one of the four bigger cap additions that they
can switch into. Accumulate on weakness
(PT/LJN)
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IRCB
(2127)
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26/2/2014
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RM0.375
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Trading BUY
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RM0.55
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After hitting a 3-year high of RM0.55 in Sept’13
following the announcement of a debt settlement scheme with its bankers &
non-financial creditors coupled with debts forgiven of RM25.7m, and the
proposed capitalisation of RM44.8m advancement from its managing director,
Cheang Phoy Kean, (substantial shareholder & appointed as the MD of the
company in Jan’13) & Keen Setup Sdn Bhd via the issuance of 224m new ordinary
shares of RM0.20 each in IRCB with 112m new warrants attached. Since then,
IRCB has been consolidating in a symmetrical triangle pattern with the chart
now approaching the apex of the triangle signifying a potential break-out
soon. The catalyst for this may come in the form of the release from its
current PN 17 status as the company has submitted a proposed regularisation
plan to Bursa Malaysia in Dec’13 and is awaiting Bursa’s approval. In
addition, for its latest 3Q’FY14 results, the company has reported a significant
turnaround with an operating profit of RM2.76m versus last year corresponding
quarter’s loss of RM9.95m and
2Q’FY14 operating loss of RM7.41m. Trading buy
(PT/LJN)
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Calls for FEB Week 2/Week 32014
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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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MPHBCAP (5237)
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19/2/2014
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RM1.78
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ACCUMULATE
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RM2.00
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RM1.88
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+5.7%
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WASEONG (5142)
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19/2/2014
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RM1.99
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ACCUMULATE
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RM2.50
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RM1.99
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0.0%
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UMWOG (5243)
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20/2/2014
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RM4.39
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BUY
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RM4.80
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RM4.29
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-2.3%
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MUHIBAH (5703)
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20/2/2014
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RM2.64
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SELL
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RM2.30
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RM2.57
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-2.7%
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SEALINK (5145)
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21/2/2014
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RM0.445
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BUY
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RM0.55
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RM0.45
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+1.1%
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PENERGY (5133)
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21/2/2014
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RM2.34
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ACCUMULATE
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RM2.70
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RM2.35
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+0.4%
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KIMLUN (5171)
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24/2/2014
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RM1.59
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ACCUMULATE
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RM1.96
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RM1.61
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+1.2%
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TSH (9059)
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24/2/2014
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RM3.00
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ACCUMULATE
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RM3.60
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RM3.00
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0.0%
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GTRONIC (7022)
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25/2/2014
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RM3.28
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ACCUMULATE
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RM4.00
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RM3.26
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-0.7%
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TDM (2054)
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25/2/2014
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RM0.94
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ACCUMULATE
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RM1.50
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RM0.935
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-0.6%
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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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