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FLOWS
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Friday, 18 April, 2014
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BUY
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MISC,
IOICORP, TENAGA
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SELL
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ASTRO, DIGI, TIMECOM
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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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MRCB (1651)
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18/4/2014
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RM1.62
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BUY
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RM2.20
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Share price has been
consolidating at this level for more than 2 weeks. RSI is neutral at 54%.
Recently, the property sector is in favor and the share prices on these
stocks are on the uptrend. It may soon to be MRCB’s turn as the Group has
some catalysts which will accrete its value in the near term. Just recently,
the group has signed off on an RM750m asset injection exercise which
kick-starts its rationalizing plans under the new management. It will end up
with up to a 32% associate stake in the listed Quill Capita Trust REIT, which
it will use for future asset injections. Apart from that, other favorable
prospects including the likely positive outcome for the PJ Sentral land, the
government's decision on the tolling of the Eastern Dispersal Link (EDL)
highway, new REIT-related deals for key assets in KL Sentral, tenders for the
RRI Land development in which the group has the advantage due to its
expertise in transport oriented developments (TOD) and construction job flows
including the RM800m domestic rail rehabilitation project in which MRCB was
granted a letter of intent (LOI). Last but not least, the group is tipped to
be one of the frontrunners of the Kwasa Damansara project. Buy with a TP of
RM2.20.
(KL)
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SPSETIA (8664)
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18/4/2014
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RM2.92
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Trading BUY
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RM3.20
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Share price has been trading
in the RM 2.90 range from the beginning of March after the recent spike to RM
3.06 supported with volume. The current valuation of the share price is
believed to have largely factored in the loss of key management personnel,
declining property sales and market position. Therefore, the prolonged
undervaluation on the stock will likely
prompt PNB to
re-strategize the company, either through
asset injections or
introducing a new
leader. Given that SP Setia’s
current COO Dato’ Voon Tin Yow will assume the role of acting president
and CEO for only one year, ie
1 May 2014-30
April 2015, PNB should have
some plans underway. Meanwhile, news flow on potential M&As for SP
Setia should be investors’ new focus as PNB’s
RM 3.95 takeover offer price
two years ago
sets the benchmark
for any other M&A proposals. Investors’ trading
interest could come back over the near term, as the worst could be over.
Trading buy with an immediate target price of the previous high at RM3.20.
(KL)
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Calls for APRIL 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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MUDAJYA (5085)
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11/4/2014
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RM2.83
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BUY
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RM3.56
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RM2.77
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-2.2%
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HSL (6238)
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11/4/2014
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RM1.80
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ACCUMULATE
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RM2.50
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RM1.84
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+2.2%
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SKPETRO (5218)
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14/4/2014
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RM4.35
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BUY
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RM4.80
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RM4.25
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-2.3%
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ASTRO (6399)
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14/4/2014
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RM3.35
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Sell Into Strength
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-
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RM3.30
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-1.5%
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NAIM (5073)
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15/4/2014
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RM3.83
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BUY
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RM4.40
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RM4.04
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+5.4%
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GOB (1147)
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15/4/2014
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RM0.91
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BUY
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RM1.18
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RM1.03
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+13.0%
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CRESNDO (6718)
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16/4/2014
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RM3.06
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BUY
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RM3.60
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RM3.07
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+0.3%
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TIME (4456)
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16/4/2014
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RM0.27
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Trading BUY
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RM0.38
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RM0.275
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+1.8%
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MAHSING (8583)
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17/4/2014
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RM2.29
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Accumulate
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RM2.69
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RM2.30
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+0.4%
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TIMECOM (5031)
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17/4/2014
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RM4.65
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SELL
into Strength
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RM4.20
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RM4.34
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-6.7%
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Given that our call initiated on the 10 April 2014 to buy PMETAL
(8869) has achieved our target of RM3.10,
we advocate a take
profit on the stock.
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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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