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FLOWS
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Friday, July 25, 2014
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BUY
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TENAGA,
IOIPG, UMW
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SELL
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MAYBANK, PBBANK,
CIMB
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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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PDZ (6254)
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25/7/2014
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RM0.16
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Trading BUY
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RM0.20
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Group signs of renewed interest in the
counter after a consolidation period since May after Pelaburan Mara Bhd (PMB)
paid an average cost of 18 sen per share or some RM41mil for a 26.83% stake
in the company. As part of their intention to inject assets into this
vehicle, PDZ announced its intention to acquire a 20% stake in Efogen Sdn Bhd
for RM18 million in cash from the current MD Johany Jaafar. Tan Sri Abdul
Rashid Abdul Manaf holds a 60% stake. The vendor warrants and guarantees that
the consolidated net operating profit of Efogen for the financial year ending
April 30, 2015 shall not be less than RM11.74 million or he will personally
make good. This effectively prices the injection at 7.6x PE. Efogen is mainly
involved in the chartering of vessels for oil and gas offshore support
services, providing geophysical services, trading in related information
technology software and hardware apparatus as well as providing consultancy
and maintenance services. The satisfaction of
the conditions precedent has been extended by an additional period of one
month expiring on 13 August 2014. Trading Buy with a target price of
20sen on the basis of further earnings enhancing assets to be injected.
(DN)
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PETDAG (5681)
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25/7/2014
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RM19.22
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ACCUMULATE
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RM22.00
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Stock is one of the worst performing CI (ranked 38th with a
weighting of 1.09%) names losing 39% YTD. Accounts for 1.09% of the component
index ranked 37. Selling sparked by weak 1Q earnings on lower retail margins
and more recently concerns over MAS as jet fuel accounts for 43% of sales
volumes. In an effort to diversify earnings, management has already earmarked
capex of RM200m for expansion into the region incl Philippines, Viet and
Thailand while another RM500m will be spent domestically to boost its number
of stations by another 30-40 this year. Currently trading at 19x PE we expect
the counter to rebound back to its historically mean of 22x. Accumulate,
target price RM22.
(DN)
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Calls for JULY WEEK 3/ WEEK 4 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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PHARMA (7081)
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18/7/2014
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RM4.83
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ACCUMULATE
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RM5.40
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RM4.86
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+0.6%
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YTL (4677)
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18/7/2014
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RM1.59
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BUY
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RM1.93
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RM1.58
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-0.7%
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PANTECH (5125)
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21/7/2014
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RM1.14
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ACCUMULATE
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RM1.30
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RM1.10
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-3.6%
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L&G (3174)
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21/7/2014
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RM0.565
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ACCUMULATE
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RM0.675
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RM0.58
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+2.6%
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POS (4634)
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22/7/2014
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RM5.33
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TRIM
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-
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RM5.22
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-2.1%
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PERISAI (0047)
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22/7/2014
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RM1.50
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ACCUMULATE
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RM1.88
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RM1.51
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+0.6%
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NAIM (5073)
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23/7/2014
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RM4.05
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BUY
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RM4.50
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RM4.02
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-0.8%
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GAMUDA (5398)
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23/7/2014
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RM4.76
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BUY
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RM5.30
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RM4.75
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-0.3%
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GASMSIA (5209)
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24/7/2014
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RM3.36
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ACCUMULATE
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RM3.65
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RM3.40
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+1.1%
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AFG (2488)
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24/7/2014
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RM5.04
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ACCUMULATE
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RM5.50
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RM5.04
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0.0%
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Performance
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Positive
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Negative
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Neutral
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