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FLOWS
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Monday, 25 August, 2014
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BUY
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SKPETRO, MAYBANK, CIMB
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SELL
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MAYBANK, DIGI, 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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ALAM (5115)
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25/8/2014
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RM1.45
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ACCUMULATE
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RM1.65
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Seems to have
found support at the RM1.44/45 level which has held especially on Friday
despite announcing a lower-than-expected 2Q14 results. Alam is
consolidating in an ascending triangle pattern since July'13, with the
current downwward move a potential final leg of a 5-wave
flag consolidation. It is at the lower end of its trading range
which provides a lower risk entry level for the stock. In Bursa filings,
major shareholders, Hong Leong Co & Caprice Capital bought shares at
slightly higher prices recently. Fundamentally, Alam is trading at a
discount compared to its mid and small cap peers with FY15 PER & p/bk of
11.9x & 1.5x versus its peers’ FY15 average PER & p/bk of
13.5x & 2.0x. In addition, Alam is also tipped to be a front runner for a
slice of the RM1.8b – RM2.0b of contracts for the supply of underwater
services with the acquisition of a 51% stake in a diving support
vessel. Accumulate
(PT)
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AIRPORT (5014)
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25/8/2014
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RM7.91
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TRIM
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BB- RM7.50
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Stock has retraced 76.4% of its loss since 21/7/14 (high of RM8.14),
just 3 days before the announcement of its surprisingly bad results for 2Q14,
to an intraday low of RM7.25. The volume traded since its low has been
significantly lower than when the stock plunged post its results which
signifies that this rally is a technical bounce. Hence, the current
retracement is an opportunity to fade this rally as the second half
of the year will continue to be challenging with the company continuing to
miss consensus earnings. KLIA main terminal traffic dropped 9% m-o-m &
KLIA2 traffic also fell 8.8% m-o-m in July'14. MH370 & MH17 mishaps are
depressing sentiment on air travel and has impinged on Airport's revenue.
While 2Q14 results reported a sharp increase in depreciation, amortization,
utility cost, staff cost and finance charges on the opening of KLIA2 as some
of the costs were capitalized when the KLIA2 was under construction. This
sharp increase in costs will persist in the 2nd half, in addition to the
share of JV's losses as the company has acquired additional
40% stake in its Turkish associates. Reduce exposure now and reassess to
buy back below RM7.50
(PT)
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Calls for AUGUST WEEK 2/ WEEK
3 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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UMWOG (5243)
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18/8/2014
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RM4.05
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ACCUMULATE
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RM4.53
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RM4.05
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0.0%
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PRESBHD (5204)
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18/8/2014
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RM2.25
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ACCUMULATE
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RM2.70
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RM2.24
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-0.5%
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SBCCORP (5207)
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19/8/2014
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RM2.17
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Trading BUY
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RM2.91
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RM2.14
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-1.4%
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MUHIBBAH (5703)
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19/8/2014
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RM3.14
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Trading BUY
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RM3.50
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RM3.04
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-3.2%
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SILKHLD (5078)
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20/8/2014
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RM1.11
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BUY
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RM1.25
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RM1.08
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-2.8%
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PANTECH (5125)
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20/8/2014
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RM1.06
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ACCUMULATE
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RM1.25
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RM1.05
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-1.0%
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TM(4863)
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21/8/2014
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RM6.24
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ACCUMULATE
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RM6.80
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RM6.25
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+0.1%
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MISC (3816)
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21/8/2014
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RM6.91
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TRIM
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-
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RM6.90
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-0.2%
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SURIA (6521)
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22/8/2014
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RM2.61
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ACCUMULATE
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RM3.25
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RM2.57
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-1.6%
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FABER (1368)
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22/8/2014
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RM3.30
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ACCUMULATE
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RM3.92
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RM3.47
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+5.1%
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Performance
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Positive
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Negative
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Neutral
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