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FLOWS
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Tuesday, 5 August, 2014
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BUY
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YTL, DIGI,
PCHEM
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SELL
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GAMUDA, IOICORP,
SKPETRO
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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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KIANJOO (3522)
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5/8/2014
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RM3.06
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ACCUMULATE
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RM3.30
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Priced has suffered from the on going legal tussel as its price
retraced from RM3.40 in mid April to RM3.00 before bouncing to off its low.
Value in the group is underpinned by Aspire Insight S/B to buy over the
entire business and undertaking of Kian Joo for RM3.30 and more recently
Toyota Tsusho Corp expressed interest to buy a 51% for up to RM3.74/share.
Earnings for 1Q were affected by the weaker Viet Dong and the timing
difference in cost past through of higher raw material prices. A higher
utilization of its new installed capacity of 1.8bn alm cans/year should also
help economies of scale and improve efficiencies. Trading at 10x current year
PE, we feel that it should trade higher in line with at least the initial
offer by Aspire Insight of RM3.30. Accumulate.
(DN)
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HIAPTEK (5072)
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5/8/2014
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RM0.77
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BUY
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RM0.90
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Recent 9mth result has shown a change in fortunes for the pipe maker
with improved EBITA margins. Likely to be a beneficiary of the pipe
replacement program in Selangor which will now hopefully progress after the
HOA on the state water restructuring was signed. Technical indicator MACD is
starting to cut upwards with RSI still at neutral levels.Buy with an
immediate target of 90sen which would value it in line with the manufacturing
sector PE average of around 13x.
(DN)
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Calls for JULY 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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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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RM0.18
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+12.5%
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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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RM19.84
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+3.2%
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TROP (5401)
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30/7/2014
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RM1.44
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ACCUMULATE
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RM1.94
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RM1.40
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-2.8%
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MHB (5186)
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30/7/2014
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RM3.58
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ACCUMULATE
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RM4.10
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RM3.50
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-2.3%
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BRAHIMS (9474)
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31/7/2014
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RM1.77
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ACCUMULATE
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RM2.00
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RM1.74
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-1.7%
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AIRASIA (5099)
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31/7/2014
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RM2.44
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BUY on weakness
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RM2.75
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RM2.43
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-0.5%
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MAYBULK (5077)
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1/8/2014
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RM1.76
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ACCUMULATE
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RM2.20
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RM1.77
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+0.5%
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DESTINI (7212)
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1/8/2014
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RM0.705
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Trading BUY
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RM0.86
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RM0.69
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-2.2%
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PESTECH (5219)
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4/8/2014
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RM3.80
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Trading BUY
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RM4.40
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RM3.81
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+0.2%
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TDM (2054)
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4/8/2014
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RM0.985
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ACCUMULATE
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RM1.10
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RM0.97
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-1.6%
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Performance
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Positive
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Negative
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Neutral
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