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FLOWS
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Friday, 28 November, 2014
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BUY
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GENM, TENAGA, AXIATA
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SELL
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TM, SKPETRO, YTL
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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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UCHITEC(7100)
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28/11/2014
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RM1.41
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ACCUMULATE
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RM1.60
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UCHITEC (RM1.41) - With the uncertainty of market
directions continue to suppress the overall sentiments, we believe that a div
yield strategy will be appropriate to weather these conditions. Currently
Uchitec’s value comes from its ability to maintain the 8.8% div (FY16) albeit
expecting flat growth in the near term. Long term however, the group will
look to increase its biotech products (high precision weighing scales and
centrifuges) to 50% from 25% of revenue in the next 3 years. At this phase,
the group is concentrating on more R&D work to optimize its operations by
means of technology enhancement. Currently, the group’s valuations seem
undemanding at 11.7x and pays 8.5% div yield (FY15). ACCUMULATE on weakness.
(RL)
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SKPRES (7155)
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28/11/2014
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RM0.725
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BUY
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RM0.84
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With plans to acquire Tecnic group (for RM200mil), the
group will emerge as one of the largest plastic manufacturing companies in
Msia. The group is aiming to achieve a 58% yoy growth in FY16 assuming the
acquisition can be completed by 1Q of 2015. Moving forward, the group also
expects to see better margin on the back of higher utilisation rate and
improved product mixed driven by Dyson’s 2 new product lines of vacuums and
fans next year. Currently the group is running at 80% utilisation and looks
to increase the overall capacity by another 75% within the next 3 years.
Group is net cash of approximately 10cents and is only trading at 11x PE for
FY16 and only 9 x for FY17. Group also pays dividend of 4.8% with a minimum
payout policy of 50%. BUY.
(RL)
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Calls for NOV 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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SPRITZER(7103)
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20/11/2014
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RM2.08
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ACCUMULATE
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RM2.40
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RM2.06
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-1.0%
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DIALOG(7277)
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20/11/2014
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RM1.50
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ACCUMULATE
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RM1.70
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RM1.53
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+2.0%
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AMBANK(1015)
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21/11/2014
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RM6.58
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ACCUMULATE
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RM7.50
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RM6.62
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+0.6%
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CSCENIC(7202)
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21/11/2014
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RM1.26
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ACCUMULATE
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RM1.50
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RM1.20
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-4.8%
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UZMA (7250)
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25/11/2014
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RM2.50
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TRADING BUY
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RM3.00
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RM2.50
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0.0%
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ARMADA (5210)
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25/11/2014
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RM1.41
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ACCUMULATE
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RM1.50
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RM1.28
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-9.3%
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FITTERS (9318)
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26/11/2014
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RM0.77
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TRADING BUY
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RM0.88
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RM0.74
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-3.9%
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TUNEINS (5230)
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26/11/2014
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RM1.85
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ACCUMULATE
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RM2.15
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RM1.92
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-3.7%
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TAMBUN (5191)
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27/11/2014
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RM2.19
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ACCUMULATE
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RM2.59
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RM2.18
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-0.5%
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MUHIBBAH (5703)
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27/11/2014
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RM2.47
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TRADING BUY
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RM2.82
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RM2.40
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-2.9%
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Performance
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Positive
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Negative
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Neutral
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