TUNEINS (RM1.60): Since retracing from its recent high
of RM2.20 share price has consolidated well at the RM1.60 level after touching a
low of RM1.53 with RSI at 33%. TuneIns main growth business segment in travel
insurance (TI) is shielded because of improving regional growth, especially in
core countries of Thailand & Indonesia as well as falling oil prices.
Currently trades at 13.5xFY15 PER with CAGR exceeding 20% for next 2 years.
Accumulate with TP: RM2.00. (TYK)
MMCCORP (RM2.36): Share price closed above its double
bottom neckline of RM2.34 offering a short term upside potential of RM2.52
(16sen). MMC is also a potential beneficiary of year end closing next week. We
believe current levels offers limited downside as it trades near its 5 year key
support level of RM2.20 level. Key catalyst will be the listing of Malakoff in
2Q2015 while recent acquisition of NCB could see MMC leveraging on NCB as a
vehicle to list both MMC’s port businesses i.e. PTP and Johor Port. MMC is also
a major beneficiary of Malaysia’s infra play with 2014 orderbook replenishment
hitting RM1.4bn bringing outstanding orderbook to RM3.4bn. MMC (in a consortium
with Sumitomo) is also tipped for the HSR contract. Accumulate with TP: RM3.21
(20% discount to SOP). (TYK)
