FLOWS
|
Monday, 01 December, 2014
|
|||||||||
BUY
|
BARAKAH, IHH, CIMB
|
|||||||||
SELL
|
MAXIS, SKPETRO, MISC
|
|||||||||
STOCK ALERT
|
||||||||||
STOCK NAME
|
DATE
|
PRICE
|
BUY/SELL
|
TARGET PRICE
|
||||||
SPSETIA(8664)
|
01/12/2014
|
RM3.24
|
ACCUMULATE
|
RM3.50
|
||||||
is consolidating in a triangle pattern with a potential
break-out as it approaches its apex. With potential of assets injection from
the PNB portfolio of property development assets, SPSetia is a decent trade
at a level that is backed by attractive valuations. It trades at a steep
discount to its historical valuations, with FY10/15 PER & p/bk of 12.9x
& 1.28x, which is 1 standard deviation from historical PER of 19.2x &
p/bk of 1.94x. It trades at 35% discount to RNAV (versus historical mean
discount of 20%) with an unbilled sales of RM11.6b which is equivalent to
3.8x of FY13 turnover. SPSETIA has just been re-admitted into the latest
syariah-compliant list. As SPSetia is substantially held by GLCs (>85% of
PUC), it is a likely candidate for year-end window dressing. Accumulate
(PT/LJN)
 |
||||||||||
MRCB (1651)
|
1/12/2014
|
RM1.46
|
ACCUMULATE
|
RM1.60
|
||||||
the current weakness is
an opportunity to accumulate MRCB for its various existing & potential
catalytic developments such as: 1) the development of the various phases of
PJ Sentral & Kwasa Damansara ; 2) the completion of the deal to inject
Platinum Sentral into Quill Capita Trust & proposals for additional
disposal of MRCB’s other prime office/commercial buildings (notably Shell
Tower & Ascot Residences at KL Sentral)
to the Trust which is a continuation of MRCB’s degearing exercise that
is earnings accretive and free up capital for future investments: 3) the
takeover of the EDL Highway by the government as the current impasse of not
being allowed to collect toll on the highway need to be resolved; 4) the
Penang Sentral project in Butterworth to take off by early 2015; and 5) it
was reported that MRCB could possibly be a front runner for the RM800m Kepong
incinerator project. MRCB has an outstanding order book of RM4.1b (including
RM2.9b of internal building jobs). Accumulate on weakness (PT/LJN)
 |
||||||||||
Calls for NOV WEEK 3 | WEEK 4
2014
|
||||||||||
STOCK
|
Initiation
Dates
|
Initiation
price
|
BUY/SELL
|
TARGET
PRICE
|
LAST PRICE
|
% Change
since Initiated
|
||||
AMBANK(1015)
|
21/11/2014
|
RM6.58
|
ACCUMULATE
|
RM7.50
|
RM6.66
|
+1.2%
|
||||
CSCENIC(7202)
|
21/11/2014
|
RM1.26
|
ACCUMULATE
|
RM1.50
|
RM1.19
|
-5.5%
|
||||
UZMA (7250)
|
25/11/2014
|
RM2.50
|
TRADING BUY
|
RM3.00
|
RM2.05
|
-18.0%
|
||||
ARMADA (5210)
|
25/11/2014
|
RM1.41
|
ACCUMULATE
|
RM1.50
|
RM1.15
|
-18.4%
|
||||
FITTERS (9318)
|
26/11/2014
|
RM0.77
|
TRADING BUY
|
RM0.88
|
RM0.735
|
-4.5%
|
||||
TUNEINS (5230)
|
26/11/2014
|
RM1.85
|
ACCUMULATE
|
RM2.15
|
RM1.91
|
+3.24%
|
||||
TAMBUN (5191)
|
27/11/2014
|
RM2.19
|
ACCUMULATE
|
RM2.59
|
RM2.18
|
-0.5%
|
||||
MUHIBBAH (5703)
|
27/11/2014
|
RM2.47
|
TRADING BUY
|
RM2.82
|
RM2.32
|
-6.0%
|
||||
UCHITEC(7100)
|
28/11/2014
|
RM1.41
|
ACCUMULATE
|
RM1.60
|
RM1.39
|
-1.4%
|
||||
SKPRES (7155)
|
28/11/2014
|
RM0.725
|
BUY
|
RM0.84
|
RM0.735
|
+1.4%
|
||||
Performance
|
|
Positive
|
|
Negative
|
|
Neutral
|
|
