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FLOWS
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Monday, 23 March, 2015
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BUY
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TENAGA, MAYBANK, PBBANK
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SELL
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GENM, ASTRO, DIGI
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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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TAMBUN (5191)
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23/03/2015
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RM1.84
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ACCUMULATE
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RM2.10
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Recent proposed acquisition of 18.8acres of freehold residential land
located 5km from Bkt Mertajam (RM47.5psf) which is expected to be completed
by 2Q’15 should provide a short-term boost to the stock cementing Co’s
landbanking strategy to be the largest listed landbank owner in mainland
Penang. Growth is further strengthened by recurring rental income from
its Pearl City Business Park which is likely to be completed by mid-15.
Trades at undemanding 6.1x & 5.3x PE whilst yielding 5.8% & 6.5% FY15
and FY16 respectively. Accumulate.
(SPK)
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MMCCORP (5194)
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23/03/2015
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RM2.40
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BUY
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RM3.00
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Imminent relisting of Malakoff in 2Q’15 will substantially reduce
MMC’s debt from savings in interest costs. Having had the indicative IPO
price set at RM1.80, valuing Malakoff at RM9b (consensus RM6.9b), there will
likely be upside in its SOP valuation which translates to a TP of RM3.31
(implying 20% discount on total value of RM12.61b). The TP implies a FY15 PER
of 25.7x which is inline with its 5-year average of 25x and RSI oversold @
28. Buy.
(SPK)
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Calls for MARCH WEEK 3/WEEK 4
2015
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STOCK
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Initiation
Dates
|
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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MHB (5186)
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16/03/2015
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RM1.21
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Buy on Weakness
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RM1.45
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RM1.11
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-8.3%
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MKH (6114)
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16/03/2015
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RM2.80
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Accumulate
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RM3.60
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RM2.81
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+0.3%
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MPHBCAP (5237)
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17/03/2015
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RM2.02
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ACCUMULATE
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-
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RM2.01
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-0.5%
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IWCITY (1589)
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17/03/2015
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RM1.16
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ACCUMULATE
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-
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RM1.20
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+3.4%
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ECONBHD (5253)
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18/03/2015
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RM0.99
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Trading BUY
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RM1.22.
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RM0.98
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-1.1%
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GAMUDA (5398)
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18/03/2015
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RM5.17
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BUY
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-
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RM5.16
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-0.2%
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BURSA (1818)
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19/03/2015
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RM8.48
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TRIM
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-
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RM8.60
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+1.4%
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PRESBHD (5204)
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19/03/2015
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RM2.35
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ACCUMULATE
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RM3.14
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RM2.25
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-4.3%
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UZMA (7250)
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20/03/2015
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RM2.01
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BUY
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RM2.50
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RM1.96
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-2.5%
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MISC (3816)
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20/03/2015
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RM8.39
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TRIM
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-
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RM8.49
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+1.1%
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Performance
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Positive
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Negative
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Neutral
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