Tuesday, March 24, 2015

Morning Call | 24 March 2015


FLOWS
Tuesday, March 24, 2015
BUY
WCT, ASTRO, TENAGA
SELL
DIGI, WPRTS, MRCB
STOCK ALERT
STOCK NAME
DATE
PRICE
BUY/SELL
TARGET PRICE
KNM (7164)
24/03/2015
RM0.635
ACCUMULATE
-
Trading buy on weakness ahead of its ex date on the 25/3. Recall that the company has ann a 1:5 rights @ 50c with a 1:2 warrants with every 2 rights. Recent proposed acq of a Thai company involved in renewable energy and earlier JV with a Korean based Hansol EME will further strengthen its recurring income stream and insulate it from commodity fluctuations. Its P/L should also continue to show improvement this year trading at below 10x PE. With limited downside risk and price catalyst of awards in RAPID contracts we recommend accumulate.
(DN)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TAANN(5012)  
24/03/2015
RM3.90
ACCUMULATE
RM4.50
4Q earnings are likely to be reflective of the year ahead for the company with low CPO prices offset by timber logging division. This base earnings should be the basis to support its current yield of around 4%. Price continues to consolidate btw the RM3.80-RM4.00 band. A break out of this band could be triggered by better than expected numbers particularly from its timber div after last year’s restructuring of the division. We rate it an accumulate with a medium term target of RM4.50.
(DN)
 
 
 
Calls for MARCH WEEK 3/WEEK 4 2015
STOCK
Initiation Dates
Initiation price
BUY/SELL
TARGET PRICE
LAST PRICE
% Change since Initiated
MPHBCAP (5237)
17/03/2015
RM2.02
ACCUMULATE
-
RM2.00
-1.0%
IWCITY (1589) 
17/03/2015
RM1.16
ACCUMULATE
-
RM1.19
+2.5%
ECONBHD (5253)
18/03/2015
RM0.99
Trading BUY
RM1.22.
RM1.00
+1.0%
GAMUDA (5398) 
18/03/2015
RM5.17
BUY
-
RM5.17
0.0%
BURSA (1818)
19/03/2015
RM8.48
TRIM
-
RM8.52
+0.4%
PRESBHD (5204) 
19/03/2015
RM2.35
ACCUMULATE
RM3.14
RM2.22
-5.6%
UZMA (7250)
20/03/2015
RM2.01
BUY
RM2.50
RM1.99
-0.5%
MISC (3816) 
20/03/2015
RM8.39
TRIM
-
RM8.34
-0.6%
TAMBUN (5191)
23/03/2015
RM1.84
ACCUMULATE
RM2.10
RM1.84
0.0%
MMCCORP (2194) 
23/03/2015
RM2.40
BUY
RM3.00
RM2.45
+2.0%
 
 
Performance
Positive
 
Negative
 
Neutral