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FLOWS
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Friday, 17 April, 2015
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BUY
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MAYBANK, AXIATA, TENAGA, SKPETRO
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SELL
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MISC, FGV, ECOWLD
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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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GOB (1147)
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17/04/2015
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RM0.555
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Trading BUY
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RM0.64
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GOB
– Renewed interest in this company could come from the entrance of Ecoworld
into Batu Kawan as It has a
remaining 350-acre landbank in Batu Kawan,representing almost 80% of its
total landbank and neighbouring the proposed golf course and theme park land.
The company also recently concluded the sale of 15.56acof land in Taman
equine to Summit view for a consideration of RM142.35m resulting in a gain of
RM85.22m. Half the proceeds will be used to repay bank borrowing and the bal
working cap. This reduces gearing from 0.41 to 0.19. Trading at a 40% disc to
its RNAV we rate it a buy with an immediate upside target of RM0.62.
(DN)
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GASMSIA (5209)
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17/04/2015
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RM2.68
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TRIM
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-
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GASM – With the introduction of the incentive
based regulatory frame work in the 2H of this year, margins are likely to
suffer as higher mix of LNG vs pipe gas will not be so easily passed on.
Current lofty valuations of 28x PE 2015 is thus unwarranted with its limited
growth potential and unexciting yield of 3%. We recommend a trim at these
levels.
(DN)
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Calls for APRIL WEEK 2 / WEEK 3 2015
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STOCK
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Initiation
Dates
|
Initiation
price
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BUY/SELL
|
TARGET
PRICE
|
LAST PRICE
|
% Change
since Initiated
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QCAPITA (5123)
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10/04/2015
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RM1.22
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ACCUMULATE
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RM1.34
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RM1.21
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-0.9%
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YTLPOWR (6742)
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10/04/2015
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RM1.54
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Trading BUY
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RM1.80
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RM1.54
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0.0%
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BARAKAH (7251)
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13/04/2015
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RM0.855
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Trading BUY
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RM1.10
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RM0.94
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+9.9%
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GKENT (3204)
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13/04/2015
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RM1.26
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Trading BUY
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RM1.50
|
RM1.26
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0.0%
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SNTORIA (5213)
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14/04/2015
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RM1.05
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BUY
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RM1.30
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RM1.06
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+0.9%
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VITROX (0097)
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14/04/2015
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RM3.51
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TRIM
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-
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RM3.57
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+1.7%
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PANTECH (5125)
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15/04/2015
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RM0.73
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ACCUMULATE
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RM0.94
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RM0.77
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+5.4%
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SKPETRO (5218)
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15/04/2015
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RM2.40
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Trading BUY
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RM2.75
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RM2.68
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+11.6%
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PESTECH (5219)
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16/04/2015
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RM4.90
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BUY
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RM5.50
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RM5.00
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+2.0%
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TEOSENG (7252)
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16/04/2015
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RM1.92
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ACCUMULATE
|
RM2.30
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RM1.97
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+2.6%
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Performance
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Positive
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Negative
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Neutral
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