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FLOWS
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Thursday, 14 May, 2015
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BUY
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GENTING, DIGI, ARMADA
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SELL
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TENAGA, SKPETRO,
BJTOTO
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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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TITIJYA (5239)
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14/05/2015
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RM1.80
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BUY
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RM2.40
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We
reiterate our buy call on Titijaya as the price has drifted lower after the
implementation of GST dampener on the property sector, The company has
however not seen any adverse effect and is expected to post strong 3Q numbers
at the end of the month. Unbilled sales are how a respectable RM730m with
cash positive balance sheet enabling the company to fund its proposed
launches of its RM10bn GDV. EGM for the approvals of its 20.4ac acre
acquisition in Penang is on the 27th May. The site is expected to
generate a GDV of RM2.6bn with initial launch before year end. With its total
GDV close to RM10bn the counter remains severely undervalued. RM1.80
represents an excellent level to accumulate with an medium term target price
of RM2.40 which represents a 40% disc to its RNAV.
(DN)
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HOHUP (5169)
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14/05/2015
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RM1.35
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BUY
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RM1.80
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Price has retraced back to levels when the
company initially restructured and exited from PN17. Execution risk is now
lower as Malton has already launched shop offices at its JV Bukit Jalil
development where Ho Hup enjoys 18% of the GDV targeted at btw RM4bn-4.5bn.
Its own commercial development, Aurora Place on part of the remaining 10ac
site is sold out with further service apartment blocks planned for the
remaining land. The JV will generate between RM90-100m/pa for the next 7-8years
providing Ho Hup strong cash flow for future land banking. Based on a fully
diluted PUC of 392m shares, the company is trading at only 5x PE currently
and 4.3x forward. We rate it a buy with a target px of RM1.80.
(DN)
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Calls for MAY WEEK 1 / WEEK 2 2015
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STOCK
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Initiation
Dates
|
Initiation
price
|
BUY/SELL
|
TARGET
PRICE
|
LAST PRICE
|
% Change
since Initiated
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MRCB (1651)
|
07/05/2015
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RM1.33
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BUY
|
RM1.80
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RM1.32
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-0.8%
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DELEUM (5132)
|
07/05/2015
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RM1.65
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ACCUMULATE
|
RM1.90
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RM1.61
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-2.5%
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SKPRES (7155)
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08/05/2015
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RM0.845
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TRADING BUY
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RM1.00
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RM0.95
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+12.4%
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ECONBHD (5253)
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08/05/2015
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RM1.02
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TRADING BUY
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RM1.22
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RM1.08
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+5.9%
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AIRASIA (5099)
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11/05/2015
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RM2.23
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ACCUMULATE
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RM2.80
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RM2.24
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+0.4%
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UMWOG (5243)
|
11/05/2015
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RM2.17
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ACCUMULATE
|
RM2.60
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RM2.10
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-3.3%
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PRTASCO (5070)
|
12/05/2015
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RM1.93
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TRIM
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RM1.70
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RM1.90
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-1.6%
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EDUSPEC (0107)
|
12/05/2015
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RM0.37
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Trading BUY
|
RM0.42
|
RM0.365
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-1.4%
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CMSB (2852)
|
13/05/2015
|
RM5.21
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TRIM
|
BB - RM4.80
|
RM5.22
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+0.1%
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PARKSON (5657)
|
13/05/2015
|
RM2.15
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ACCUMULATE
|
RM2.50
|
RM2.12
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-1.4%
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PERFORMANCE
ALERT
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STOCK
|
Initiation
dates
|
Initiation
price
|
Target
Price
|
Action
|
Returns
|
|
GHLSYS (0021)
|
31/3/2015
|
RM0.96
|
RM1.15
|
Take
Profit
|
19.7%
|
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MATRIX (5236)
|
3/4/2015
|
RM2.73
|
RM3.12
|
Take
Profit
|
14.2%
|
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SKPETRO (5218)
|
15/4/2015
|
RM2.40
|
RM2.75
|
Take
profit
|
14.5%
|
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UNISEM (5005)
|
22/4/2015
|
RM2.60
|
BB
– RM2.30
|
Trading
buy
|
-
|
|
Performance
|
|
|
Positive
|
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Negative
|
|
|
Neutral
|
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