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FLOWS
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Friday, 19 June, 2015
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BUY
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MAXIS, MISC
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SELL
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TENAGA, GENTING
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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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HAPSENG (3034)
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19/06/2015
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RM5.03
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TAKE PROFIT
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RM4.00
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has
outperformed over the last 12 mths, gaining 61% vs FBMEmas -8%. With technical
indicators flashing overbought (rsi @ 78) coupled with potential negative
divergences on the rsi & macd, it’s time to take profit. Its 1Q15 PBT was
-14% yoy & 29% qoq - difficult op conditions in the plantation,
fertilizer trading & trading divisions. With the sharp slowdown in
domestic spending, there is downside risk in its other divisions – credit
financing, automotive & especially ppty with reliance on the luxurious
condominium sector. Last year’s record profit contributed substantially from
ppty will pose a high hurdler for results ahead. Historical high valuations -
FY14 p/bk 2.6x, PER 14.1x vs 5-yr average 1.2x & 9.1x. (PT)
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ASTRO (6399)
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19/06/2015
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RM2.97
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BUY
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RM3.40
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current foreign liquidation of emg mkts,
despite Astro’s strong 1Q16 results (core net profit +29%) provides buying
opportunity. Its dominant mkt share & increasing operating leverage (as
capex drops on absence of set-top box upgrades & lower content library
capex) gives credence to its 3-yrs eps CAGR of 20% & potentially paying
higher div yield than current cons FY1/16 & FY1/17 4.2% & 4.9% yield.
Forex risk has been minimized with USD loan fully hedged & content costs
100% & 50% hedged for FY16 & Fy17 resp. With 64% penetration rate, a
significant future growth catalyst is the home shopping biz which exhibited
strong growth (+48% qoq) in 1Q16 results. It is also technically attractive
as held support @ 2.88/90 on huge volume & close significantly above
intraday low. Buy (TP: RM3,40). (PT)
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Calls for JUNE WEEK 2 / WEEK 3 2015
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STOCK
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Initiation
Dates
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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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TIMECOM (5031)
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12/06/2015
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RM6.58
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TAKE PROFIT
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BB – RM5.80
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RM6.41
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-2.6%
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TAANN (5012)
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12/06/2015
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RM3.91
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ACCUMULATE
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RM4.50
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RM3.86
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-1.3%
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HOVID (7213)
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15/06/2015
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RM0.535
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TAKE PROFIT
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BB – RM0.47
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RM0.505
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-5.6%
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BPURI (5932)
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15/06/2015
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RM0.54
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BUY
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RM0.66
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RM0.545
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+0.9%
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TAKAFUL (6139)
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16/06/2015
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RM4.17
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SELL into Strength
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BB – RM3.36
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RM3.88
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-7.0%
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GAB (3255)
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16/06/2015
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RM14.58
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Switch
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CARLSBRG
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RM14.42
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-1.0%
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SHL (6017)
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17/06/2015
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RM3.23
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BUY
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RM4.00
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RM3.20
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-0.9%
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SLP (7248)
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17/06/2015
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RM1.21
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Switch
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TGUAN
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RM1.41
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+16.5%
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HEVEA (5095)
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18/06/2015
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RM3.36
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ACCUMULATE
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RM4.00
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RM3.38
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+0.6%
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SCGM (7247)
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18/06/2015
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RM3.32
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TRIM
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BB – RM2.70
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RM3.32
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+0.0%
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PERFORMANCE
ALERT
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STOCK
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Initiation
dates
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Initiation
price
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Target
Price
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Action
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Returns
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GHLSYS (0021)
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31/03/2015
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RM0.96
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RM1.15
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Take
Profit
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19.7%
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MATRIX (5236)
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03/04/2015
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RM2.73
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RM3.12
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Take
Profit
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14.2%
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SKPETRO (5218)
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15/04/2015
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RM2.40
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RM2.75
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Take
profit
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14.5%
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UNISEM (5005)
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22/04/2015
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RM2.60
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BB
– RM2.30
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Trading
buy
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-
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SKPRES (7155)
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08/05/2015
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RM0.845
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RM1.10
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Take
profit
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19.5%
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TOPGLOV (7113)
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08/06/2015
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RM5.47
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-
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Trading
Sell
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-
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Performance
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Positive
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Negative
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Neutral
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