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FLOWS
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Tuesday, 14 July, 2015
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BUY
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TM, SPSETIA, MMC
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SELL
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CMSB
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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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SENDAI (5205)
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14/07/2015
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RM0.97
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ACCUMULATE
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RM1.10
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Interest in the stock has picked up over the
past 6 weeks, following the 6 contracts that the group won totalling RM250m
(bringing YTD wins to RM1.1b). The contracts won were in UAE, Abu Dhabi,
India & Malaysia – a good spread of target markets. With this, estimated
outstanding OB is lifted to RM1.9b, which should provide earnings visibility
for the next 2 years. We are positive as group has demonstrated that it can
deliver on promise to turnaround by superior OB & margins expansion. As
for job prospects, group has cRM10b tender book, mostly from the Middle
Eastern region; Trading at undemanding 8.6x FY16, Accumulate on weakness (TP
RM 1.10 based on 10x FY16 EPS, vs small mid cap PER range of 10-14x).
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UEMS (5148)
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14/07/2015
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RM0.995
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Trading BUY
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RM1.12
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Share price has remained depressed having
earlier fallen c25% from 2 months back, on concerns of its Johor property
exposure & removal from the MSCI Malaysia Index. We are positive on the
latest disposal of an office block & retail lot in Puteri Harbour to UEM
Group for RM138m cash, as it will lower the overall sales risk of the Puteri
Harbour project. Proceeds will be used to partly redeem the RCPS issued by
its subsidiary Bandar Nusajaya Devt SB (BNDSB), which owns the majority of
their land in Johor. Currently trading at a huge 77% disc to RNAV and P/Bk of
0.7x, we believe the negatives have been reflected. Catalyst ahead includes
further asset monetization by group which will mitigate sales risks; Trading
Buy ( TP RM1.12 on P/Bk 0.8x)
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Calls for JULY 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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PCHEM (5183)
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07/07/2015
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RM6.40
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TRIM
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RM5.50
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RM6.35
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-0.8%
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WCT (9679)
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07/07/2015
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RM1.38
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ACCUMULATE
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RM1.63
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RM1.45
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+5.0%
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CSCENIC (7202)
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08/07/2015
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RM1.22
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ACCUMULATE
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RM1.50
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RM1.22
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0.0%
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MMCCORP (2194)
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08/07/2015
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RM2.39
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ACCUMULATE
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RM3.00
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RM2.36
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-2.3%
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TMCLIFE (0101)
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09/07/2015
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RM0.56
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BUY
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RM0.62
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RM0.615
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+9.8%
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GTRONIC (7022)
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09/07/2015
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RM5.44
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ACCUMULATE
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RM6.00
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RM5.77
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+6.0%
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SALCON (8567)
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10/07/2015
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RM0.745
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ACCUMULATE
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RM1.05
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RM0.765
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+2.6%
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MUHIBBAH (5703)
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10/07/2015
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RM2.14
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ACCUMULATE
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RM2.74
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RM2.23
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+4.2%
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HUAYANG (5062)
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13/07/2015
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RM1.90
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ACCUMULATE
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RM2.40
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RM1.90
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0.0%
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BJAUTO (5248)
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13/07/2015
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RM2.50
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BUY on weakness
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RM3.00
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RM2.51
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+0.4%
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PERFORMANCE
ALERT
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STOCK
|
Initiation
dates
|
Initiation
price
|
Target
Price
|
Action
|
Returns
|
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SKPETRO (5218)
|
15/04/2015
|
RM2.40
|
RM2.75
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Take
profit
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14.5%
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UNISEM (5005)
|
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)
|
08/05/2015
|
RM0.845
|
RM1.10
|
Take
profit
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19.5%
|
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TOPGLOV (7113)
|
08/06/2015
|
RM5.47
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-
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Trading
Sell
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-
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KNM (7164)
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23/06/2015
|
RM0.54
|
RM0.62
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Trading
Sell
|
13.0%
|
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Performance
|
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Positive
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Negative
|
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Neutral
|
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