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FLOWS
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Thursday, 23 July, 2015
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BUY
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TM, CIMB
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SELL
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ASTRO, MISC
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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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ENGTEX (5056)
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23/07/2015
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RM1.29
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ACCUMULATE
on weakness
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RM1.60
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The resolution to the water impasse in
Selangor State could be a re-rating catalyst to ENGTEX, given that the long
overdue cement asbestos pipes replacement for over 6000km in Klang Valley.
This, together with over 40,000km of aged cement asbestos pipes in Malaysia
would provide strong growth potential to the group’s earnings in the medium
to long term. We believe it’s timely to accumulate the stock on any weakness
given the 60 days timeline since the signing of the water restructuring
supplementary agreement on the 11 July. Similiarly, other megaprojects the
group is eyeing are MRT, Langat 2 WTP, RAPID which will further boost demands
for pipes. Valuation still attractive at 6.4x for FY16; p/b only 0.7x.
Accumulate on weakness, S1 seen at RM1.20.
(RL)
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QL (7084)
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23/07/2015
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RM4.00
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BUY
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RM4.70
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Share price is currently at
the lower range of its tight trading band as it remained resilient during
these cautious times. Last Q results showed better growth in all segments as
i) higher contribution from Indonesia’s fishery, surimi-based products and
Sabah frozen seafood operations, ii) improved contribution from Indonesia
plantations operations, and iii) higher volume of feed raw materials. Moving
forward growth will come from more capacity expansion of its strongest growth
segment, the marine product manufacturing & new aqua businesses.
Currently trading at 19x Fwd PE for FY17 vs CY of 26x & 22x FY16 PE which
we think is relatively fair given its defensive growth track record. BUY with
a TP of RM4.70 based on 22x PE.
(RL)
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Calls for JULY 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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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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RM1.03
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+6.1%
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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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RM1.00
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+0.5%
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NAIM (5073)
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15/07/2015
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RM2.25
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BUY
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RM2.25
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RM2.33
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+3.5%
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CYPARK (5184)
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15/07/2015
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RM1.73
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BUY
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RM2.16
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RM1.80
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+4.0%
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SUNWAY (5211)
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20/07/2015
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RM3.47
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BUY
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RM3.76
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RM3.52
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+1.4%
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UZMA (7250)
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20/07/2015
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RM2.52
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ACCUMULATE
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RM2.84
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RM2.44
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-3.2%
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MFCB (3069)
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21/07/2015
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RM2.35
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Trading BUY
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RM2.80
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RM2.28
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-3.0%
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CMSB (2852)
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21/07/2015
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RM5.50
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Take Profit
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RM5.00
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RM5.72
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+4.0%
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TASCO (5140)
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22/07/2015
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RM3.99
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BUY
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RM4.94
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RM4.13
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+3.5%
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TOPGLOV (7113)
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22/07/2015
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RM7.77
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Sell into Strength
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BB - RM7.00
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RM7.67
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-1.3%
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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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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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KNM (7164)
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23/06/2015
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RM0.54
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RM0.62
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Trading
Sell
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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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