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FLOWS
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Friday, 2 October, 2015
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BUY
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WPRTS,
RHBCAP
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SELL
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AXIATA,
AIRPORT
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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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IOICORP (1961)
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02/10/2015
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RM4.40
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TRIM
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-
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IOI
(RM4.40) – the ramp up in px which is either short-covering or quarterly
rebalancing is an opportunity to fade this rally with IOI retracing 50% of
its plunge from its all-time high & being overbought with rsi of
71%. IOI may not benefit from higher CPO prices as 75% of its plantation
landbank in Sabah & Kalimantan, where the yield has been
the worst hit by the drier-than-normal weather. Its 31%
associate, Bumitama, also has 98% of its plantation land in Kalimantan. With
the weakness of the MYR, its USD1.48b borrowings is also a concern. Valuation
is expensive with forward PER of 25.9x vs 5-year average of 15.5x. Trim
(PT)
 |
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GASMSIA (5209)
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02/10/2015
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RM2.48
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TRIM
|
-
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|||||
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GasMsia
(GMB) RM2.48 - staged against challenging fundamentals with the
implementation of the Incentive-based regulation as early as Jan’16, GMB’s
ROE may fall from the current 13% to <10%, yet it has rebounded sharply by
28% over the past month to the current formidable resistance band of
2.44 - 2.48. This band used to be a strong support which held its
previous corrections for the 1st 7 months of the year before
breaking down in Aug'15. Trading at premium valuation of 24x PER vs 5-year
average of 21x coupled with negative to flat earnings growth for the next 3
forward FYs, the current rally is an opportunity to reduce exposure.
(PT)
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Calls for SEPT WEEK 4 OCT WEEK 1 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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IOIPG (5249)
|
25/09/2015
|
RM1.89
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SELL
|
1.60
|
RM1.99
|
+5.2%
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QL (7084)
|
25/09/2015
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RM4.01
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TRIM
|
-
|
RM4.00
|
-0.3%
|
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UMWOG (5243)
|
28/09/2015
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RM1.30
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TRIM
|
1.05
|
RM1.17
|
-10.0%
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MMC (2194)
|
28/09/2015
|
RM2.15
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SELL
|
RM1.80
|
RM2.15
|
0.0%
|
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HARTA (5168)
|
29/09/2015
|
RM4.98
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TRIM
|
RM3.80
|
RM4.73
|
-5.1%
|
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DSONIC (5216)
|
29/09/2015
|
RM1.45
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SELL
|
RM1.20
|
RM1.50
|
+3.4%
|
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SUNCON (5263)
|
30/09/2015
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RM1.15
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BUY
|
RM1.40
|
RM1.15
|
0.0%
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SIGN (7246)
|
30/09/2015
|
RM2.39
|
Take Profit
|
RM2.00
– 2.05
|
RM2.46
|
+2.9%
|
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VSI (6963)
|
01/10/2015
|
RM1.44
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TRIM
|
RM1.20
|
RM1.38
|
-4.2%
|
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TEOSENG (7252)
|
01/10/2015
|
RM1.52
|
ACCUMULATE
|
RM2.30
|
RM1.58
|
+3.9%
|
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PERFORMANCE
ALERT
|
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STOCK
|
Initiation dates
|
Initiation price
|
Target Price
|
Action
|
Returns
|
|
AIRPORT (5014)
|
03/09/2015
|
RM4.41
|
RM5.58
|
Take Profit
|
+25.6%
|
|
UZMA (7250)
|
04/09/2015
|
RM1.73
|
RM2.00
|
Take Profit
|
+15.6%
|
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UMWOG (5243)
|
28/09/2015
|
RM1.30
|
RM1.05
|
Buy Back
|
-
|
|
Performance
|
|
|
Positive
|
|
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Negative
|
|
|
Neutral
|
|
