Tuesday, November 3, 2015

Morning Call | 30 October 2015


FLOWS
Friday, 30 October, 2015
BUY
SUPERMX, PBBANK
SELL
TENAGA, AXIATA, GENTING
STOCK ALERT
STOCK NAME
DATE
PRICE
BUY/SELL
TARGET PRICE
ECONBHD (5253)
30/10/2015
RM1.01
                   BUY
RM1.24
The prospects of the group remain bright, with OB remaining at RM512m ( end June ) & tender book of cRM1b. Tenders remain robust, with c90% related to piling works for property projects within the Klang Valley with awards expected soon. Group is also in a good position to bid for piling works under MRT2 & LRT3, of which tenders may come as soon as 2QCY16. It also achieved net margin improvements to 11% for FY15 (vs 8% in FY14) due to improved efficiency, lower tax rate & better product mix. Margin could also surprise on the upside in the coming quarters. Trading at just 8.9x FY06/17, we reckon Econbhd is still undervalued, judging from it’s strong fundamentals – strong financials ( net cash, superior earnings growth & improving margins) & compelling piling industry prospects; Buy (TP RM1.24, on 11x FY07/17). (AK)
 
 
SCIENTX (4731)
30/10/2015
RM7.66
                  TRIM
-
The share price has gained c8% over the past month. This was partly on the back of FY07/15 core earnings meeting expectations and expansion plans for it’s consumer packaging division being on track. Trading at 10x FY16, we reckon that it’s valuations remain rich. The overall property market is expected to remain challenging in 2016, especially in Johor. Sales trend could slacken due to tighter lending policies and poor market sentiment, although group is planning to launch more affordable houses. A stronger USD is expected to be negative to group due to it’s negative net dollar exposure. The MACD has just cut downwards, with RSI at 63. Given the cautious market sentiment, we see this an opportunity to trim. (AK)
 
 
Calls for  OCT WEEK 3 WEEK 4 2015
STOCK
Initiation Dates
Initiation price
BUY/SELL
TARGET PRICE
LAST PRICE
% Change since Initiated
CENTURY (7117)
23/10/2015
RM0.845
           Trading BUY
RM1.00
RM0.845
0.0%
ASTRO (6399)
26/10/2015
RM2.88
                   BUY
RM3.20
RM2.90
+0.6%
TMCLIFE (0101)
26/10/2015
RM0.575
         ACCUMULATE
RM0.69
RM0.565
+1.8%
PARAMON (1724)
27/10/2015
RM1.64
         ACCUMULATE
RM2.20
RM1.64
0.0%
CMSB(2852)
27/10/2015
RM5.30
                   BUY
RM06.00
RM5.31
+0.1%
CANONE (5105)
28/10/2015
RM3.06
                  TRIM
RM2.80
RM1.64
0.0%
PADINI (7052)
28/10/2015
RM1.59
                  TRIM
RM1.45
RM5.31
+0.1%
PANTECH (5125)
29/10/2015
RM0.655
                   BUY
RM0.82
RM0.645
-1.5%
TAANN(5012)
29/10/2015
RM3.88
                   BUY
RM4.40
RM3.91
+0.1%

 

 

PERFORMANCE ALERT
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
RM2.21
Take Profit
+27.7%
UMWOG (5243)
28/09/2015
RM1.30
RM1.05
Buy Back
-

 

Performance
Positive
 
Negative
 
Neutral
 

 

 

 

 

 
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