SKP RESOURCES BHD
Indicator has issued a BUY Signal, while the RSI has risen above 50. Price may advance, targeting the
RM1.63- - RM1.75 levels. Support will be pegged around the RM1.34 level
source: Malacca Securities Research – 11/07/2018
Showing posts with label Board: Main. Show all posts
Showing posts with label Board: Main. Show all posts
Jul 11, 2018
Technical - SKPRES (7155)
Apr 18, 2018
Technical Buy - KOBAY
Trading Idea - KOBAY TECHNOLOGY BHD (stock code 6971)
● Target Price RM1.30
● Last closing price RM1.12
● Potential return 16.0%
● Support RM1.05
● Stop Loss RM0.950
Possible upside. KOBAY is showing signs of recovery from recent major pullback. Improving RSI and MACD indicators currently signal reasonable entry level, with anticipation of continuous improvement in both momentum and trend in near term. Should resistance level of RM1.13 be genuinely broken, it may continue to lift price higher to subsequent resistance level of RM1.30. However, failure to hold on to support level of RM1.05 may indicate weakness in the share price and hence, a cut-loss signal.
source: PublicInvest Research - 18/04/2018
Jan 25, 2018
Technical Highlights - ORNA
ORNA - Stock Code: 5065
• ORNA climbed 5.0 sen (3.62%) yesterday to hit RM 1.43.
• Share appears to have broken out from a 2-month consolidation after few failed attempts to break past the RM1.40 resistance level.
• Overall technical outlook is turning positive with the 20-day SMA had just crossed above the 50-day SMA and the MACD line being above the Signal Line
• Continuous positive momentum will push the share price towards the RM1.50 (R1) and RM1.65 (R2) resistance levels.
• Conversely, near term dips may be viewed as a buying opportunity with support levels at RM1.40 (S1) and RM1.33 (S2).
Ornapaper Bhd Daily Chart:
source: Kenanga Research 25/01/2018
ORNAPAPER BERHAD
The Company is an investment holding company which is involved in the manufacturing and trading of corrugated boards and carton boxes activities
Dec 29, 2017
SALUTE – Technical
SALUTICA BERHAD Stock Code: 0183
Above: Salute daily chart (click to enlarge view)
SALUTE has experienced a flag- - formation breakout above the RM1.35 level with improved volumes. The MACD Histogram has extended another green bar, while the RSI remains above 50. Price may rally, targeting the RM1.42- - RM1.50 levels. Support will be set around the RM1.30 level.
source: Malacca Securities Research – 29/12/2017
Apr 11, 2017
Accumulate SEAL (Technical Analysis)
SEAL INCORPORATED BHD Stock Code: 4286
Despite recent consolidation, SEAL has been able to hold on above its critical supports of 60-day & 200-day EMA lines as well as the “Ichimoku Cloud”. Banking on improving momentum,
we expect SEAL to form another up-leg in the near-term. Upper resistance is pegged at MYR0.54 and MYR0.635.
source: Maybank IB Research – 10/04/2017
SEAL INCORPORATED BERHAD
The principal activities of the Company are property investment and contractor of buildings and project manager for property development. The principal activities of the subsidiaries are the extraction of timber trading of log and sawmilling and letting of properties.
Nov 28, 2016
FBM KLCI Constituents Review: SapuraKencana OUT, IJM IN?
SAKP to be replaced by IJM?
SAKP may be replaced by IJM Corp in the upcoming FBM KLCI constituents review for December. This would result in slight declines in the individual weights of the other existing FBM KLCI constituent stocks. Then again, this is quite a similar situation as per the last FBM KLCI constituents review in June but SAKP stayed as a constituent stock then. There is no change to our stock calls - SAKP remains a BUY, IJM a HOLD.
Based on 21 Nov’s close
The FTSE Bursa Malaysia KLCI (FBM KLCI) constituents are due for a review, using share prices as at market close last Monday (21 Nov), as per our interpretation from the FTSE Bursa Malaysia Index Series, Ground Rules (updated Aug 2016). The constituent changes will be implemented after the market closes on the third Friday in December, namely 16 Dec,
and would be effective Monday, 19 Dec.
Based on our estimates
Using share prices as at 21 Nov’s market close, SAKP, which ranked 38th in market capitalisation, could exit as a constituent stock. IJM Corp, which ranked 31st by market capitalisation, could feature. Nestle, which ranked 23rd may not qualify as it may not meet the liquidity test. This is quite a similar situation as per the last FBM KLCI constituents review in June (see our note on 11 May 2016). Back then, SAKP has remained a FBM KLCI constituent stock post the June review.
FBM KLCI constituent weights, based on 24 Nov 2016’s closing share prices (ranked by existing weightage):
Impact on weightings
As IJM Corp’s market value post adjusting for its investability weight is higher than SAKP, the other existing 29 constituent stocks will see small declines in their individual weights on the FBM KLCI. We estimate IJM Corp’s weight on the FBM KLCI to be 2.13% versus SAKP’s 1.32% presently.
source: Maybank Investment Bank Research – 25/11/16
Nov 16, 2016
AWC – Technical Outlook
AWC Berhad - Stock Code: 7579
AWC Daily Chart:
source: Kenanga Research – 16/11/16
AWC BERHAD
The Company principal activity is investment holding company. The subsidiaries of the Company are involve in facilities management service mechanical and electrical engineering air-conditioning and building automation and landscaping.
Oct 12, 2016
Technical Buy - CAB
CAB CAKARAN Stock Code: 7174
- Target Price RM1.75, RM1.80
- Last closing price RM1.64
- Potential return 9.8%
- Support RM1.57
- Stop Loss RM1.56
Gap-up. CAB shares opened with a gap-up yesterday indicating strong buying interest, which further pushed the share price higher throughout the day. Traded volume was substantial at 0.4m shares compared to previous 14-day average of 0.1m shares. Positive buying momentum was further signified by bullish RSI indicator and MACD golden crossover, which may suggests price appreciation ahead. Should resistance level of RM1.70 be broken, CAB shares may be lifted further to the next resistance level of RM1.75, followed by RM1.80.
However, failure to hold at support level of RM1.57 may indicate weakness in the share price and hence trigger a cut-loss signal.
source: Public Invest – 12/10/2016
CAB CAKARAN CORPORATION BERHAD
The Group is an integrated poultry group with its principally activities in breeding of parent stock hatching of eggs into DOCs breeding of broilers slaughtering and processing of fresh chicken and other value-added food products right down to retailing and the operations and management of a fast food chain and franchising of fast food business.
Oct 11, 2016
KAREX - Opportunity knocks
Stock Code 5247
● The CS Condom Market Report cited Reckitt and Church & Dwight as the most obvious suitors for Ansell's potential sale of its condom business. However, a big obstacle would be the anti-trust law that they would breach in virtually every market.
● The deal is estimated to fetch up to US$1 bn. Nonetheless, we believe the potential redflag regarding anti-trust law is quite widely known among industry players which suggests that the sale could attract other smaller players who might participate at lower bids.
● While Karex was not cited as a potential suitor, management has made little secret of its ambitions to transform into a major branded player over time and arguably has some experience in brand consolidation. The key question is whether major shareholder Goh family is willing to dilute its stake. Assuming a 50:50 combination of debt:equity to fund the deal, we estimate that it should have a mild 1.4% boost to EPS.
● Maintain OUTPERFORM rating with a target price of RM3.00 (22% potential upside).
Opportunity knocks
The Credit Suisse Global Condom Market report examined the potential consolidation of the industry as Ansell (an estimated 14% global share) is mulling the potential sale of its condom business.
Reckitt (30%) and Church & Dwight (10%) were cited as the most obvious suitors given their market positions and plans to expand, but a big obstacle would be the anti-trust law that it would breach in
virtually every market. Another major player, Okamoto (8%), appears to be pursuing an organic expansion strategy.
Too big to handle?
Based on past transactions, the team estimates that the sale could fetch up to US$1 bn. Thus on the surface, it appears that only the big players such as Reckitt and Church & Dwight would be able to absorb the deal size comfortably. Nevertheless, we believe the potential redflag regarding anti-trust law is quite widely known among industry players. What this suggests to us is that the sale could attract othersmaller players who might participate at lower bids.
It's now or never!
While this would be too big an acquisition for a company the size of Karex, it has made little secret of its ambitions to transform into a major branded player and compete in the same league as the bigplayers. The key question is whether the Goh family (majorshareholder at 32%) is willing to dilute its stake (an all-debt deal doesnot seem plausible) or fork out more capital to seize this rare opportunity. If successfully executed, potential synergies shouldprovide a boost to margins over time.
Maintain OUTPERFORM
Dominant production market share, fairly resilient demand and goodmanagement are reasons we like the stock. Near-term P/E multipleslook rich but we argue that it has yet to capture the full earnings potential from the integration of its newly acquired brands. We have a RM3.00 target price.
source: Credit Sussie – 10/10/2016
KAREX BERHAD
The Group is principally involved in the manufacturing and sale of condoms sterile catheters latex probe covers latex sleeves and rubber product. It is the world's largest original equipment manufacturer (OEM) condom maker in terms of capacity with an annual capacity of 3 billion pieces.
Oct 5, 2016
Puncak Niaga: Upside Potential Of Around 106.1%
PUNCAK Stock Code: 6807
Puncak Niaga Holdings Berhad is an investment holding. The Company, through its subsidiaries, operates, maintains, manages, constructs, and undertakes the rehabilitation and refurbishment of water treatment facilities. Puncak Niaga also operates, manages, maintains, and monitors the operation of dams.
Our medium (6-12 months) term target price for PUNCAK is RM2.37 hence offers an upside potential of around 106.1% from current level.
source: Affin Hw5ang Investment Bank Bhd - 5/10/2016
PUNCAK NIAGA HOLDINGS BERHAD
The Company is an investment holding company whilst its subsidiaries are principally involved in the operation maintenance management construction rehabilitation and refurbishment of water treatment facilities the supply and distribution of treated water undertaking offshore installation contract work specifically in the area of integrated transportation and installation of offshore facilities as well as undertaking research and development and technology development for the water wastewater and environment sectors.
Sep 28, 2016
JAYA TIASA: Triangle Pattern Breakout
Stock Code: 4383
Jaya Tiasa may resume its uptrend after climbing above the “Triangle” pattern. A bullish bias may be present above the MYR1.26 level with a target price of MYR1.40, followed by MYR1.47. The stock may turn sideways if it cannot sustain above the MYR1.26 mark in the near term. Support may be found at MYR1.20, where traders can exit upon a breach to avoid the risk of a further correction.
source: RHB Research 27/09/2016
JAYA TIASA HOLDINGS BERHAD
The Company is a fully-integrated timber producer in Malaysia with access to 1.76 million acres of timber concessions in the state of Sarawak Malaysia.The principal activities of the Company are investment holding provision of management services extraction and sale of logs manufacturing and sale of timber products reforestation and oil palm plantation.
Sep 27, 2016
Ekovest : Upside Potential +56.3%
EKOVEST Share Price RM1.92 Target Price RM3.00 Upside +56.3%
Ekovest is a deeply undervalued contractor and concessionaire. Its recent 40% sale of DUKE 1 & 2 to EPF implicitly values just one of its many assets at RM2.8b, below its RM1.7b market cap. It also recently obtained a 53.5-year concession to build and operate a new 50km urban expressway, which will support its construction arm’s profit growth. Initiate coverage with BUY and SOTP target price of RM3.00, implying 18.2x FY18F PE, supported by a 3-year earnings CAGR of 69%.
INVESTMENT HIGHLIGHTS
• Value unlocking of a vital urban traffic dispersal system. Ekovest recently announced it has entered into a binding term sheet that would see it selling a 40% equity stake in Konsortium Lebuhraya Utara-Timur (KL), the holding company of the Duta-Ulu Kelang Expressway (DUKE) 1 and 2, to the Employees Provident Fund (EPF) for RM1.13b. This sum implicitly values the expressways at RM2.82b vs Ekovest’s market cap of RM1.69b. While the group has made no official commitments, we do not discount the possibility that part of the cash proceeds would be declared as special dividends in the near term.
• DUKE 3 – the next big boost. Ekovest’s longer-term outlook was given a boost with the recent announcement that it has been granted a 53.5-year concession to build, operate and transfer the new 50km Setiawangsa-Pantai Expressway (SPE) (formerly known as DUKE Phase 3) that links MRR2 at Taman Melati to Kerinchi Link at Federal Highway. Alongside the benefit of obtaining a concession, the new expressway would enhance its medium-term orderbook visibility as the group would snap up much of the construction jobs worth over RM3.7b. We expect the construction jobs to contribute RM139m-212m p.a. to Ekovest’s financials for the next three years.
COMPANY DESCRIPTION
A construction company which owns the highly coveted Duta-Ulu Kelang Expressways. It also
has exposure in construction and property development.
source: UOBKayhian – 23/09/2016
Sep 22, 2016
AirAsia – Target Price RM3.80
Crystallisation of value
● The sale of leasing arm AAC is looking more likely. Details over recent weeks suggest scope for the value in AIRA's planes to be crystallised at a level higher than we previously expected, substantial deleveraging, and a large special dividend.
● Assuming the sale of AAC completes by end-2016, we estimate AIRA's net D/E would drop to -0.44x from 1.64x. Current net debt of RM9.2 bn could turn to RM3.8 bn of net cash. On a proforma basis, excluding AAC our earnings estimates would be ~34-43% lower.
● Post AAC-sale and placement, AIRA could have ~RM3.1 bn of excess cash (39% of market cap) to fund a special dividend. Whilst MH pricing pressure has picked up, we think there is still
potential for some upside surprise in 2H16 earnings.
● We change our valuation methodology to incorporate the AAC divestment, though our forecasts still do not assume the same due to timing uncertainty. Our target price increases to RM3.80 (from RM3); rating raised to OUTPERFORM from Neutral.
Upgrade to OUTPERFORM, TP raised to RM3.80
The sale of leasing arm AAC is looking more likely. Along with additional details given in the 2Q16 results, there is now scope for the value embedded in AIRA's owned planes to be crystallised at a level ~13% higher than we previously expected, substantial deleveraging, and a large special dividend. We also raise our 2017 EPS forecast by 16% after correcting our fuel hedging assumptions.
Cash-rich, low leverage, up-cycle
Assuming the sale of AAC and the ongoing placement to founders are completed by end-2016, we estimate AIRA's net D/E would drop to -0.44x from 1.64x (current net debt of RM9.2 bn could turn into RM3.8bn of net cash). On a proforma basis, excluding AAC our earnings estimates would be ~34-43% lower. Cyclical upturns don’t last forever, e core airline business could see tailwinds from low oil and relatively benign competition for a few more quarters.
Strong 2H16, special dividends
Whilst Malaysia Airlines' pricing pressure has picked up, AIRA's forward bookings are pointing to record load factor in 2H16; we think there is potential for some upside surprise (our 2016E forecast is 15% higher than consensus). Post AAC-sale and placement, AIRA could have ~RM3.1 bn of excess cash (39% of market cap) to fund a special dividend, in our view; coincidentally, such a dividend would mean the founders would have raised their stake to 32% from 19% for free.
RM3.80 TP assumes AAC sale
We change our methodology to incorporate the AAC divestment; our SOTP comprises the potential excess cash post AAC-sale, the remaining pure airline business, and AIRA's stakes in listed associates (zero worth for IAA and PAA). The potential valuation for AAC also implies an RNAV of ~RM3.55/share. Due to timing uncertainties, financial estimates in the databox do not yet assume the AAC divestment; we include some proforma estimates in the note.
by Credit Susse – 21/09/2016
Sep 21, 2016
Poh Huat: Target Price RM2.05 (+32.3%)
Expansion Down Under. Poh Huat Resources Holdings Bhd Stock Code: 7088
TP: RM2.05(+32.3%) Last traded: RM1.55
Expanding into Australia The company is acquiring a detached warehouse cum office-showroom in South Dandenong, Victoria, Australia, from JSNJ Investment Pty Ltd, for a total consideration of AUD4.25mn (RM13.27mn). The proposed acquisition will be funded by internally generated funds. This is backed by POHUAT’s net cash position of RM25.8mn as of end April 2016.
The property comprises a 2,807sqm single storey warehouse with a 315sqm office with retail/showroom facilities. It is situated on a 5,265sqm parcel of commercial land, secured by parameter fencing and automated gate entrance and has 47 car parks within its compound.
Dandenong is a suburb of Melbourne, approximately 30km South-East from Melbourne’s central business district. It is located within an industrial estate designated to host a cluster of “new economy” industry, including manufacturing, wholesaling, logistics and transport and storage business.
The rationale of the acquisition is to expand into new target market from its existing operational bases in Malaysia, Vietnam and South Africa.
The proposed acquisition is expected to complete by December 2016.
Our View We understand that for a start, the group intends to market its panel-based office furniture and bedroom sets under its own brand. While it may take some time to establish its brand and gain wide market acceptance, we are positive on the move as the new target market is expected to provide a growth potential to the group, and may in long term, reduce the over-reliance on the North America market.
Even though the population of Australia (estimated at 24mn as of 2015) is significantly smaller than its traditional main market in the US (estimated population of 320mn as of 2015), the Australia market is relatively untapped compared with the much more matured furniture business in the US. Furthermore, the product design adopted for the Western market in US market is commonly accepted by the Australians.
Forecast We leave our earnings forecasts unchanged for now. We do not expect the expansion to make immediate earnings contribution to the group in FY17 and FY18 as we think it may require time to establish the brand and gain market share.
Valuation No change to our target price of RM2.05, based on unchanged 10x CY17 EPS. Reiterate BUY call on POHUAT.
source: TA Secruties – 20/09/2016
POH HUAT RESOURCES HOLDINGS BHD
The principal activities of the Company are investment holdings and provision of management services. The principal activities of its subsidiary companies are manufacturing and trading of furniture and furniture parts.
Aug 11, 2016
Sarawak Cable: Pending a bullish wedge pattern
SCABLE Stock Code 5170
- Values emerge after selldown. In the wake of fizzling thematic play on Sarawak state election (7 May) and a disappointing 1Q16 results (26 May), SCABLE’s share price tumbled 15.9% from 3M high of RM1.51 to a low of RM1.27 on 24 June before closing at RM1.30 yesterday. Whilst 1Q16 results was a disappointment, HLIB retains a BUY rating (pending the release of 2Q16 results on 26 Aug) with a SOP TP of RM1.92, in anticipation of a pickup in earnings over the coming quarters.
- We opine that current share price 30.5% correction from 52-week high of RM1.87 offers opportunity for LT investors to accumulate SCABLE, given its undemanding valuation of 9x FY17 P/E (against HLIB’s average 12x construction’s P/E) and 1.25x P/B (10-year average 1.7x), supported by a steady 2015-18 earnings CAGR of 11% and decent FY17 yield of 3.3%.
- Pending a bullish wedge pattern. In the next 2-4 weeks, SCABLE is likely forming a bullish wedge pattern, breaking the wedge resistance (near RM1.36) and advance further towards RM1.42 (200-d SMA) and LT objective at RM1.50 (50% FR). However, in the short term, SCABLE may undergo a brief sideways consolidation with key supports at RM1.27 and RM1.23 (weekly lower Bollinger band), as share prices closed below key 10-d/20-d/30-d/50-d SMA supports yesterday. Cut loss at RM1.22.
Source: Kenanga Reserach 11/08/2016
SARAWAK CABLE BERHAD
The Grouop is mainly involved in the manufacture and sale of power cables and wires in Sarawak East Malaysia.
Aug 9, 2016
Jaya Tiasa - Target Price RM1.28, 1.35
Stock Code: 4383
- Last closing price RM1.20
- Potential return 12.5%
- Support RM1.14
- Stop Loss RM1.13
Buying interest. There were breakouts from 8-months downtrend line and RM1.18 resistance level on high volume yesterday. We observed increasing buying interests which pushed the price up for the past two days. Average traded volume for the past two days was substantial at 3.8m shares compared to previous 14-day average of 0.7m. Positive buying momentum was further signified by bullish MACD and RSI indicators, which may continue to lift Jaya Tiasa shares higher to next resistance level of RM1.28, followed by RM1.35.
However, failure to hold at support level of RM1.14 may indicate weakness in the share price and hence trigger a cut-loss signal.
source: PublicInvest Research – 9/8/2016
JAYA TIASA HOLDINGS BERHAD The Company is a fully-integrated timber producer in Malaysia with access to 1.76 million acres of timber concessions in the state of Sarawak Malaysia.The principal activities of the Company are investment holding provision of management services extraction and sale of logs manufacturing and sale of timber products reforestation and oil palm plantation.
Jul 18, 2016
MFLOUR Technical Analysis
Malaysian Flour Analysis Stock Code: 3662
MFLOUR has experienced a breakout above the RM1.32 level with high volumes. The
MACD Indicator has expanded positively above zero, while the RSI is overbought. Price may rally towards the RM1.42 and RM1.55 levels after a short consolidation. Support will be pegged around the RM1.28 level
MACD Indicator has expanded positively above zero, while the RSI is overbought. Price may rally towards the RM1.42 and RM1.55 levels after a short consolidation. Support will be pegged around the RM1.28 level
.
source: Malacca Securities Research 18/07/16
MALAYAN FLOUR MILLS BHD
The principal activities of the Company are to carry on the business of milling and selling wheat flour and its related products. The principal activities of the subsidiaries are transport management; processing and sale of poultry; breeding and sale of day-old chicks; manufacture and sale of animal feeds and related raw materials; purchase and contract farming of poultry for resale; and milling and selling wheat flour together with its allied products.
The principal activities of the Company are to carry on the business of milling and selling wheat flour and its related products. The principal activities of the subsidiaries are transport management; processing and sale of poultry; breeding and sale of day-old chicks; manufacture and sale of animal feeds and related raw materials; purchase and contract farming of poultry for resale; and milling and selling wheat flour together with its allied products.
Jul 11, 2016
PENTA – Technical ‘Pennant’ Breakout
PENTAMASTER CORPORATION BHD Stock Code: 7160
PENTA experienced a pennant breakout above the RM0.80 level with high volumes. The MACD Histogram has turned green, while the RSI is above 50. Price may pick up in buying momentum towards the RM0.855-RM0.91 levels. Support will be anchored around the RM0.77 level.
source: Malacca Securities Sdn Bhd
PENTAMASTER CORPORATION BERHAD
The Company is principally engaged in the design and manufacture of automated and semi-automated machines and equipment; design manufacture assembly and installation of computerised automation systems and equipment together with proprietary software systems
Jun 15, 2016
COMCORP – Quick Chart Analysis
COMINTEL CORPORATION BHD Stock Code: 7195
COMCORP has rebounded off the EMA9 level with improved volumes. The MACD Indicator has expanded positively above zero. The RSI, however, is slightly overbought. Price target will be envisaged around the RM0.91 and RM1.00 levels. Support will be located around the RM0.76 level.
source: Malacca Scurities – 15/06/2016
COMINTEL CORPORATION BHD
The principal activity of the Company is that of investment holding while the principal activities of its subsidiaries are Turnkey engineering design and integration programme management installation and commissioning; manufacturer and assembler of electronic components.
The principal activity of the Company is that of investment holding while the principal activities of its subsidiaries are Turnkey engineering design and integration programme management installation and commissioning; manufacturer and assembler of electronic components.
Jun 9, 2016
PMETAL – Technical Breakout
PRESS METAL BHD Stock Code: 8869 The Group is also involved in property development waste management and environmental engineering projects.
PMETAL (Trading Buy, TP: RM3.49, SL: RM2.97). PMETAL has been undergoing a consolidation phase after reaching a high level of RM3.20 back in early-May. Yesterday, the share price surged 14.0 sen (4.68%) to stage a breakout away from its downtrend resistance line to close at RM3.13 on strong trading volume. MACD histogram showed signs of resurgence just above its zero-line, while strong uptick in RSI and Stochastic are indicating that buying momentum is piling up. With the positive technical outlook, we reckon it could look to retest its immediate resistance of RM3.20 (R1) before attempting RM3.52 (R2) next in the near-mid-term. We advocate interested investors to place a protective stop-loss 3 bids below its immediate support level of RM3.00 (S1) at RM2.97 with a target objective of RM3.49 (3 bids below the R2 level). Meanwhile, the next level of support is located at RM2.83 (S2).
source: Kenanga Research – 9/6/2016
