Info Pelaburan Saham - Maybank Investment Bank Ipoh

2022-09-02 03:13:37 Update 02 Sept 2022 - The outlook for KLCI Index from the EW perspective is not really good. If my count is correct KLCI Index is reversing it's direction down for wave (c) of ((b)). Index is entering the ichimoku cloud that could be the warning of further damage ahead. A push below 1,480 may supports the bearish view towards 1,453. However I could be wrong as well here if KLCI index is forming a wave ((b)) triangle where if this is true prices may hold above 1,453. Azizul Hakimin Open / Comment

2022-09-02 03:12:44 Maybank IBG Kopi-O (2 Sep 2022)

Nikkei 27661.5 -1.53%
Kospi 2415.6 -2.28%
SSE 3185.0 -0.54%
HSI 19597.3 -1.79%
TWSE 14801.9 -1.94%
SET 1622.0 -1.04%
JCI 7153.1 -0.36%
STI 3224.1 0.07%
KLCI 1492.0 -1.33%

Maybank IBG Key Calls
Malaysia Banking - Loan growth of 5.9% YoY in July | POSITIVE
Loan growth momentum continues to be fairly robust and banks have generally been more upbeat about their loan growth targets this results season (2Q22). Correspondingly, our industry loan growth estimate for 2022 is raised to 5.2% from 4.9% and we remain POSITIVE on the sector. We have since upgraded CIMB to BUY, adding it to our BUY list which includes AMMB, ABMB, HLBK, RHB and HLFG.

Technicals
The KLCI is poised for another volatile session due to the subdued performance on overnight Wall Street and the selloff in commodity prices. Consequently, O&G and plantation stocks will come under pressure. Generally, sentiment should remain cautious as profit taking may intensify ahead of the weekend break. All eyes will also be looking at key US jobs data. Technically, we expect the benchmark index to range between 1,470pts and 1,510pts today, with supports at 1,450pts and 1,470pts.

Trading Ideas
o Inta Bina (INTA MK, CP: MYR0.215, Not Rated): Its wholly-owned subsidiary Inta Bina S/B was awarded a MYR137.8m contract by SDB Properties S/B to undertake main building works for a property development at Hulu Kelang, Gombak. With the latest project award, it will help to lift its unbilled order book to approximately MYR1.19b, equivalent to approximately 3.5x its FY21 revenue. Stock trades at 7.2x FY23E consensus EPS.

o Enra Group (ENRA MK, CP: MYR0.70, Not Rated): Its wholly-owned subsidiary Enra SPM S/B had received a USD4.4m contract from Gulf Petroleum Myanmar to provide condensate storage, offloading facilities and services for the Yetagun offshore operation in Myanmar. This is ENRA’s first contract win of the year. Note that ENRA is engaged in property development and oil and gas services. Stock trades at a PB of 0.9x (as at Jun 2022). Its net cash stood at approximately MYR10.7m at end-Jun 2022.

For more stock ideas and market flows, access Market Insight on Maybank Trade on Apple Store and Google Play now.

Stay Ahead, Trade Smart. Open / Comment

2022-08-30 04:03:29 Maybank IBG Kopi-O (30 Aug 2022)

Nikkei 27879.0 -2.66%
Kospi 2426.9 -2.18%
SSE 3240.7 0.14%
HSI 20023.2 -0.73%
TWSE 14926.2 -2.31%
SET 1626.5 -1.11%
JCI 7132.0 -0.04%
STI 3222.3 -0.84%
KLCI 1501.6 0.09%

Maybank IBG Key Calls
PropNex Ltd - In pole position (PROP SP, CP: SGD1.61, BUY, TP: SGD1.95)
We initiate coverage on Propnex with a BUY and 12-month TP of SGD1.95, pegged at 14x FY23E P/E (or 1 s.d above its historical mean). The premium valuation to its closest SGX-listed peer, APAC Realty, is justifiable given its increasing market share and leadership position in Singapore, as well as a cash generative business model. Backed by its strong balance sheet, we believe the group can easily sustain its high dividend payout of >70%. This would also translate into an attractive yield of 7%.

Technicals
The KLCI is poised for another volatile session ahead of the National Day holiday. Subdued performance on overnight Wall Street, the wait for key economic data in the US and China, and worries over further interest rate hikes will weigh on sentiment. O&G stocks, however, could benefit from the rally in oil price amid potential supply disruption in Libya. Technically, we expect the benchmark index to range between 1,500pts and 1,530pts today, with supports at 1,470pts and 1,490pts.

Trading Ideas
o Velesto Energy (VEB MK, CP: MYR0.09, BUY, TP: MYR0.20): 1H22 results came in below, a result of weaker JU utilisation in 2Q22, which led to a cut in FY22’s earnings. While this FY’s weakness is well-flagged, focus should be on FY23, for Velesto’s financial/ operational performances are expected to turnaround, underpinned by higher DCR and rising utilisation. Post earnings adjustment, our revised TP reflects a lower 0.9x EV/ replacement value (mean valuation; vs. 1x previously).

o Power Root (PWRT MK, CP: MYR1.88, Not Rated): Reported a PATMI of MYR15.3m in 1QFY3/23 (+660% YoY). Excluding one-off net gain (mainly gain on foreign exchange), its 1QFY3/23 core net profit jumped 641% YoY to MYR14.3m. PWRT also declared a first interim single tier dividend of 2sen per share and a special interim single tier dividend of 1sen per share. In 1QFY3/23, revenue rose 50% YoY mainly attributable to higher revenue from both the local (+41% YoY) and export (+63% YoY) markets. This, together with gain on foreign exchange and favourable sales mix led to a 473% YoY jump in PBT. Stock trades at 21.9x FY23E consensus EPS. It is sitting on a net cash of c.MYR60m at end-Jun 2022.

For more stock ideas and market flows, access Market Insight on Maybank Trade on Apple Store and Google Play now.

Stay Ahead, Trade Smart. Open / Comment

2022-08-29 04:07:27 CGS-CIMB - Trading Stocks today:

1) SDS Group (0212) (RM0.48):
Technical Buy
Targets: RM0.51, RM0.55
Stop: RM0.42

2) Power Root (7237) (RM1.90):
Technical Buy
Targets: RM2.00, RM2.15
Stop: RM1.77 Open / Comment

2022-08-29 04:06:22 UOBKH: US stocks were lower after the close on Friday, as losses in the Technology, Consumer Services and Industrials sectors led shares lower. At the close in NYSE, the DJIA lost 3.03%, while the S&P 500 index lost 3.37%, and the NASDAQ Composite index declined 3.94%.Falling stocks outnumbered advancing ones on the New York Stock Exchange by 2,722 to 393 and 123 ended unchanged; on the Nasdaq Stock Exchange, 3,133 fell and 624 advanced, while 210 ended unchanged. (Source: Investing.Com)

Stocks to watch:

1) SWSCAP (7186); Technical BUY with +38.1% potential return
*Last: RM0.315 Target: RM0.41, RM0.435 Stop: RM0.265
*Timeframe: 2 weeks to 2 months
*Syariah: YES

2) KARYON (0054); Technical BUY on breakout (RM0.195) with 33.3% potential return
*Last: RM0.185 Target: RM0.245, RM0.26 Stop: RM0.155
*Timeframe: 2 weeks to 2 months
*Syariah: YES

3) COASTAL (4723); Technical BUY with +13.7% potential return
*Last: RM1.83 Target: RM1.97, RM2.08 Stop: RM1.64
*Timeframe: 2 weeks to 2 months
*Syariah: NO Open / Comment

2022-08-29 04:05:06 Maybank IBG "Regional Trader's Almanac" 29 Aug 2022
ASEAN Equities: Turning Defensive

The overall trend structure remains weak…

The FTSE ASEAN 40 Index indeed traded lower last week and tested the immediate support in the 9,840 regions. The subsequent rebound appeared to run out of momentum amid weaker price action last Friday. The index also failed to close above the middle Bollinger band in the weekly chart – suggesting the recent recovery was weak.

Given the weaker performance in US equities last Friday, there’s a decent chance for the index to trade lower, seeking to test the next support level sub-9,600 region ahead. As long as the immediate resistance zones between 10,180 and 10,420 are intact, the overall trend structure remains fragile.

This week, we highlight pairs of attractive stocks to buy/accumulate for each of the ASEAN countries.

MALAYSIA – Buy Ramssol Group & SenHeng New Retail
INDONESIA – Buy Bumi Resources Minerals & Surya Esa Perkasa
PHILIPPINES – Buy EEI Corporation & Ayala Land
SINGAPORE – Buy HrnetGroup & Nanofilm Technologies
THAILAND – Buy Synnex (Thailand) & Carabao Group
VIETNAM – Buy Vietnam Prosperity Bank & Nam Leong

For the full report, more stock ideas and market flows access Market Insight on Maybank Trade on Apple Store and Google Play. Open / Comment

2022-08-29 04:04:34 Maybank IBG Kopi-O (29 Aug 2022)

Nikkei 28641.4 0.57%
Kospi 2481.0 0.15%
SSE 3236.2 -0.31%
HSI 20170.0 1.01%
TWSE 15278.4 0.52%
SET 1644.8 0.08%
JCI 7135.2 -0.54%
STI 3249.5 0.05%
KLCI 1500.3 0.32%

Maybank IBG Key Calls
UMW Holdings - 1H22: Above expectation (UMWH MK, CP: MYR3.06, BUY, TP: MYR5.00)
1H22’s core net profit accounted for 59% of our FY estimate, with 2Q22 replicating 1Q22’s performance as it continued to enjoy strong vehicle sales from the SST holidays. With 2H expected to match 1H, underpinned by the strong backlog (60k units), our upgraded FY22 earnings (+21%) reflect higher Toyota sales expectations (+22%). Our TP is unchanged, as we roll over valuations to FY23, pegged to 16x PER (-0.5 SD valuation).

Technicals
The KLCI is set for a cautious start after the selloff on Wall Street last Friday. Hawkish rhetoric from Jerome Powell on further monetary tightening as well as concerns over recession will hurt appetite for risky assets. Locally, sentiment will also stay wary as earnings season is coming to an end this week. Technically, we expect the benchmark index to range between 1,465 and 1,515 today, with supports at 1,465 and 1,432.

Trading Ideas
Padini (PAD MK, CP: MYR3.26, BUY, TP: MYR4.35):
Higher-than-expected sales and better product mix attributed to PAD’s earnings outperformance. We believe that PAD’s mass market appeal and relatively affordable product offering could partially buffer the impact from subdued consumer spending in the near-term. Our FY23 earnings estimates are lifted by 13% but we leave FY24E estimates unchanged and introduce our FY25E forecasts. Maintain BUY with a higher TP of MYR4.35 based on unchanged 20x CY23E PER (about +0.5SD to mean).

SDS (SDS MK, CP: MYR0.48, Not Rated):
Reported a PATMI of MYR4.5m in 1QFY3/23 vs. a loss after tax of MYR0.5m a year ago. SDS was in the red in 1QFY3/22 as its financial performance was affected by a nationwide lockdown which resulted in lower consumers’ traffic and fixed overhead expenses. Notably, the fasting month also fell in 1QFY3/22. SDS’ 1QFY3/23 results benefitted from the reopening of borders between Malaysia and Singapore. Its retail outlets experienced higher influx of customers and same-store sales growth. Stock trades at 11.4x annualized

Scicom (SCIC MK, CP: MYR1.00, Not Rated):
4QFY6/22 net profit jumped 41% YoY, lifting FY6/22 PATMI to MYR31.5m (+22% YoY). Excluding one-offs (mainly impairment loss on receivable in FY6/21), its FY6/22 core net profit rose 9% YoY. SCIC also declared a fourth interim single tier dividend of 2 sen per share. The stronger FY6/22 results stemmed mainly from: 1) a 23% YoY increase in Business Process Outsourcing revenue thanks to higher billings from existing clients and newly secured business; 2) a 5.8x YoY jump in Education revenue arising from the commercialization of its training modules e Learning Management System; and 3) the absence of impairment loss. Stock trades at 10.9x FY6/23E consensus EPS.

For more stock ideas and market flows, access Market Insight on Maybank Trade on Apple Store and Google Play now.

Stay Ahead, Trade Smart. Open / Comment

2022-08-26 03:45:46 UOBKH: US stocks were higher after the close on Thursday, as gains in the Basic Materials, Technology and Financials sectors led shares higher. At the close in NYSE, the Dow Jones Industrial Average added 0.98%, while the S&P 500 index gained 1.41%, and the NASDAQ Composite index gained 1.67%. Rising stocks outnumbered declining ones,on the New York Stock Exchange by 2,440 to 675 and 145 ended unchanged; on the Nasdaq Stock Exchange, 2,535 rose and 1,243 declined, while 232 ended unchanged. (Source: Investing.com)

Stocks to watch:

1) VIS (0120); Technical BUY with +17.4% potential return
*Last: RM0.775 Target: RM0.875, RM0.91 Stop: RM0.68
*Timeframe: 2 weeks to 2 months
*Syariah: YES

2) INNO (6262); Technical BUY with +12.3% potential return
*Last: RM1.54 Target: RM1.64, RM1.73 Stop: RM1.38
*Timeframe: 2 weeks to 2 months
*Syariah: YES

3) HHGROUP (0175); Technical BUY on breakout (RM0.355) with +18.3% potential return
*Last: RM0.34 Target: RM0.395, RM0.42 Stop: RM0.315
*Timeframe: 2 weeks to 2 months
*Syariah: YES Open / Comment