Technical | Fundamental Analysis Discussion Stocks Listed In Bursa

Friday, April 16, 2010

Sime Darby, SP Setia, Tenaga, PUblic Bank,

DJ MARKET TALK:OSK Bullish On Sime Darby Mid-Term Based On Charts

0416 GMT [Dow Jones] STOCK CALL: OSK Research keeps Sime Darby's (4197.KU) mid-term technical outlook at Bullish, but says stock stuck short-term between 100-day moving average, 200-day moving average lines. Is "expected to continue to consolidate within these two lines until either one of these moving average lines are violated." Chartist Shin Kao Jack says a breakout above 100-day MA at MYR8.75 will trigger Buy signal, will rise to test MYR9.00, then MYR9.19. Stock last down 0.5% at MYR8.68. Shin says on downside, immediate support seen at MYR8.50, then 200-day MA at MYR8.45; a break-down below line will trigger Sell signal.

DJ MARKET TALK: SP Setia Sales Expected To Be Robust -HwangDBS

0338 GMT [Dow Jones] HwangDBS Vickers Research says property developer SP Setia (8664.KU) on track to reach its MYR2 billion sales target, after it achieved MYR935 million in sales in first 5 months of FY10. Adds, company may get a rush of buyers before a special financing package expires end-April; "We expect sales to remain robust driven by improving economic outlook and inflation hedging," HwangDBS says; adds, average selling prices for properties have been increasing steadily. Maintains Buy on stock, with unchanged target price of MYR4.80. SP Setia down 0.2% at MYR4.19.

DJ MARKET TALK: HwangDBS Keeps Fully Valued On Petronas Dagangan

0221 GMT [Dow Jones] STOCK CALL: HwangDBS Vickers Research keeps Petronas Dagangan (5681.KU) at Fully Valued, with unchanged target price of MYR8.10; petrol retailer on track to meet house FY10 earnings forecast of MYR778 million, with 9-month sales of 9.7 billion liters at 74% of full year forecast of 13.1 billion liters; unexciting earnings growth of 3.1% forecast for FY11, 2.4% for FY12. "Petronas Dagangan's valuation remains rich, trading at 1-year forward PE of 11.2x vs its 3-year historical forward PE average of 10.5x." But adds 4% net dividend yield to lend downside support to stock. Last unchanged at MYR9.10.

DJ MARKET TALK: Tenaga May Rise; CEO's Service Tenure Extended

0004 GMT [Dow Jones] Tenaga Nasional (5347.KU) may rise after power utility says in exchange filing President, CEO Che Khalib Mohamad Noh's service tenure has been extended. Dealer tips share may rise to MYR8.50 (yesterday's intraday high) vs yesterday's close at MYR8.47 (+0.6%). Tenaga says Che Khalib's term will be extended for an additional year effective July 1 until June 30, 2011. Dealer says stock market will react positively to news; "Che Khalib is highly regarded as Tenaga's CEO so investors will be glad he'll be at the helm for another year," dealer says.

DJ MARKET TALK: OSK Keeps Public Bank At Buy; MYR13.0 Target

0138 GMT [Dow Jones] OSK Research keeps Public Bank (1295.KU) at Buy, with unchanged target price of MYR13.00. 1Q FY10 net profit growth of 16.3% on-year within expectations, says analyst Keith Wee; adds, performance in coming quarters expected to be better as 1Q traditionally slower period, full impact of recent interest rate hike will be felt, stronger growth in loans to small businesses in line with economic recovery. 1Q annualised domestic loans growth surprisingly strong at 17.6%. "The strong growth achieved in the seasonally slower 1Q period indicates that there is upside bias for its full year growth," Wee says. Public Bank +0.3% at MYR12.08. (

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