Analabs – highly undervalued

An improved revenue plus stable profit has put Analabs highly undervalued. With its business model, dividend policy and its NTA. Analabs should worth a target at least RM 2.500. Lack of institutional holding is the key problem hindering the run.

KLCI sentiment improved to 1680 but we stay calm

Certain selective index linked stocks are moving but overall market volumes and movers are not convincing. We will stay aside or buying in certain our top picks as long as there are seller.

We believe world’s markets inclusive KLCI will range bound. Any upside is slow and not much from the current level.

Sunway traded high of RM 2.99

1 cent shine away from our target and we believe our modeling on undervalue stock has improved. As Sunway already achieved our target price, Allianz is 50 cents from our target. We will put more focus into Layhong, Affin, Alaqar and a new target MNRB.

Range bound everywhere – Stay aside!

I do not see any triggers for KLCI and other worlds’ major markets. There are bad sentiments and so do money getting smaller. Markets will trend down but will easily invite bargain hunter as people is looking for yield.

We recommend a hold to any activities until clear direction or (if) there is bargain in the market. Strategy remained defensively stay invested. We are tempting to sell of POS and switch to others.

Cyprus bank issue – another wave of warning

We don’t see it will be the big problem as the world financial market should pass through soon. But we still maintain defensive investment is because we don’t believe a book that cannot be balanced. That’s the world’s accounting as of today. Increase revenue and hopefully by one day the book is balance.

Both Bingo and Teledata adjusted downward – Still a hold

Bingo eventually exposed its portion of its return of Journey to the West. As of RMB 1 Bil. Ticket sales. Bingo will bag around RMB 70-80 Mils income as according to report. That still exclude income from its cinema chain that will start show result this year. We are disappointed the price has adjusted a lot downward by we still suggest a hold or buy if dip below HKD 0.150 call.

On the other hand, Teledata announced result that should sees them out from it monitor by SGX. However, cash flow is still weak and it has to seek further extension from SGX to be excluded from monitoring. We believe there is potential still a power struggle in the board and share holding. The successful Korean company take over or not will have a strong impact for its share price in coming months.

As such, we recommending hold but nibbling if Bingo below HKD 0.150 and Teledata below SGD 0.013

Ringgit weaken significantly

A potential temp reportfolio by foreign funds. A strategy by BNM to start lower its value to protect manufacturing. (A move I always seen ineffective that caused our business slow to adapt to global environment)

Uncertainty of election and Sulu case? But we feel that a stable currency is very important in 3 to 5 days moving average to avoid speculation gap allow. Ringgit is still not fully define by market force as the values define by a selective basket of currencies by BNM.

We will temp stop purchases of foreign currency especially AUD as from 3.18 to 3.25 vs Ringgit is about 2% variation in a week.

AscendasHT closed at SGD 1.06

AscendasHT continues its price adjustment from its first IPO to date. A good portfolio income together with global low interest environment has given REITs a good run across everywhere. We maintain hold as our target SGD 1.200

Dow continues its record breaking but HSI off its high due to property curb policy

Dow continues its high as mentioned. Our portfolio CITI close to USD 50, AIG also recovered close to USD 40. We continue our Hold call and closely monitor GNC from now. When it first listed at USD near 20 till high of crossing USD 40.

On the other hand, HSI off its high due to new policies by government to curb potential bubble. It is painful but we feel is healthy and necessary.

FBMKLCI will continue to range bound

Overall KLCI will continue to range bound and looking for lead. Sulu intrusion case temp solved but still pending on bigger picture of what next. Election date is definitely looming and we foresee severe competition between both BN and PR may lead to more sensitive information and stories to be uncovered.

However, as global markets rally. The impact spilled over to hold on the sentiment. We continue recommend defensively stay invested particular on asset, commodities and financial related industry.

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