source: [i3investor]RHB/OSK 30 Small Cap JEWELS - Kelvin S Tan 兴业投行： 涨幅更胜综指 优质小型股前景看俏 |
Date: 08/08/2013
from Kelvin S Tan facebook's post:-
RHB/OSK 30 Small Cap JEWELS: This week RHB/OSK launched a book on 30 Small Cap Jewels. My friends email me the list and I build it into my Watchlist. For those of you who do not have the list, here it is. The Note column is the Target Price. Enjoy and Happy Investing.
i3investor public watchlist: Top Malaysia Small Cap Companies 30 Jewels 2013
https://www.facebook.com/photo.php?fbid=560432500680141&set=a.105364959520233.3296.100001401883713&type=1&theater
http://www.nanyang.com/node/554783?tid=462
| Source | : | RHB | ||||||||
| Stock | : | PRTASCO | Price Target | : | 1.60 | | | Price Call | : | BUY | |
| Last Price | : | 1.39 | | | Upside/Downside | : |  +0.21 (15.11%) | ||||
| Source | : | RHB | ||||||||
| Stock | : | BRAHIMS | Price Target | : | 1.41 | | | Price Call | : | BUY | |
| Last Price | : | 1.50 | | | Upside/Downside | : | -0.09 (6.00%) | ||||
| Source | : | RHB | ||||||||
| Stock | : | SCIENTX | Price Target | : | 6.80 | | | Price Call | : | BUY | |
| Last Price | : | 5.67 | | | Upside/Downside | : | +1.13 (19.93%) | ||||
| Source | : | RHB | ||||||||
| Stock | : | PRESBHD | Price Target | : | 2.36 | | | Price Call | : | BUY | |
| Last Price | : | 2.48 | | | Upside/Downside | : | -0.12 (4.84%) | ||||
| Source | : | RHB | ||||||||
| Stock | : | WELLCAL | Price Target | : | 3.08 | | | Price Call | : | BUY | |
| Last Price | : | 3.24 | | | Upside/Downside | : | -0.16 (4.94%) | ||||
| Source | : | RHB | ||||||||
| Stock | : | TAKAFUL | Price Target | : | 11.00 | | | Price Call | : | BUY | |
| Last Price | : | 9.24 | | | Upside/Downside | : | +1.76 (19.05%) | ||||
| Source | : | RHB | ||||||||
| Stock | : | DELEUM | Price Target | : | 4.40 | | | Price Call | : | BUY | |
| Last Price | : | 4.53 | | | Upside/Downside | : | -0.13 (2.87%) | ||||
| Source | : | RHB | ||||||||
| Stock | : | UZMA | Price Target | : | 4.10 | | | Price Call | : | BUY | |
| Last Price | : | 4.77 | | | Upside/Downside | : | -0.67 (14.05%) | ||||
| Source | : | RHB | ||||||||
| Stock | : | CBIP | Price Target | : | 3.50 | | | Price Call | : | BUY | |
| Last Price | : | 3.05 | | | Upside/Downside | : | +0.45 (14.75%) | ||||
| Source | : | RHB | ||||||||
| Stock | : | TDM | Price Target | : | 1.05 | | | Price Call | : | BUY | |
| Last Price | : | 0.95 | | | Upside/Downside | : | +0.10 (10.53%) | ||||
| Source | : | RHB | ||||||||
| Stock | : | HUAYANG | Price Target | : | 3.68 | | | Price Call | : | BUY | |
| Last Price | : | 2.16 | | | Upside/Downside | : | +1.52 (70.37%) | ||||
| Source | : | RHB | ||||||||
| Stock | : | MALTON | Price Target | : | 1.80 | | | Price Call | : | BUY | |
| Last Price | : | 0.895 | | | Upside/Downside | : | +0.905 (101.12%) | ||||
| Source | : | RHB | ||||||||
| Stock | : | INSTACO | Price Target | : | 0.46 | | | Price Call | : | BUY | |
| Last Price | : | 0.295 | | | Upside/Downside | : | +0.165 (55.93%) | ||||
| Source | : | RHB | ||||||||
| Stock | : | INTEGRA | Price Target | : | 2.23 | | | Price Call | : | BUY | |
| Last Price | : | 1.97 | | | Upside/Downside | : | +0.26 (13.20%) | ||||
RHB/OSK 30 Small Cap JEWELS: This week RHB/OSK launched a book on 30 Small Cap Jewels. My friends email me the list and I build it into my Watchlist. For those of you who do not have the list, here it is. The Note column is the Target Price. Enjoy and Happy Investing.
i3investor public watchlist: Top Malaysia Small Cap Companies 30 Jewels 2013
https://www.facebook.com/photo.php?fbid=560432500680141&set=a.105364959520233.3296.100001401883713&type=1&theater
兴业投行： 涨幅更胜综指 优质小型股前景看俏
2013-08-07 08:27
- 陈颍杰（左）与陈森推介《2013年兴业投行股海遗珠－大马30优质小型股》专书。
（吉隆坡6日讯）小型股指数涨幅超越富时隆综指，兴业投资银行看好本地优质小型股前景，尤其是基本面稳健，回酬及派息率稳定的小型股。
兴业投行区域研究主管陈森（译音）今日在《2013年兴业投行股海遗珠－大马30优质小型股》专书推介礼上表示，富时小型股项指数在今年4月24日至7月12日间，涨幅达21.7%，超越同期富时隆综指的12.9%。
“小型股过去一直被市场忽略，一些小型股本益比达11倍，两年复合年增长率（CAGR）为13%，且拥有更佳的流通率，虽然小型股股价波动幅度甚巨，但并不代表所有小型股均属高风险，部分优质小型股基本面稳健，回酬及派息率稳定，同样值得投资。”
兴业研究机构副总监陈颍杰说，投资者应抱持“谨慎乐观”态度扩大投资组合，在股海中慎选高潜力高回酬的小型股。
精选30小型股
《2013年度股海遗珠－大马30优质小型股》专书是兴业投行与侨丰投行合并后的结晶，结合双方资源，精心挑选出30家优质小型股，该行业另有新加坡、泰国及印尼的精选30优质小型股专书。
陈森说，这次的首选5大优质股为帕乐兴（BRAHIMS，9474，主板科技股）、砂查也马特（CMSB，2852，主板工业产品股）、 INSTACO集团（INSTACO，0069，创业板）、恒大置地（TAMBUN，5191，主板产业股），及纬钜集团（WELLCALL，7231， 主板工业产品股）。
“我们从马股市挑选的30只小型股项，87%市值低于15亿令吉，但30只优质股市值总计达271令吉，属健康水平。”
他指出，每年公司都会从市场中挑选新的股项，也逐步扩大涵盖领域，今年增加了11只优质股，涵盖领域也从过去的12个，增至13个。
“除了公司规模，管理层信用、产业基本面、盈利增长前景及过往记录，都是筛选优质小型股项条件之一。”
综指年底上看1850
兴业投行对我国下半年发展抱持“谨慎乐观”态度，认为因惠誉评级调降引起的股市波动为短期影响，来临即将公布的预算案才是影响我国经济的关键。
陈森表示，长远来看，我国内需强劲，加上经济转型执行方案（ETP）的乘数效应都将继续支撑四大领域发展，继续推动富时隆综指走高，看好综指年底可达早前定下的1850点预期目标。
美国退场成关键
他说，市场过于放大惠誉评级调降事件，但却忘了在亚洲经济危机时，惠誉是首个上调我国展望的评级公司，惠誉对我国的展望短期看淡，主要因为整体风险环境改变，但这并不意味着我国基本面受到影响。
“纵观马股市，本地投资者动力仍强劲，加上出口数据及未来多项大计划的宣布，都是带动本地市场的利好因素，相信这些利好足以吸收外在冲击。”
他说，预测联储局的宽松政策将在12月退场，这项决策将影响包括我国在内的亚洲市场，这也是区域股市今年下半年最大隐忧。
询及外资在上周大举撤离马股市时，陈颍杰表示，外资撤离主要因惠誉调降展望所影响，但近期观察，其实也有一些外资趁低吸纳马股，综指短期走滑也许将让马股更具吸引力。
此外，尽管马股市近期受展望调降事件影响，但这些冲击料都是短暂的，兴业投资银行看好油气、建筑、建材及银行领域，在下半年将成为富时隆综指的攀扬动力。
早前受青睐的房地产领域，则因预期利率将上调，第三季评级下调至“中和”；电讯领域则因属性偏向股息回酬类型，短期或将面临下行风险，评级遭下调至“减持”。
投资者走向海外
投资基金逐渐走向海外，在东协市场中找寻优质股，其中以泰国及印尼市场最具活力。
陈森表示，一般上，基金机构会将部分（如10%）资金投入海外市场，在过去，基金机构的海外投资，多倾向于和我国较为接近的市场如美国及新加坡，但近年来投资版图逐渐扩至东协国家。
“其中，泰国及印尼更成受外资青睐，这两个国家股市表现极为强劲，虽然近期表现稍微放缓，但波动甚巨的小型股仍引起购兴。”
他指出，不只私人基金机构，政府基金机构也对东协市场感兴趣，我国已有3大投行前往东协国家设立经纪行，由此可见，东协市场的发展潜力。
《 2013 年兴业投行股海遗珠 － 大马 30 优质小型股》兴业投行区域研究主管陈森（译音）今日在《2013年兴业投行股海遗珠－大马30优质小型股》专书推介礼上表示，富时小型股项指数在今年4月24日至7月12日间，涨幅达21.7%，超越同期富时隆综指的12.9%。
“小型股过去一直被市场忽略，一些小型股本益比达11倍，两年复合年增长率（CAGR）为13%，且拥有更佳的流通率，虽然小型股股价波动幅度甚巨，但并不代表所有小型股均属高风险，部分优质小型股基本面稳健，回酬及派息率稳定，同样值得投资。”
兴业研究机构副总监陈颍杰说，投资者应抱持“谨慎乐观”态度扩大投资组合，在股海中慎选高潜力高回酬的小型股。
精选30小型股
《2013年度股海遗珠－大马30优质小型股》专书是兴业投行与侨丰投行合并后的结晶，结合双方资源，精心挑选出30家优质小型股，该行业另有新加坡、泰国及印尼的精选30优质小型股专书。
陈森说，这次的首选5大优质股为帕乐兴（BRAHIMS，9474，主板科技股）、砂查也马特（CMSB，2852，主板工业产品股）、 INSTACO集团（INSTACO，0069，创业板）、恒大置地（TAMBUN，5191，主板产业股），及纬钜集团（WELLCALL，7231， 主板工业产品股）。
“我们从马股市挑选的30只小型股项，87%市值低于15亿令吉，但30只优质股市值总计达271令吉，属健康水平。”
他指出，每年公司都会从市场中挑选新的股项，也逐步扩大涵盖领域，今年增加了11只优质股，涵盖领域也从过去的12个，增至13个。
“除了公司规模，管理层信用、产业基本面、盈利增长前景及过往记录，都是筛选优质小型股项条件之一。”
综指年底上看1850
兴业投行对我国下半年发展抱持“谨慎乐观”态度，认为因惠誉评级调降引起的股市波动为短期影响，来临即将公布的预算案才是影响我国经济的关键。
陈森表示，长远来看，我国内需强劲，加上经济转型执行方案（ETP）的乘数效应都将继续支撑四大领域发展，继续推动富时隆综指走高，看好综指年底可达早前定下的1850点预期目标。
美国退场成关键
他说，市场过于放大惠誉评级调降事件，但却忘了在亚洲经济危机时，惠誉是首个上调我国展望的评级公司，惠誉对我国的展望短期看淡，主要因为整体风险环境改变，但这并不意味着我国基本面受到影响。
“纵观马股市，本地投资者动力仍强劲，加上出口数据及未来多项大计划的宣布，都是带动本地市场的利好因素，相信这些利好足以吸收外在冲击。”
他说，预测联储局的宽松政策将在12月退场，这项决策将影响包括我国在内的亚洲市场，这也是区域股市今年下半年最大隐忧。
询及外资在上周大举撤离马股市时，陈颍杰表示，外资撤离主要因惠誉调降展望所影响，但近期观察，其实也有一些外资趁低吸纳马股，综指短期走滑也许将让马股更具吸引力。
此外，尽管马股市近期受展望调降事件影响，但这些冲击料都是短暂的，兴业投资银行看好油气、建筑、建材及银行领域，在下半年将成为富时隆综指的攀扬动力。
早前受青睐的房地产领域，则因预期利率将上调，第三季评级下调至“中和”；电讯领域则因属性偏向股息回酬类型，短期或将面临下行风险，评级遭下调至“减持”。
投资者走向海外
投资基金逐渐走向海外，在东协市场中找寻优质股，其中以泰国及印尼市场最具活力。
陈森表示，一般上，基金机构会将部分（如10%）资金投入海外市场，在过去，基金机构的海外投资，多倾向于和我国较为接近的市场如美国及新加坡，但近年来投资版图逐渐扩至东协国家。
“其中，泰国及印尼更成受外资青睐，这两个国家股市表现极为强劲，虽然近期表现稍微放缓，但波动甚巨的小型股仍引起购兴。”
他指出，不只私人基金机构，政府基金机构也对东协市场感兴趣，我国已有3大投行前往东协国家设立经纪行，由此可见，东协市场的发展潜力。
Published: Thursday August 8, 2013 MYT 12:00:00 AM
Updated: Thursday August 8, 2013 MYT 6:53:16 AM
Updated: Thursday August 8, 2013 MYT 6:53:16 AM
Top 30 small-cap companies for 2013
PETALING JAYA: Brahim’s Holdings Bhd, Instacom Group Bhd and Tambun Indah Land Bhd are among RHB Research’s top picks for its Top 30 small-cap companies for 2013.
“Our 2013 edition has ‘unearthed’ 11 new jewels: Brahim’s (consumer), Deleum Bhd (oil and gas or O&G), Hua Yang Bhd (property), Instacom (telecommunications), Integrax Bhd (ports), Malton Bhd (property), Protasco Bhd(construction), Scientex Bhd (consumer), TDM Bhd (plantations), Uzma Bhd (O&G) and WellCall Holdings Bhd(industrials),” it said.
It said that the rest of the companies, while familiar to those who followed its guidance, were still “jewels”, as these companies were still endowed with strong growth potential and solid fundamentals.
“The average financial year 2013 price-to-earnings ratio of our 2013 small-cap stocks is 11.7 times, with a two-year net profit compounded annual growth rate of 13%,” it said.
For top pick Brahim’s, RHB Research believes that the company could be on the road to hit its RM1bil revenue target by 2017, as it rides on the potentially better contribution from airport food and beverage outlets upon the opening of KLIA2, the stronger performance from its inflight catering business due to higher passenger traffic, and accretive mergers and acquisitions in the pipeline.
Instacom has the second-lowest market capitalisation among the Top 30 picks, with the company poised to benefit from the rollout of long-term evolution services, with the operators looking to invest between RM400mil and RM500mil each over the next three years.
Property developer Tambun Indah Land is also on RHB’s radar, with the company’s value underpinned by its strategic anchor land-bank, capable management, quality products, solid balance sheet and attractive dividend yields.
“While liquidity concerns are almost always an issue among the smaller-cap stocks, we are of the belief that as a stock grows in stature in the manner we expect, the issue of illiquidity should fade in due course,” it said.
It said its small-cap selection was influenced by its view on the market, with key overweight sectors being banks, O&G and construction, while telecommunications was an “underweight”.
“As banking stocks are all large corporations, none are represented in the current edition, but we have five representatives from the O&G sector and five from construction,” it said.
It said its 2012 picks had performed decently, with 18 (an average gain of 81%) outperforming the FTSE Bursa Malaysia KL Composite Index (12.9%), while 16 (an average gain of 89%) beat the FBM Small Cap Index (21.7%) between the launch of the 2012 Small Cap Book on April 24, 2012 and the price close for the 2013 book.
The top performer was Perdana Petroleum Bhd, which gained 219.3% during the period, while the worst-performing stock was Adventa Bhd. For Adventa, it sold its glove business for RM320.9mil in January with a capital repayment of RM1.70 per share. It said if the capital distribution was added back, there would be an implied 55% adjusted gain.
http://www.thestar.com.my/Business/Business-News/2013/08/08/Top-30-smallcap-firms-for-2013.aspx
“Our 2013 edition has ‘unearthed’ 11 new jewels: Brahim’s (consumer), Deleum Bhd (oil and gas or O&G), Hua Yang Bhd (property), Instacom (telecommunications), Integrax Bhd (ports), Malton Bhd (property), Protasco Bhd(construction), Scientex Bhd (consumer), TDM Bhd (plantations), Uzma Bhd (O&G) and WellCall Holdings Bhd(industrials),” it said.
It said that the rest of the companies, while familiar to those who followed its guidance, were still “jewels”, as these companies were still endowed with strong growth potential and solid fundamentals.
“The average financial year 2013 price-to-earnings ratio of our 2013 small-cap stocks is 11.7 times, with a two-year net profit compounded annual growth rate of 13%,” it said.
For top pick Brahim’s, RHB Research believes that the company could be on the road to hit its RM1bil revenue target by 2017, as it rides on the potentially better contribution from airport food and beverage outlets upon the opening of KLIA2, the stronger performance from its inflight catering business due to higher passenger traffic, and accretive mergers and acquisitions in the pipeline.
Instacom has the second-lowest market capitalisation among the Top 30 picks, with the company poised to benefit from the rollout of long-term evolution services, with the operators looking to invest between RM400mil and RM500mil each over the next three years.
Property developer Tambun Indah Land is also on RHB’s radar, with the company’s value underpinned by its strategic anchor land-bank, capable management, quality products, solid balance sheet and attractive dividend yields.
“While liquidity concerns are almost always an issue among the smaller-cap stocks, we are of the belief that as a stock grows in stature in the manner we expect, the issue of illiquidity should fade in due course,” it said.
It said its small-cap selection was influenced by its view on the market, with key overweight sectors being banks, O&G and construction, while telecommunications was an “underweight”.
“As banking stocks are all large corporations, none are represented in the current edition, but we have five representatives from the O&G sector and five from construction,” it said.
It said its 2012 picks had performed decently, with 18 (an average gain of 81%) outperforming the FTSE Bursa Malaysia KL Composite Index (12.9%), while 16 (an average gain of 89%) beat the FBM Small Cap Index (21.7%) between the launch of the 2012 Small Cap Book on April 24, 2012 and the price close for the 2013 book.
The top performer was Perdana Petroleum Bhd, which gained 219.3% during the period, while the worst-performing stock was Adventa Bhd. For Adventa, it sold its glove business for RM320.9mil in January with a capital repayment of RM1.70 per share. It said if the capital distribution was added back, there would be an implied 55% adjusted gain.
http://www.thestar.com.my/Business/Business-News/2013/08/08/Top-30-smallcap-firms-for-2013.aspx
