Company Name: MAH SING GROUP BHD
| Research House: HLG | Price Call: BUY | Target Price: 2.37 |
Property (Overweight)
An exciting year ahead
'''' In our view, the property sector is now at a crossroads, with dichotomy emerging between the stagnating mid/high end segment vs. the vibrant and emerging affordable segment.
'''' We remain positive on long term outlook for property prices, but see little upside in prices for the mid/high end segment.'' Instead, buyers and developers will start gravitating towards the affordable segment.
'''' For 2012, we expect the property sector to be driven by three main catalysts: (1) Affordable housing, (2) M&A excitement, and (3) Iskandar Malaysia.
'''' Our top pick remains Mah Sing (BUY, TP RM2.37) for a combination of good liquidity, decent market cap (RM1.6bn) and attractive valuations (8.1x FY12E P/E and 25% upside).
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KLCI: Sideways consolidation ahead of the CNY holidays
'''' Despite short term consolidation due to CNY holidays, as long as KLCI continues to remain its posture above the 200-d SMA and mid Bollinger band supports (now at 1501), KLCI is still likely to slowly filling the huge gap between 1529-1546 which was recorded on 5 Aug 11.
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DIGISTA: Short term positive after recent breakout
'''' After breaking out from the long term downtrend channel last Friday, DIGISTA is ripe for a stronger rebound towards the RM0.50 psychological level soon, supported by bullish technical indicators. Once this level is taken out, the next resistance targets are RM0.535 (52-wk high), RM0.57 (123.6% FR) and RM0.60 (138.2% FR).
'''' As long as prices stay above the RM0.43 level (100-d & 200-d SMAs and lower Bollinger band supports), the bullish undertone should continue. Cut loss below RM0.41 (23.8% FR).
This is a really good blog for TP, thanks!! --Tommy
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