Chart 1: CPO's daily chart as at Oct 11, 2010_3.00pm (Source: ifs.marketcenter.com)
The bullish breakout in CPO could lead to an upside breakout for the Plantation index, which is presently being blocked at the psychological 7000 level. In the afternoon session, the Plantation index is trading above the 7000 level.
Chart 2: Plantation's daily chart as at Oct 8, 2010 (Source: Tradesignum)
My preferred plantation stocks are IJMPlant and IOI. Even Sime may feature in the bullish plantation theme play.
9 comments:
Hi Alex
What is your opinion on the upcoming IPO, MMHE? Cheers.
any news to Muhibah?
Hi Cheer,
Muhibah has just broken above its triangle at RM0.95 as well as the psychological RM1.00 level. Its next resistance levels are RM1.15 & RM1.20.
Hi JY,
MMHE's IPO is pricey. Its issued shares would be 1.6 billion. Its net profit attributable to shareholders would be about RM280 million (based on the numbers for FYMar2009 & FYMar2010 of RM279 million & RM278 million, respectively. As such, its EPS is about 17.4 sen. At the IPO price of RM3.61, its PE would be 20.7 times.
However, MMHE may benefit from the many O&G projects that may be implemented next year. This development would be very positive since many of these projects involved Petronas, which owns MISC, the parent of MMHE. One can expect MMHE would have a slight advantage in procuring such projetcs.
Hi Alex,
Can you tell us about REIT? Is it generally good yield can be expected ?
AMFIRST, ALAQAR, QCAPITA work well before and would continue so?
Thanks for your advice
AL
Hi Ai Ling
I am not comfortable commenting on REITs. I feel that the booking of capital appreciation in the P&L account to be very confusing.
Nevertheless, you can rely on the publicly available information for your purpose. I don't see how I can improve upon unless I compile the data on my own. That would be too much work for me.
Hi Alex
Any comments on YEELEE or having ideas about when to enter???
Share price just drop to new low recently after the bonus issue and share split.
Thanks
Hi Jimmy Yeoh
YEELEE should find support at RM0.90-0.95 level. Its 1H2010 EPS is about 11.4 sen. At RM0.98 now, YeeLee is trading at a PE of 8.6 times. That's quite reasonable for a consumer stock.
The excitement in YeeLee lies with its 32%-owned associate, Spritzer which is expected to report better results for the next few quarters as its Shah Alam plant run into full swing. YeeLee has raised its stake in Spritzer steadily over the past few months and I believe it may go for a GO soon ( here ). Both YeeLee & Spritzer are a good BUY at the current level, but Spritzer may be more interesting.
Hi Alex,
May I know how to trade the CPO, do we need to open another account for CPO or we can be traded at any share trading house ?
Is there any expiration , is yes, what is the longest trading period ? What is the charges per lot ? Is there any different for trading duration ?
Many thanks . Looking forward to hearing from you.
Post a Comment