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Technical Focus – 21st Sep 20

Ranked as the fourth largest cocoa grinder in the world with total cocoa processing capacity of 250,000 MT p.a. New cocoa processing plant in Cote D’Ivoire coming on stream in 2H2021 brings additional grinding capacity of 60,000MT p.a. Demand expected to remain resilient premised to the improved retail sales spending as economic across the globe begun gradual re-opening of economic activities in 2Q2020. Maintained a healthy balance sheet with net gearing standing at 0.3x as of 2QFY20 with prospective decent dividends yields FY21f and FY22f at 2.7-4.0%. Technically, a breakout above RM3.33 may drive share price higher towards the next resistances at RM3.53-RM3.67 with long term target at RM3.79.
technical focus
Technical-Focus-21Sep20

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technical focus

Technical Focus – HARBOUR

An integrated logistics services provider, shipping and engages in construction works, heavy lifting and haulage as well as property development with established footprint extends across the Intra-Asia region. Capitalising on the increasing charter and freight rates that was stemmed by the global supply chain disruption following the shortage of vessels, coupled with the improving trade activities. Current price at RM1.01 is trading at a discount to its book value per share of RM1.12 which was recorded in 3QFY21. Technically, traders may anticipate for a short-term breakout above RM1.01, to target next resistances at RM1.06-1.13 with long term target set at RM1.20.

market pulse

Cautious undertone prevails

The FBM KLCI drifted lower earlier Wednesday but rebounded to close flat on lastminute
buying amid cautious market sentiment. Nevertheless, we believe bargain
hunting activities should emerge with the return of foreign participation in our local
stock markets on the back of our reopening of economic activities following
several relaxations of SOPs under our National Recovery Plan; month-to-date
foreigners have registered an inflow of RM904.6m. Commodities wise, the crude
oil price hovered above USD75 per barrel, CPO price surged, while the gold price
retreated.

technical focus

Technical Focus – MMSV

Involved in the design and manufacture of LED and semiconductor industrial automation systems and machinery as well as software development. Tapping onto the recovery in smartphone sales that fell sharply in 2020 as demand will be driven by the evolution into 5G mobile devices, while sales towards the automotive sector will pick up from the low base effect last year. Riding onto the surge in global demand for semiconductor test equipment across other sectors such as automotive, industrial automation and general lighting. Technically, traders may anticipate for a breakout above RM1.10, to target next resistances at RM1.16-1.26 with long term target set at RM1.43.

Kelington Group Bhd – 15Sep21

We gather that this would be KGB’s single largest project win to-date. The move subsequently boosted KGB orderbook replenishment year-to-date to another record high at approximately RM764.0m (inclusive of smaller scale projects). This also exceeded our orderbook replenishment target of RM450.0m for FY21f. We expect the momentum to continue with another RM50-100m worth of projects coming into the picture for KGB to wrap up the record year, premised to the strong global semiconductor sales.

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