Malaysia Retail Research Analysis
Malaysia Retail Research Analysis
CGS International | November 1, 2024
Key Economic and Market Insights
Stocks rebounded late in the week as traders looked past economic uncertainties and focused on corporate strength. The S&P 500 ended a two-day rout, led by gains in tech megacaps such as Amazon and Intel. US hiring data showed the slowest pace since 2020, distorted by hurricanes and strikes. The Federal Reserve meeting and the US presidential election are critical upcoming events. The S&P 500’s 20% rally in 2024 through October is the strongest in a presidential election year since 1936.
Malaysia Market Overview
The FBMKLCI Index saw a minor recovery, ending at 1,603.98, despite a week-on-week drop. The plantation sector led gains, while construction and technology lagged. Trading volume and value decreased, and market breadth stayed negative for the sixth consecutive session.
Actively Managed Portfolio
This portfolio, based on technical analysis, focuses on trend-following strategies and occasionally includes reversal plays. The goal is to let profits run and cut losses short. The portfolio, starting with RM1,000,000, is updated annually.
Portfolio Monitor
| Stock |
Weighting |
Shares |
Entry Price (RM) |
Current Price (RM) |
Total Cost (RM) |
Market Value (RM) |
Stop Loss (RM) |
Target Price (RM) |
Position |
Dividend (RM) |
Profit/Loss (RM) |
Profit/Loss (%) |
| Three-A Resources |
7% |
107,500 |
0.930 |
0.860 |
99,975.00 |
92,450.00 |
0.850 |
0.975/1.00/1.13 |
BUY |
2,150.00 |
(7,525.00) |
-7.5% |
| Gamuda |
8% |
12,200 |
8.150 |
8.480 |
99,430.00 |
103,456.00 |
7.400 |
8.74/9.00 |
BUY |
— |
4,026.00 |
4.0% |
Deep Dive Analysis of Listed Companies
Gamuda: Adding Another DC to Its Orderbook
Gamuda has secured a high-margin data center (DC) project in Cyberjaya, contributing to 8% of its orderbook from three clients. With ample capacity at its Industrialized Building System (IBS) plants, Gamuda is poised to exceed its CY24 orderbook guidance. The company is maintained at an “Add” with a target price of RM10 based on the Sum of Parts (SOP) valuation.
Kim Loong Resources: Poised for a Breakout
Technical Buy | Last Price: RM2.43
Kim Loong Resources has been consolidating in a triangle pattern for the past three months. The stock is poised for a breakout supported by higher trading volume and a bounce off the 20-day EMA. The MACD has confirmed its golden cross, and the RSI indicates rising buying momentum. Aggressive traders may want to buy at RM2.40-2.43 with a stop-loss at RM2.24. Targets are set at RM2.60 and RM2.70.
PLYTEC Holding: Uptrend Stays Intact
Technical Buy | Last Price: RM0.36
PLYTEC Holding continues its uptrend, closing at a 3-month high after a triangle breakout. The stock shows strengthening MACD and RSI, indicating rising buying momentum. Aggressive traders may consider going long with a stop-loss at RM0.32. Targets are RM0.385 and RM0.41.
Other Companies in Focus
West China Cement Ltd
Technical Buy | Last Price: RM1.25
The bullish trend has just started. Entry prices are RM1.25, RM1.10, and RM0.90 with a stop-loss at RM0.84. Targets are RM1.40, RM1.54, RM1.80, and RM2.00.
JL Mag Rare-Earth Co Ltd
Technical Buy | Last Price: RM10.86
The bullish trend has just started. Entry prices are RM10.86, RM9.20, and RM6.00 with a stop-loss at RM5.54. Targets are RM13.08, RM16.44, RM20.40, and RM24.00.
2024 IPO Tracker
We have tracked various IPOs for 2024, covering sectors from industrial products to consumer goods. Here are some notable ones:
| Stock |
Last Price (RM) |
Daily % Chg |
Intraday High at IPO (RM) |
% Chg* |
Ytd % Chg |
Sector |
Board |
Listing Date |
IPO Price (RM) |
Market Cap at IPO (RM) |
Shariah |
| KJTS Group |
0.695 |
+0.7% |
0.500 |
+39.0% |
+157.4% |
Industrial Products & Services |
Ace |
26-Jan-24 |
0.27 |
186m |
Y |
| Master Tec Group |
1.110 |
+0.9% |
0.400 |
+177.5% |
+184.6% |
Industrial Products & Services |
Ace |
29-Jan-24 |
0.39 |
398m |
Y |
Global Market Performance
Global indices saw mixed performance with notable gains in the S&P 500 and Nasdaq, driven by strong corporate earnings. European markets also showed positive movement, while Asian markets had a mixed response.
Indices Overview
| Index |
Last |
% Chg |
Ytd % Chg |
| Dow Jones |
42,052.19 |
+0.7% |
+11.6% |
| S&P 500 |
5,728.80 |
+0.4% |
+20.1% |
| Nasdaq |
18,239.92 |
+0.8% |
+21.5% |
Commodities
| Commodity |
Last |
% Chg |
Ytd % Chg |
| Gold Spot (US\$/oz) |
2,736.53 |
-0.3% |
+32.6% |
| Silver Spot \$/Oz |
32.49 |
-0.5% |
+36.5% |
| WTI Crude Oil (US\$/barrel) |
69.49 |
+0.3% |
-13.4% |
Most Active Stocks
| Stock |
Last |
% Chg |
Ytd % Chg |
| MY EG SERVICES |
0.84 |
+0.6% |
+5% |
| BINA PURI |
0.30 |
-16.7% |
-29% |
| ELRIDGE ENERGY H |
0.48 |
+9.1% |
+66% |
Conclusion
This comprehensive analysis highlights key market movements, detailed company performances, and new IPOs in 2024. Investors should remain informed and consider technical indicators when making trading decisions. Stay tuned for further updates and deep dives into more companies in the upcoming weeks.
