March Review

This is the first update since 2018, Malaysia market start with a bullish month in January however the power retreat very fast since early February. DJIA has the largest single day dropping at 2 Feb for 665 points. Review back we have a sharp pull back since that time and market sentiment change to become very weak.

1. DJIA - The index almost drop 11% from the highest and testing the psychology level 200 days average. This is a long waiting adjustment since year 2017, we foresee this is a healthy adjustment and may lead DJIA to go back higher again. However this adjustment still not yet complete and we are still monitoring the progress, mostly it may break the 200 days average and start consolidate.

2. S&P 500 - The index move in tandem like DJIA.

3. FBMKLCI - The only reason index remain so strong is because of election. However if you looking at share price which excluded the index counters most fall at least 20-30%.

4. Property counters very attractive now, after three years drop we may have this sector rebound after election? The ower the P/TBV mean the stock is undervalue.

Link : http://www.theedgemarkets.com/article/still-not-appealing-after-fall

5. Some counters fall below their NTA ( price as at 23 Mar 2018)

• CSCSTEL RM1.40,  NTA RM2.22,  PE 8.96,    EPS 16.20
• KERJAYA RM1.53,  NTA RM1.55,  PE 14.81,  EPS 23.32
• IQGROUP RM1.41,  NTA RM1.74,  PE 16.51,  EPS 8.54
• PERSTIM RM3.56,  NTA RM3.77,   PE 13.65,  EPS 25.87
• BPPLAS   RM0.88,  NTA RM0.89,   PE 13.09,   EPS 6.83
• JAYCORP RM1.20,  NTA RM1.15,  PE 6.20,  EPS 18.36
• TGUAN    RM2.79,  NTA RM3.47,  PE 8.82,  EPS 34.87
• MUHIBAH RM3.00,  NTA RM2.18,  PE 7.42,  EPS 27.40

以上纯属个人分析与评论，如有任何疑问，欢迎与我交流讨论。任何股票买卖建议输赢绝对不负责。

From：林友志 （Lim Yu Chee)