Coastal I like it very much

COASTAL : Buy on weakness (HLG)

Stock to watch: COASTAL
(RM:2.00 Buy on weakness)
Please refer to Fig4 for more financial highlights

Grossly oversold with rebound targets at RM2.16-2.26
_ The selldown from YTD high at RM2.74 (9 Feb) is probably overdone considering its healthy orderbook of over RM600m (expected to keep it busy over the next 12 months) while the company continues to replenish its orderbook with more ambitious projects; fabrication of higher end vessels and possible fabrication or repair works for the deepwater fields off Sabah, driven by Petronas’s target capital expenditure of RM300bn over the next 4 years.

_ At RM2.00, COASTAL is trading at 4.7x FY12 consensus P/E, supported by 3.1% DY and RM135m netcash (or 28sen/shr). Given its positive Harami candlestick formation and grossly oversold indicators, COASTAL is likely to stage a rebound to retest immediate targets at RM2.07 (100-d SMA) and RM2.16 (200-d SMA). A breakout above RM2.16 will spur prices higher towards RM2.26 (50-d SMA) and RM2.32 (38.2% FR). Crucial support is RM1.88. Cut loss below RM1.85.


A polytechnic student started working as a freelance prostitute when she was 17 years old and became ‘hooked’ to it ever since because of the easy cash!

In an exclusive interview with a local tabloid, ‘Cassandra’ (not her real name) said she was ‘introduced’ into the business by having dirty chat with men on the internet:

“Whenever men talked to me in chatrooms, we will inevitably flirt and talk about SEX just for fun.”

It was initially just cybersex till one man made an offer she could not resist – have sex with him for $300.

“I took up his offer because I needed the money for expenses and rather than working part-time, I thought I could make more money this way.”

‘Cassendra’ will meet her clients in the afternoons, sometimes after school. At the beginning, it was by word of mouth, but now she advertises her ‘services’ on certain websites and forums as well.

Though she is currently unemployed after dropping out of school last year, she is confident she can support herself with her ‘skills’ in prostitution:

“After two years in prostitution, I know what the men want and I have the skills to keep my regulars coming back for more because I am GOOD,” she boasted unashamedly.