mid year sale???

MFB

Faber < $0.96

Dialog < $1.35

Parkson < $5.10

Bursa < $7.80

TMI < $6.90

Maybulk < $3.70

Sapuracrest < $1.35

KNM < $6.10

Opus < $0.94

Hap Seng Consolidated < $2.80

RCE Cap < $0.55

Evergreen < $1.40

Wah Seong < $2.14

Ranhill < $1.08

Kinsteel < $1.55

You will note that some are actually worth collecting already (as they have moved lower than these target prices) based on those target prices.

Faber - Issued capital: 363m 52 week High-Low: 1.86-0.75

The key component in Faber is Faber Medi-Serve which they own 69.96% and it contributes 60% of Faber's PBT. Faber has announced it will acquire the remaining 30% from Medlux Overseas for RM85.5m and the redemption of RM115 RCPs from Jeram Bintang Sdn Bhd. Faber is buying at just 7x 2007 PER for FMS. The cleansing of RCPs would erase the potential 26% dilution effect. Hence the deal is very good for Faber's shares.The other timely deal was the disposal of Sheraton Hanoi to Berjaya Land which raised Faber's cash hoard to RM438m or a net cash balance of RM247m. FMS earned RM41m PBT in 2007. Net eps for 2008 should hit 20 sen, and looking at the current share price of 94 sen, its a steal literally.

Why no action? Well, nobody seems to be following the stock for now. UEM owns 38%, the rest are pretty well spread. Although I am not a fan of sum-of-the-parts as a catalyst, its worth noting that the share has a SOTP of at least RM2.70 per share. Once UEM gets around to it, its a very brilliant privatisation. Maybe its so small to UEM now. Still, a bargain is a bargain. One of the major concerns was as to whether Faber's HFM concessions in the opposition-controlled northern states will be reviewed. The recent submission for approval for extension should assuage investors' fears.There is no target price, but buying below RM1.00 presents little risk. One should be able to reap at least 50% return when market perks back up to 1,400.