I go straight to the point. There are four reasons why we should do so.
1) East Malaysia Constrution Theme Play
Construction theme back again, but this time has a bit difference. The theme play is came from East Malaysia, especially Sarawak. As we know, NAIM has involved 33% respectively in property, contstruction and oil & gas industy in Sarawak. The group is currently tendering for road infrastructure project in Sarawak namely the second coastal project.
2) No Coverage from IBs
DAYANG can’t perform recently mainly due to downgraded TP from IBs, which named Kenanga, Public Bank and Hong Leong Investment Bank. From the peak at RM1.74 to RM1.26, dropped 27% just in a week. But for NAIM, it didn’t coverage by any research house.
3) No Lump Sum Work Orders
Analysts from research houses said that lump sum orders in 2018 is not sustainable. It should normalize in next few quarters. Naysayers keep attacking Dayang by using this point. But so far, there is no lump sum work for NAIM, so it's very safe too.
4) Low Forward PER, with 8 Sen per Quarter
People said the latest eps for NAIM as high as 17sen, but after rights issue, it should be 8sen. Can NAIM's share price take over DAYANG's in near future. Let's see.
To be frank, DAYANG is under fire. But maybe NAIM is a best proxy for it. Switch or not, you make your own decision.