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FLOWS
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Thursday, 17 January, 2013
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BUY
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PETGAS, CIMB,
UEMLAND
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SELL
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UMW, TNB, ARMADA
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STOCK ALERT
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STOCK NAME
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DATE
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PRICE
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BUY/SELL
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TARGET PRICE
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ARMADA (5210)
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17/1/2013
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RM3.81
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ACCUMULATE
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RM4.12
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A laggard in the offshore supply vessels(osv) sector
which will have the most potential to ride on the wave of increasing vessel
daily charter rates. Recent osv contract wins have seen the prices of
Perdana, Silk and Alam outperforming the broad market substantially.
Armada has the largest fleet of osv amongst Malaysian operators and is a
blue-chip player in this sector . In this current early innings of a bull
market demand for osv & daily charter rates, Armada is a solid long term
beneficiary of this cycle. In addition the lull in FPSO contracts last year
due to various delays should be tendered out this year and Armanda, being the
4th largest FPSO operator in the world, is in this sweet
spot to reel them in. Stock has consolidated for the last month and is
now trading at the lower end of the band which is a good opportunity to build
a position in this stock. Accumulate
(PT)
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MALTON (6181)
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17/1/2013
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RM0.535
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Trading BUY
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RM0.61
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Stock is poised to breakout with the sharp rise in
volume yesterday, constructive daily & weekly technical indicators and
the taking out the recent resistance of 0.535. Malton is fundamentally
undervalued with a p/bk of 0.37x and a FY6/12 PER of 3.6x coupled with 3
quarters of improving performance. In addition, it has land banks that will
keep it occupied and sustained earnings for the next 4- 5 years with its JV
with Batu Kawan Group for 300 acres of land in Batu Kawan,
(PT)
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Calls for JAN WEEK
2/WEEK 3
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STOCK
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Initiation Dates
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Initiation price
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BUY/SELL
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TARGET
PRICE
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LAST PRICE
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% Change since Initiated
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DIALOG (7277)
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10/1/2013
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RM2.43
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ACCUMULATE
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RM2.90
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RM2.40
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-1.2%
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SCOMI (7158
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10/1/2013
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RM0.365
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Trading BUY
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RM0.41
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RM0.360
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-1.3%
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MISC (3816)
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11/1/2013
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RM4.15
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Trading BUY
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RM4.80
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RM4.25
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+2.1%
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WCT-WB (9679WB)
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11/1/2013
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RM0.435
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ACCUMULATE
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RM1.00
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RM0.44
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+1.2%
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YTLPOWR (6742)
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14/1/2013
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RM1.60
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ACCUMULATE
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RM1.80
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RM1.66
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+3.3%
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AIRPORT (5014)
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14/1/2013
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RM5.62
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BUY
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RM6.34
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RM5.51
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-1.00%
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HLIND (3301)
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15/1/2013
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RM4.53
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ACCUMULATE
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RM5.20
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RM4.50
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-0.75%
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BSTEAD (2771)
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15/1/2013
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RM4.95
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ACCUMULATE
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RM5.50
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RM4.96
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+0.3%
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COASTAL (5071)
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16/1/2013
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RM2.03
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BUY
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RM2.40
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RM2.05
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+1.0%
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SPSETIA (2771)
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16/1/2013
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RM3.20
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BUY
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RM3.70
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RM3.21
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+0.3%
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Thursday, January 17, 2013
Morning Call | 17 Jan 2013
