FLOWS
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Tuesday, 8 January, 2013
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BUY
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SIME , ASTRO
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SELL
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MAYBANK, DIGI,
GENTING
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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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PENERGY (5133)
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8/1/2013
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RM1.60
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ACCUMULATE
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RM2.00
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Stock has retraced from a
double top of RM2 dragged down by poor qtrly earnings affected by OSV segment
from low utilization due to monsoon season. However, things are picking up in
this segment as yesterday both Alam and Perdana were awarded OSV contracts.
Expect contract awards as early as this month as co is bidding for RM3bn HUC
and topside maintenance contract under the Pan Msian Cluster. Penergy is the current service provider for Shell’s Sabah/Sarawak and
Petronas’ Sarawak HUC & topside maintenance contract, which increases its
chances of securing similar type of contracts in future. Also, Penergy’s MOU
with Baker Hughes to explore EOR opportunity is still ongoing. Technically promising as MACD has just started hooking up, RSI
neutral 49; strongly supported at RM1.54 backed by 200D SMA. Trades at attractive PER’13 10x–Accumulate with immediate target of
RM2. (LJN)
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SUNWAY (5211)
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8/1/2013
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RM2.43
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BUY
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RM3.00
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Company has been strategically landbanking in Johor
and Singapore as evident in recent announcements. Singapore has provided a
good buffer to slowing local property sales as it makes up 52% of unbilled
sales of RM2bn. Also co has positioned itself to become one of the largest
landbank owners in IDR with 1600 ac following recent acquisition of plot of
Medini land. On the construction segment, co just been awarded a RM45m
contract to design and build package 11 of Legoland Water Theme Park in Johor
adding onto its OB of RM3.5bn. Recent sale of Sunway medical to SREIT will
further unlock asset values with Sunway Giza and universities next in line.
Sunway’s stake in SREIT is equivalent to half of Sunway’s market cap. Trades
at a discount to its peers at mere PER’13 of 7x-trading buy for a breakout
above RM2.46-previous double top with an immediate target of RM3. (LJN)
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Calls for DEC WEEK 4/ JAN
WEEK 1
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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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FGV (5222)
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27/12/2012
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RM4.67
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SELL into Strength
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RM4.30
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RM4.60
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-1.5%
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AIRASIA (5099)
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27/12/2012
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RM2.53
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Trading BUY
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RM3.40
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RM2.95
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+13.7%
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STAR (6084)
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2/1/2013
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RM2.58
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BUY
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RM3.00
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RM2.69
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+4.2%
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BENALEC (5190)
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2/1/2013
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RM1.39
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BUY
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RM1.60
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RM1.40
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+0.8%
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GENTING (3182)
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3/1/2013
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RM9.29
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BUY
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RM9.82
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RM9.70
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+4.4%
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IJM (3336)
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3/1/2013
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RM5.05
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Trading BUY
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RM5.40
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RM5.20
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+2.9%
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MBMR (5983)
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4/1/2013
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RM3.37
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Accumulate
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RM4.00
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RM3.32
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+1.5%
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PERDANA (7108)
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4/1/2013
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RM1.13
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Trading BUY
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RM1.30
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RM1.17
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+4.0%
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RHBCAP(1066)
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7/1/2013
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RM7.77
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BUY
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RM8.40
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RM7.90
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+1.7%
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TIMECOM (5031)
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7/1/2013
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RM3.96
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BUY
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RM4.32
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RM4.04
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+2.0%
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Tuesday, January 8, 2013
Morning Call | 8 Jan 2013
