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FLOWS
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Tuesday, 2 July, 2013
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BUY
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AXIATA,
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SELL
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AMBANK, GAMUDA, CIMB
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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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GTRONIC (7022)
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2/7/2013
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RM2.18
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Strong BUY
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RM2.97
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While
FY13 is expected to be another record year with full year contribution from
their proximity sensor product, group has already lined up their next
upcoming high margin product which is the optical interface sensors that are
currently being implemented into smartphones, tablets and recently the
television. We continue to like the group for its growth story as well as its
net profit margin that grew from 10% to 14% in FY12 and is expected to grow
to 17% in the next 2-3 years. Group expects a CAGR of 25% growth in net
profit averagely for the next 3 years. Additionally, group has a strong
balance sheet with a net cash of RM0.52ps; div yield still attractive at 6%.
Current share price is trading at the neckline after consolidating for the
past 6 weeks. STRONG BUY with a TP of RM2.97 based on FY14 PE of 10x.
(RL)
 |
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IGB (1597)
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2/7/2013
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RM2.54
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Trading BUY
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RM3.00
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Stock is a laggard behind its property peers
despite having a portfolio of good assets which includes 2.2mil square ft of
offices, more than 10 hotels locally and overseas as well as its 51% of IGB
REIT worth RM2.3bil which the group reaped an estimated 770mil cash. With
this said, group has the capability to pay dividends as they are currently
net cash with an estimated 900mil or RM0.60 ps. Looking ahead, group had just joined its peers to ride on the
excitement in the Iskandar region after it signed a JV to replicate its Mid
Valley mixed development in Johor with an estimated GDV of RM2bil. Share
price bounced after dipping below the 61.8% retracement level to form a
double bottom with a 23 sens upside from the neckline (RM2.53). Trading at
0.86x p/b, MACD just cut upwards. Trading BUY with a near term target of
RM2.76 And eventually RM3.00 which is still a 35% discount from RNAV.
(RL)
 |
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Calls for JUNE Week 4 - JULY
week 1
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STOCK
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Initiation Dates
|
Initiation price
|
BUY/SELL
|
TARGET
PRICE
|
LAST PRICE
|
% Change since Initiated
|
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KOSSAN(7153)
|
25/6/2013
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RM4.81
|
SELL
into Strength
|
RM4.00
|
RM5.09
(ex)
|
+5.8%
|
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AIRASIA(5099)
|
25/6/2013
|
RM3.06
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ACCUMULATE
|
RM3.60
|
RM3.19
|
+4.2%
|
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GAMUDA(5398)
|
26/6/2013
|
RM4.45
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ACCUMULATE
|
RM5.20
|
RM4.80
|
+7.8%
|
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SKPETRO(5218)
|
26/6/2013
|
RM3.86
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ACCUMULATE
|
RM4.50
|
RM4.00
|
+3.6%
|
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UOADEV(5200)
|
27/6/2013
|
RM2.23
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BUY
|
RM2.70
|
RM2.38
|
+6.7%
|
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LIONIND(4235)
|
27/6/2013
|
RM0.975
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BUY
|
RM1.40
|
RM0.995
|
+2.0%
|
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UEMS(5148)
|
28/6/2013
|
RM3.08
|
Trading SELL
|
BUYBACK
RM < 2.60
|
RM3.09 Ex
|
+0.3%
|
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SILKHLD(5078)
|
28/6/2013
|
RM0.395
|
BUY
|
RM0.50
|
RM0.38
|
-3.7%
|
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KIMLUN(5171)
|
1/7/2013
|
RM2.06
|
ACCUMULATE
|
RM2.61
|
RM2.04
|
-0.9%
|
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DAYA(0091)
|
1/7/2013
|
RM0.24
|
Trading BUY
|
RM0.28
|
RM0.24
|
0.0%
|
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Tuesday, July 2, 2013
Morning Call | 2 July 2013
