FLOWS
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Wednesday, 28 August, 2013
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BUY
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UMW,
IOI, MAYBANK
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SELL
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TENAGA, MAXIS, PPB
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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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SCABLE (5170)
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28/8/2013
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RM1.76
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ACCUMULATE
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RM2.24
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The
share price had retraced more than 20% within the past 10 trading days. We
see this as an opportunity to accumulate the stock as we still expect the
decision on the award of the 500kV transmission line job ( package worth
RM1b) to be announced soon, following the completion of SCB’s rights &
bonus issue. Co is the frontrunner to clinch the job as it is the only
integrated power cable and transmission player in the state & region. The
award is also timely in order to support the intensive power needs of
investors in SCORE. Besides this, other potential jobs include the Tanjung
Manis-Bintulu and Mambong-Kalimantan lines worth RM350m. It was also recently
reported that the RM3.5b Murum dam would soon commence operations & 2 new
dams are being considered to be built in the state. Trading at alluring PER of
c6-10x FY14-15, Accumulate (TP RM2.24, 8x FY14 EPS 28s).
(AK)
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SENDAI (5205)
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28/8/2013
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RM1.44
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ACCUMULATE
on weakness
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RM1.91
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The recent pullback in the market (and Co’s share
price) & developments in Sendai’s O&G division has made the stock
appealing again. It was recently reported that Co has secured its maiden
RM25m O&G job from Petronas Carigali Iraq. Although this is partly
expected, it is positive and we expect more job wins as Sendai has tendered
for RM700-800m worth of contracts in the Middle East. For the ytd, Co has
secured cRM470m in new jobs & has an OB of RM1.5b that will last until
2016. Sendai is still bidding for selective structral steel projects in the
Middle East, Malaysia and India with a total tender book of RM8b. Although
management has guided for 11% PATAMI margins for FY13 despite a weak Q1
results, the Q2 results relaesed yesterday suggests that the improvement has
not materialised as yet. Trading at 8.6x FY14, versus peers CY14
multiples of c14x; Accumulate of weakness ( TP RM1.91, 11x FY14)
(AK)
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Calls for AUGUST Week 3/Week 4
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STOCK
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Initiation Dates
|
Initiation price
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BUY/SELL
|
TARGET PRICE
|
LAST PRICE
|
% Change
since Initiated
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GASMSIA(5209)
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21/8/2013
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RM3.37
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Take Profit
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-
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RM3.36
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-0.3%
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DIALOG (7277)
|
21/8/2013
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RM2.68
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ACCUMULATE
on weakness
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-
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RM2.61
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-2.7%
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CBIP (7076)
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22/8/2013
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RM2.79
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BUY
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RM3.60
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RM2.65
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-5.1%
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WTK(4243)
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22/8/2013
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RM1.33
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ACCUMULATE
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1.74
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RM1.22
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-8.3%
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GAB (3255)
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23/8/2013
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RM18.00
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SELL
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RM16.00
|
RM17.76
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-1.4%
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UOADEV(5200)
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23/8/2013
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RM2.24
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ACCUMULATE
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RM2.60
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RM2.14
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-4.5%
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BAT (4162)
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26/8/2013
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RM62.30
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Trading SELL
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-
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RM61.60
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-1.2%
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GENM (4715)
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26/8/2013
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RM4.20
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Take Profit
|
-
|
RM4.15
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-1.2%
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AAX(5238)
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27/8/2013
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RM1.10
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BUY
|
RM1.44
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RM1.05
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-4.6%
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PRESBHD (5204)
|
27/8/2013
|
RM1.94
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BUY
|
RM2.60
|
RM1.79
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-0.7%
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We’ve added
an extra feature (first column from right) to indicate our recommendation for
our call.
HOLD
|
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CONT SELL
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SELL/ TAKE PROFIT
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CONT BUY
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STRONG BUY
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