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FLOWS
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Thursday, 19 September, 2013
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BUY
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SKPETRO, PERDANA, RHB
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SELL
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TENAGA, UEMS, GENM
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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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BURSA (1818)
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19/9/2013
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RM7.56
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BUY
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RM8.88
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Now
that the overhang of the QE is finally over, the market should pick up yet
again in trading volume given a shift of funds to riskier asset. We believe
that
(RL)
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SKPETRO(5218)
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19/9/2013
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RM3.67
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ACCUMULATE
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RM4.60
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Group
secured up to 9bil worth of new order with the largest was the 8.6mil charter
for 3 flexible pipelaying vessels from Petrobras, this raises the order book
of the group to 26.5bil for the next few years. Group also emerged as the
front runner for another RSC from Petronas which sees a partnership with
VESTIGO. Group’s is still an attractive growth story offering a 3 year EPS
CAGR of 35%. Recent resilientness in the share price was attributed to
foreign support and should pick up as global sentiments improve. Current
price is trading at forward PE of 15.9x FY 15 PE which is below peer average
of 20x. Price chart looks like its forming the right portion of a reverse
head and shoulder with a potential 49 cent upside from RM3.74 which is the
break out point. Accumulate with a short term TP of RM4.23 and eventually
RM4.60 based on 20x FY15 PE with RM0.23 sens EPS.
(RL)
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Calls for SEPT 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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KIMLUN (5171)
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11/9/2013
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RM1.92
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BUY
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RM2.34
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RM2.00
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+4.1%
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HUAYANG (5062)
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11/9/2013
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RM2.73
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ACCUMULATE
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RM3.55
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RM2.72
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-0.4%
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MAS (3786)
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12/9/2013
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RM0.32
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Trading BUY
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RM0.38
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RM0.32
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0.0%
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AIRPORT (5014)
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12/9/2013
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RM7.10
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SELL
into strength
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RM6.54
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RM7.15
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+0.7%
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UZMA (7250)
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13/9/2013
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RM4.57
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SELL
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RM3.85
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RM4.43
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-3.1%
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IJM (3336)
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13/9/2013
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RM5.57
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BUY
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RM6.50
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RM5.60
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+0.5%
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CMSB (2852)
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17/9/2013
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RM4.59
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BUY
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RM4.98
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RM5.04
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+9.8%
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UMW (4588)
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17/9/2013
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RM12.26
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ACCUMULATE
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RM13.10
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RM12.40
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+1.1%
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PMETAL (8869)
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18/9/2013
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RM2.09
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ACCUMULATE
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RM2.87
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RM2.14
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+2.3%
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CARLSBG (2836)
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18/9/2013
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RM12.86
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TRIM
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RM11.70
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RM12.74
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+1.0%
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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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