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FLOWS
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Monday, 8 September, 2014
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BUY
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GENM, AXIATA, GENTING
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SELL
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DIGI, AMBANK,
SPSETIA
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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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TENAGA (5347)
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8/9/2014
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RM12.26
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ACCUMULATE
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RM13.50
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This recent correction has retraced nearly 50% of its up
move from RM11.94 to RM12.54 which is a reasonable level to begin
accumulation. This is especially so with potential newsflows of the
following: 1)Tenaga being approved for another 1,000MW gas-fired plant on a
fast track basis in view of the potential delay in as much as 3,000MW of new
capacity which will put a severe strain on the grid in 2016; and 2) a
possible tariff hike at the end of this month or the end of next
quarter. Tenaga, as a big cap blue chip, trades at significantly lower PER
valuation at 12.8x FY8/15 versus the other core blues and the KLCI index 17x.
Accumulate
(LJN/PT)
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AMBANK (1015)
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8/9/2014
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RM6.89
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Trading BUY
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RM8.00
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After its recent sharp fall, its trend indicator, the
macd is signalling a possible reversal with the macd on the verge
of a golden cross. Added to the current mega banking merger
theme, coupled with Maybank's dominant position being
threatened by the CIMB/RHBC merger, AMMB is an attractive candidate to have
for a trade. This is especially compelling with recent talks of ANZ Bank
(with a critical 23.8% swing vote) said to be favourable to parting their
stake in AMMB for a fair price. AMMB currently trades at an attractive PER of
11.3x & p/bk of 1.45x for FY3/15. A conservative 1.7x p/bk acquisition price
would value the stock at RM8.08 per share. Trading buy
(LJN/PT)
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Calls for AUGUST WEEK 4/ SEPT
WEEK 1 2014
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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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CENSOF (5195)
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29/8/2014
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RM0.505
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Trading Buy
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RM0.58
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RM0.570
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+12.8%
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KHEESAN (6203)
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29/8/2014
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RM0.605
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BUY
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RM0.71
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RM0.60
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-0.9%
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ARMADA (5210)
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2/9/2014
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RM2.97
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ACCUMULATE
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RM3.50
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RM3.01
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+1.3%
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WEIDA (7111)
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2/9/2014
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RM1.79
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ACCUMULATE
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RM2.20
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RM1.78
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-0.6%
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DIALOG (7277)
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3/9/2014
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RM1.71
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ACCUMULATE
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RM1.90
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RM1.85
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+8.1%
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BARAKAH (7251)
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3/9/2014
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RM1.49
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ACCUMULATE
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RM1.70
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RM1.45
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-2.7%
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PERISAI (0047)
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4/9/2014
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RM1.30
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ACCUMULATE
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RM1.58
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RM1.31
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+0.7%
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BENALEC (5190)
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4/9/2014
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RM0.91
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Trading BUY
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RM1.01
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RM0.915
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+0.5%
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ANNJOO (6556)
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5/9/2014
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RM1.31
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Trading BUY
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RM1.80
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RM1.37
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+4.5%
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BJAUTO (5248)
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5/9/2014
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RM2.70
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BUY
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RM3.20
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RM2.83
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+4.8%
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Given that our call initiated on the 29/8 to buy
Censof (5195) has achieved our target of RM0.58,
we advocate a take profit on the stock.
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Performance
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Positive
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Negative
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Neutral
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