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FLOWS
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Monday, 13 July, 2015
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BUY
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MAYBANK,
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SELL
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ARMADA, PCHEM
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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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HUAYANG (5062)
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13/07/2015
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RM1.90
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ACCUMULATE
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RM2.40
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We continue to like
Huayang for being one of the few property developers to focus on the
affordable housing market which is expected to stay resilient for the next
few years to come. Moving forward, the group will continue its land banking
activities (with gearing down to 0.49x while launching its up and coming
project in Puchong Wests (RM1.35bn) in 2h of the year. Share price is
currently trading at depressed level as it closed at its 61.8% retracement
after falling from a recent high of RM2.20. Currently trading at only FY16 of
4.7x PE vs its average of 6x. div yield of 7.3% and 7.6%. Share price is also
trading at a huge discount (46%) to its RNAV of RM3.50. ACCUMULATE
(RL)
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BJAUTO (5248)
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13/07/2015
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RM2.50
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BUY on weakness
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RM3.00
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Share fell dipped
14% over the past 2 week following the weaker ringgit against the JPY but we
think the sell down is unwarranted as up to 90% of its JPY exposure until end
august is hedged. In the near term, Vehicle sales expected to pick up ahead
of the Pre Raya sales campaign and its 25% CAGR to be supported by more
future launches. Fundamental of the stock remains intact with more upcoming
launches of its successful CX-3 by year end, its prominent CX-5 facelift CKD
(Nov), diesel variants of the CX-5 and Mazda 2 as well as it’s a D segment
signature, the Mazda 6 CKD (1h16). Currently trading at undemanding valuation
of 10.8x for FY16 and 9.6x for FY17 vs peers of 13x. Buy on weakness. TP
RM3.00 based on 13x PE for FY16.
(RL)
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Calls for JULY WEEK 1 WEEK 2 2015
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STOCK
|
Initiation
Dates
|
Initiation
price
|
BUY/SELL
|
TARGET
PRICE
|
LAST PRICE
|
% Change
since Initiated
|
||||
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IHH (5225)
|
06/07/2015
|
RM5.89
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TAKE PROFIT
|
-
|
RM5.88
|
-0.2%
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MRCB(1651)
|
06/07/2015
|
RM1.20
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ACCUMULATE
|
RM1.40
|
RM1.13
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-5.9%
|
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PCHEM (5183)
|
07/07/2015
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RM6.40
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TRIM
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RM5.50
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RM6.20
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-3.2%
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WCT (9679)
|
07/07/2015
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RM1.38
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ACCUMULATE
|
RM1.63
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RM1.45
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+5.0%
|
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CSCENIC (7202)
|
08/07/2015
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RM1.22
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ACCUMULATE
|
RM1.50
|
RM1.19
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-2.5%
|
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MMCCORP (2194)
|
08/07/2015
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RM2.39
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ACCUMULATE
|
RM3.00
|
RM2.38
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-0.5%
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TMCLIFE (0101)
|
09/07/2015
|
RM0.56
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BUY
|
RM0.62
|
RM0.585
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+4.4%
|
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GTRONIC (7022)
|
09/07/2015
|
RM5.44
|
ACCUMULATE
|
RM6.00
|
RM5.83
|
+7.1%
|
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SALCON (8567)
|
10/07/2015
|
RM0.745
|
ACCUMULATE
|
RM1.05
|
RM0.765
|
+2.6%
|
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MUHIBBAH (5703)
|
10/07/2015
|
RM2.14
|
ACCUMULATE
|
RM2.74
|
RM2.23
|
+4.2%
|
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PERFORMANCE
ALERT
|
|||||
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STOCK
|
Initiation
dates
|
Initiation
price
|
Target
Price
|
Action
|
Returns
|
|
SKPETRO (5218)
|
15/04/2015
|
RM2.40
|
RM2.75
|
Take
profit
|
14.5%
|
|
UNISEM (5005)
|
22/04/2015
|
RM2.60
|
BB
– RM2.30
|
Trading
buy
|
-
|
|
SKPRES (7155)
|
08/05/2015
|
RM0.845
|
RM1.10
|
Take
profit
|
19.5%
|
|
TOPGLOV (7113)
|
08/06/2015
|
RM5.47
|
-
|
Trading
Sell
|
-
|
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KNM (7164)
|
23/06/2015
|
RM0.54
|
RM0.62
|
Trading
Sell
|
13.0%
|
|
Performance
|
|
|
Positive
|
|
|
Negative
|
|
|
Neutral
|
|
