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FLOWS
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Thursday,
27 September, 2012
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BUY
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MAYBANK,
PCHEM, AXIATA
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SELL
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BJTOTO,
MISC, DRBHICOM
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Stock Alert
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STOCK
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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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IGB
(1597)
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27/9/2012
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RM2.24
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BUY
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RM2.54
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Investors have preferred direct exposure to its shopping mall REIT
since its listing, shunning IGB directly, resulting in a sharp fall from
around the RM2.70 levels to current lows not seen since Dec 2011. The selling
looks over done both on a technical and a fundamental perspective. RSI has
dropped to 21 with MACD showing a wide divergence and potentially cutting
back upwards. At current levels its market cap of RM3.29bn is at a
substantial discount (40%) to the combined value of its 63.9% stake in Kris
Assets and 51% in IGB Reit of RM5.5bn. On a longer term basis, it seems that
IGB will be an incubator for further REITS offering in the office space and
hospitality sector and other property development projects. Immediate upside
target of RM2.54. BUY
(DN)
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SUPERMX
(7106)
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27/9/2012
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RM2.01
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Situational BUY
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RM2.30
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The World Health Organisation has issued a global warning on the
potential spread of a virus that’s similar to contagious SARS which has
infected 2 middle eastern nationals from Qatar. An escalation of this
situation could see a rise in demands for rubber gloves similar to the
experience of SARS in Asia. Chart shows that the glove sector index r has
broken up from its downtrend and could be headed for a sustainable uptrend.
Currently trading at undemanding PE of 10x. Div yield 4%. RSI picked up
sharp. MACD on the verge of cutting up. Situational BUY. TP RM2.30
(RL)
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Calls for SEPT Week 3 / Week 4
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STOCK
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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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PPB
(4065)
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20/9/2012
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RM12.14
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BUY
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RM13.10
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MAS
(3786)
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20/9/2012
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RM1.01
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Trading BUY
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RM1.16
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PHARMA
(7081)
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21/9/2012
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RM7.43
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ACCUMULATE
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MidTerm TP - RM8.80
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DAYANG
(5141)
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21/9/2012
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RM2.00
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BUY
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RM2.20
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KLK
(2445)
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24/9/2012
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RM22.06
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TRIM
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RM20.00
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MAYBULK
(5077)
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24/9/2012
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RM1.41
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BUY
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RM1.60
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KULIM
(2003)
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25/9/2012
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RM4.68
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BUY
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RM5.00
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GENM
(4715)
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25/9/2012
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RM3.40
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ACCUMULATE
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RM3.60
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IJM
(3336)
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26/9/2012
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RM4.75
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Trading BUY
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RM4.92
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CANONE
(5105)
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26/9/2012
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RM2.54
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ACCUMULATE
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RM3.20
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