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FLOWS
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Monday, 26 Nov 2012
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BUY
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MAYBANK, PCHEM,
AXIATA
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SELL
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BJTOTO, DAYANG,
DRBHCOM
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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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WCT (9679)
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26/11/2012
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RM2.72
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Accumulate
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RM2.96
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The
company remains our preferred construction play name with a healthy orderbook
of RM3.2bil, RM600mil unbilled sales that would support future earnings next
year, as well as a RM2.7bil tender book. Its outperformance is expected to
continue hinged on civil works at KLIA2 , MRT track works and development
projects in Johor, OUG, Rawang, worth another RM7bn in GDV. WCT is currently
trading at 13x fy12 PE with a comfortable net gearing level of 0.5x after
recent land acquisition exercise. Stock prices consolidated around the RM2.70
– RM2.73 level as we see the RSI fell below the 30% line indicating that
selling has slowed significantly, MACD bottoming above the baseline,
Stochastics triggered a buy, Resistance at RM2.79, watch for any breakout in
volume. Immediate TP of RM2.96 and eventually RM3.20 on a SOP valuation. Long
Term buy.
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AIRPORT (5014)
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26/11/2012
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RM5.48
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Trading BUY
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RM5.70
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Price
weakness from the overhang of the recent placement by Khazanah @ RM5.60, has
driven the stock down to a 3 month low. This provide a good opportunity to
accumulate the counter which will be a safer exposure (14x PE 2012) to ride
on the expected rise in traffic from domestic Airports arising from the
entrance of Malindo next year coinciding with the opening of KLIA 2. The
stream of positive news flow should also help rerate the company with moves
of monetizing its substantial land bank around the Sepang area with the JV
for a factory outlet complex. It is also continuing to widen its location
presence with a bid for London’s Stansted Airport to add to its 39 existing hubs.
Technically, RSI is down to 29 with MACD divergence widening. Immediate
resistance of RM5.70 its SMA 200 day levels with a breakout above RM5.80.
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Calls for NOV 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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YTLP (6742)
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19/11/2012
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RM1.53
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BUY
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RM1.70
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RM1.56
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+1.9%
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RHBCAP (1066)
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19/11/2012
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RM7.60
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BUY
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RM8.20
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RM7.40
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-2.6%
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MBMR (5983)
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20/11/2012
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RM3.42
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BUY
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RM3.72
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RM3.40
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-0.6%
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KIMLUN (5171)
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20/11/2012
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RM1.33
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Trading BUY
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RM1.60
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RM1.36
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+2.0%
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YINSON (7293)
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21/11/2012
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RM1.84
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MT BUY
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RM2.67
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RM1.90
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+3.2%
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CYPARK (5148)
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21/11/2012
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RM1.56
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Trading BUY
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RM2.00
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RM1.55
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0.4%
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KNM (7164)
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22/11/2012
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RM0.50
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Trading BUY
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RM0.585
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RM0.480
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-4.1%
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GENM (4715)
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22/11/2012
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RM3.45
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Accumulate
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RM3.68
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RM3.50
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+1.6%
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WASEONG (5142)
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23/11/2012
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RM1.80
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Accumulate
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RM2.00
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RM1.80
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0.00%
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MBSB (1171)
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23/11/2012
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RM2.34
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Trading BUY
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RM2.80
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RM2.31
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-1.4%
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