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FLOWS
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Wednesday, 28 November, 2012
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BUY
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CIMB,
GAMUDA, IOICORP
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SELL
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PCHEM,
SPSETIA, TM
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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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SUNREIT(5176)
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28/11/2012
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RM1.46
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Accumulate
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RM1.60
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Share price has fallen
almost 5% since it announced the asset injection of Sunway Medical Centre
(SMC) in 8th Oct. We believe this offers an attractive entry level to buy
into a defensive stock amidst the weaker market sentiment while still
garnering dividend yield of 5.5% for JunFYE14. This yield is also the highest
among the top 4 REITs in Malaysia. To recap, SUNREIT has proposed to acquire
SMC for RM310m that will propel them to number 2 in MREIT by market cap. This
is expected to be completed by 1QCY13. SUNREIT also has healthy asset
injection pipeline worth close to RM2.7bn including assets such as Sunway
University and Sunway Giza. Accumulate.
TP: RM1.60
(TYK)
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PADINI (7052)
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28/11/2012
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RM1.85
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SELL
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RM1.60
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Stock has been one of the
outperformer YTD at 70% we believe given the recent selldown of consumer
names, PADINI could break its key support line of RM1.80 as vol picked up
over the past 2 days. PADINI could be facing slower growth going forward
given the introduction of H&M and only projected 6% increase in total
floor space for FY13. Same store sales growth in 1QFY13 is also expected to
be subdued. Currently trades at 11xFY13 PE against its 5 year historical
average of 10x. Dividend yield is also unattractive at 4% for FY13. Sell with
TP: RM1.60.
(TYK)
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Calls
for NOV Week 3 / Week 4
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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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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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RM1.88
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+2.2%
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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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RM1.50
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-3.8%
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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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RM0.455
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-9%
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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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RM3.51
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+1.7%
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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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RM1.76
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-2.2%
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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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RM2.25
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-3.8%
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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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RM2.75
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+1.1%
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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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RM5.18
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-5.5%
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GLOMAC(5020)
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27/11/2012
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RM0.815
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BUY on weakness
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RM1.00
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RM0.815
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+0.00%
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BENALEC (5190)
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27/11/2012
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RM1.29
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BUY on weakness
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RM1.60
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RM1.28
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-0.7%
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Wednesday, November 28, 2012
Morning Call | 28 Nov 2012
