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FLOWS
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Tuesday, 4th December 2012
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BUY
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SUPERMAX, AXIATA,
OLDTOWN
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SELL
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AMBANK, GENTING, IJM
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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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GADANG (9261)
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4/12/2012
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RM0.60
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Trading BUY
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RM0.70
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Gadang
(RM0.60) – stk is back down to its neckline of its head and shoulder
formation, coinciding with its 200D SMA support lvl. MACD is oversold since
peaking at RM0.695. Recently awarded MRT Lembah Kelang: Jajaran Sungai
Buloh-Kajang - Package V2 at a contract sum of RM863.4m. The Project involves
the construction and completion of viaduct guideway and other associated
works from Kota Damansara Station to Dataran Sunway Station. This contract
will increase the company's order books to around RM1.6bn v mkt cap RM118m.
Trades at PER 8x, P:B 0.5x, div yield 3.3% and backed by its ability to
secure key ETP projs: klia2, MRT, RAPID etc-
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PCHEM (5183)
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4/12/2012
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RM5.66
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BUY
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RM6.20
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Stock started falling after reporting poor 3Q results and warned of
bleak industry outlook. Co is expected to continue to
suffer from weaker margins and challenging
operations from continued feedstock shortages. In addition, its decision to discontinue its vinyl business will result in a RM560m
charge in its upcoming Q4 FY12 results. All these –ves should be priced in as
stock has contracted
18% from recent peak of RM6.65 following earnings and price targets downgrade
to better reflect this. Heavy sell down yesterday saw PChem as
top loser shaving off 4pts to the KLCI. MACD is severely oversold with RSI at
13x indicating that this sell down is overdone as it brings PER ’13 to a
comparable 12x v regional average PER of 12x (Thai 9x, Spore 10x, Taiwan
17x)-look to buy for a technical bounce with immediate support at RM5.50.
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Calls for 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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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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RM0.805
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-1.2%
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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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RM1.35
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+4.6%
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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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RM1.46
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0.0%
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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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RM1.72
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-7.2%
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SPSETIA (8664)
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29/11/2012
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RM3.05
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Accumulate
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RM3.40
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RM3.17
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+3.9%
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KULIM (2003)
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29/11/2012
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RM4.28
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BUY
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RM4.70
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RM4.48
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+4.46%
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KPJ (5878)
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30/11/2012
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RM5.80
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BUY on weakness
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RM6.20
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RM5.90
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+1.7%
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LIONIND (4235)
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30/11/2012
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RM0.91
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BUY
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RM1.15
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RM0.91
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0.00%
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MISC (3186)
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03/12/2012
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RM4.02
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Mid Term BUY
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RM4.48
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RM4.02
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0.00%
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OSK (5053)
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03/12/2012
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RM1.40
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Accumulate
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RM1.71
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RM1.42
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+1.4%
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