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FLOWS
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Thursday, 3 January, 2013
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BUY
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PBBANK, CIMB, SIME,
MRCB
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SELL
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IOI, MAXIS, 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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GENTING (3182)
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3/1/2013
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RM9.29
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BUY
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RM9.82
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Genting (RM9.29) - better sentiments and
higher tolerance level for risk going into 2013 due to better economic
numbers globally and the fading tail risk of China hard landing & EU
region disintegration. This environment favours high beta names and
Genting with a beta of 1.39 vs FBMKLCI is a good bet especially coupled
with its good liquidity & large market cap is a darling of foreign funds
whenever there is a shift in allocation to emerging markets. The stock has
also been consolidating at its base for the last 13 weeks similar to its
March to June period of 2010 before it rallied strongly all the way to its
January 2011 high. MACD buy signal has just been triggered yesterday. Genting
is also one of the cheapest casino stocks on an EV/ebidta basis and is
trading at the lower end of its PER & P/bk band. In addition, HK casino
stocks, which have done very well in the last quarter of 2012, rallied
strongly yesterday and Genting S’pore (a 52% sub of Genting) rose >4% on
huge break-out volume. Buy (PT)
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IJM (3336)
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3/1/2013
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RM5.05
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Trading BUY
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RM5.40
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IJM (RM5.05) – after
consolidating at the bottom for the last 4 months awaiting major contract
wins, the confirmation of award of the WCE to KEuro (23% associate of IJM) is
definitely positive for IJM and provide an opportunity for the major foreign
houses to reiterate their buy calls. This will allow IJM to ride on the funds
that have been currently been reallocated to the emerging markets. The daily
and weekly charts have also recently turned constructive after the months of
consolidation. With this possibility of an additional RM4bn contracts to the
current order book of RM2.6bn, it will provide IJM to break out from its
consolidation and target the 5.30 – 5.50 range. Tradiing buy
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Calls
for DEC WEEK 4/ JAN WEEK 1
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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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CYPARK (5184)
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19/12/2012
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RM1.54
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BUY
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RM2.00
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RM1.65
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+7.1%
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DIALOG (7277)
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19/12/2012
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RM2.39
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BUY on weakness
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RM2.80
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RM2.42
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+1.2%
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GCB (5102)
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20/12/2012
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RM1.61
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BUY
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RM1.90
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RM1.66
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+3.1%
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NAIM (5073)
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20/12/2012
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RM1.79
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BUY
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RM2.30
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RM1.79
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0.0%
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MAHSING (8583)
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21/12/2012
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RM2.16
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Accumulate
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RM2.50
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RM2.06
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-4.38%
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QL (7084)
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21/12/2012
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RM3.07
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BUY on Weakness
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RM3.60
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RM3.15
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+2.6%
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FGV (5222)
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27/12/2012
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RM4.67
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SELL into Strength
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RM4.30
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RM4.62
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-1.3%
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AIRASIA (5099)
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27/12/2012
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RM2.53
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Trading BUY
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RM3.40
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RM2.77
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+9.3%
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STAR (6084)
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2/1/2013
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RM2.58
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BUY
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RM3.00
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RM2.73
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+5.8%
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BENALEC (5190)
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2/1/2013
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RM1.39
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BUY
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RM1.60
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RM1.37
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-1.5%
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