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FLOWS
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Monday, 4 February, 2013
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BUY
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GENTING, GAMUDA,
SPSETIA
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SELL
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TENAGA, SIME,
MAYBANK
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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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P&O (6009)
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4/2/2013
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RM1.26
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BUY
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RM1.80
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Upcoming listing of Tune insurance could
spill buying interest in P&O which is in the mist of selling 49% stake in
Pacific & Orient Insurance (POI) to Sanlam Emerging Markets Propriety
Limited (SEM) for a total cash of RM270mil. P&O has received bank Negara
approval for the sale which would yield them RM1.10 in cash or 87% in current
market capitalization. Stripping out the cash received, company’s remaining
51% stake is valued at only 1.2xFY13 PE compared to Tune which is valued
around the midteens. Dividend yield in 2012 is also attractive at 8%. Buy
TP:RM1.80 (TYK)
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HUAYANG (5062)
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4/2/2013
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RM1.60
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BUY
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RM2.50
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Recently announced 9MFY13 Net profit which
grew 34% yoy with contributions from projects such as One South, and
townships such as Taman Pulai Indah and Bandar Universiti Seri Iskandar.
Earnings will be supported by unbilled sales of RM506mil, with planned
launches of RM463mil in 4QFY13. HUAYANG is expected to complete the
acquisition of 29.2acres land in Puchong in 4QFY12 that is expected to boost
its GDV by RM1.5bn to RM3.6bn. Company strategy of targeting affordable
housing is expected to ensure healthy takeup rates. Net gearing at only 0.1x
while it trades at 3.8xFY14PE with dividend yield of 8.6%. RM2.50 (TYK)
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Calls for JAN 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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GENTING (3182)
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22/1/2013
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RM9.58
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SELL
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RM8.48
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RM9.50
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-0.9%
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YINSON (7293)
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22/1/2013
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RM2.13
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BUY
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RM2.70
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RM2.20
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+3.6%
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MEDIA (4502)
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23/1/2013
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RM2.17
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BUY
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RM2.40
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RM2.23
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+3.0%
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PADINI (1052)
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23/1/2013
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RM1.73
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BUY
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RM2.00
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RM1.81
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+4.5%
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GASMSIA(5209)
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25/1/2013
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RM2.62
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DEFENSIVE ACCUMULATE
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RM2.53
>
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RM2.65
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+1.2%
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PMETAL (8869)
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25/1/2013
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RM1.87
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ACCUMULATE on
weakness
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RM1.87
>
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RM1.84
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-1.6%
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AIRASIA (5099)
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30/1/2013
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RM2.78
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BUY
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RM3.40
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RM2.80
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+0.7%
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WCT (9679)
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30/1/2013
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RM2.26
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Long Term BUY
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RM2.90
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RM2.21
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-2.6%
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KLK (2445)
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31/1/2013
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RM21.74
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SELL
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RM20.50
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RM21.70
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-0.1%
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ALAM (5115)
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31/1/2013
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RM0.84
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Trading SELL
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RM0.65-70
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RM0.84
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0.00%
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