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FLOWS
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Wednesday,6 March, 2013
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BUY
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GENTING, GAMUDA,
IJMLAND
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SELL
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TNB, SIME, 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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APM(5015)
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6/3/2013
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RM4.99
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ACCUMULATE
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RM5.50
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Share price has fallen 16% from peak of
RM6.00 on weaker earnings due to weaker yen that saw them writing down its
inventory. We deem this sharp drop an opportunity to accumulate into APM
which is expected to benefit from further localization and Nissan push in the
ASEAN region. Buy as dividend 6.3% is expected to be sustained given net cash
of RM400mil and Tchong’s high capex requirement. Accumulate TP: RM5.50
(TYK)
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TEBRAU(1589)
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6/3/2013
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RM0.94
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BUY
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RM1.40
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Share price has
been on the rise as Tebrau is a proxy for investors to participate in the
Johor Iskandar growth story. We believe there is more upside for Tebrau ahead
of the listing of its parent company, Iskandar Waterfront Holdings, slated
for June. Tebrau owns about 1008 acres of land in the Tebrau region with the
land valued at only RM13.36psf on its books compared to recent transaction
which was closer to RM60psf. Tebrau is looking to launch The Botanica @ Bayu
Puteri with GDV of RM488mil by 2Q. Given the size of its landbank, there is
also a possibility of Tebrau doing a JV with a prominent developer to enhance
the value of its assets. Furthermore,
it has been appointed by the Johor State Government to develop 413 acres of
land in Pengerang to complement the RAPID project. Since Nov 2012, Tebrau has
been awarded contract worth in total of RM368.3mil for site clearance,
earthwork, building and infrastructure works. This is 2.7x its construction
revenue last year. We believe these project pipeline argurs well for Tebrau’s
prospect. Share price is on an upward rising channel with MACD on the verge
of cutting up. Breaking above RM1.00
could see Tebrau achieve a mid term TP of RM1.40-1.50
(TYK)
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Calls for FEB WEEK 3/4
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STOCK
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Initiation Dates
|
Initiation price
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BUY/SELL
|
TARGET
PRICE
|
LAST PRICE
|
% Change since Initiated
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AMBANK(1015)
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26/2/2013
|
RM6.29
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ACCUMULATE
|
RM6.50
|
RM6.33
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+0.63%
|
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TM(4863)
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26/2/2013
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RM5.32
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ACCUMULATE
|
RM6.00
|
RM5.32
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+0.00%
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UZMA(7250)
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27/2/2013
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RM1.65
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Trading BUY
|
RM2.00
|
RM1.65
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+0.00%
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BSTEAD(2771)
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27/2/2013
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RM4.75
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ACCUMULATE
|
RM5.20
|
RM4.80
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+1.05%
|
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SCOMI(7158)
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28/2/2013
|
RM0.315
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BUY
|
RM0.37
|
RM0.32
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+1.59%
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PUNCAK(6807)
|
28/2/2013
|
RM1.35
|
Switch
|
RM1.60
|
RM1.34
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-0.74%
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MUDAJYA(5085)
|
1/3/2013
|
RM2.45
|
ACCUMULATE
|
RM2.90
|
RM2.43
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-0.82%
|
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GAMUDA(5398WD)
|
1/3/2013
|
RM1.10
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BUY
|
RM1.30
|
RM1.16
|
+5.45%
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E&O(3417)
|
5/3/2013
|
RM1.57
|
ACCUMULATE
|
RM1.82
|
RM1.58
|
+0.64%
|
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IJMLAND(5215)
|
5/3/2013
|
RM2.15
|
BUY
|
RM2.62
|
RM2.22
|
+3.26%
|
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Wednesday, March 6, 2013
Morning Call | 6 March 2013
