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FLOWS
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Wednesday, 17 April, 2013
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BUY
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GENTING, IOIC,
PERDANA
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SELL
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DIALOG, SKPETRO, KLK
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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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AIRPORT(5014)
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17/4/2013
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RM5.70
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BUY on weakness
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RM6.40
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AIRPORT (RM5.70): Share price has
retraced 7% from its peak of RM6.13 on 10th April which could
partly be due to the delay in operations of KLIA2 to 28th Jun
2013. Despite the delay we believe prospects for AIRPORT remains bright
supported by 1) booming aviation sector around the Asian region with increase
traffic and rates from the commencement of KLIA2 and emergence of airlines
such as Malindo air. 2) Potential investment tax allowance of circa RM3bn for
capital costs spent on KLIA2. 3) Plans of factory outlet with Mitsui Fudosan
Co Ltd on 50 acres land with further plans of auto city and F&B centre.
4) Further JV plans similar to WCT to monetize its 16,156 acres of
undeveloped land in Sepang. These pipelines will keep the growth momentum
intact while keeping CAPEX to the minimal as CAPEX will be borne by JV
partners. Also, FY14 will likely see Airport free cash flow turn positive for
the first time since FY07. Key support at RM5.60-70 level. BOW with TP:
RM6.40
(TYK)
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PLENITU(5075)
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17/4/2013
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RM1.97
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Strong BUY
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RM2.52
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Plenitude (RM1.97):
A cash rich property company totalling RM385.6mil or RM1.43 per share (72.5%
of current share price) with strong property launches in the pipelines for
JunFYE14 that will see 5 project with GDV worth RM1.27bn. This includes
semi-detached homes and serviced apartments worth RM740mil within its Taman
Desa Tebrau development in Johor Baru, as well as link houses in Taman Putra
Prima, Puchong with a GDV of RM250 million. Plenitude has also completed
refurbishing Tanjung Bungah Hotel and signed Sheraton Penang to operate a 5
star Hotel.
We see company as a Johor play as
well as a deeply undervalued stock. Based on last annual report, company owns
large tracts of land in Puchong, Tebrau, Sungei Petani and
Landbank
Held @ 30 June 2012
Annual
Report 2012
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Calls for APRIL Week 2-3
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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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KNM(7164)
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10/4/2013
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RM0.495
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Trading BUY
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RM0.60
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RM0.480
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-2.7%
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YEELEE(5584)
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10/4/2013
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RM0.92
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Trading BUY
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RM1.10
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RM0.89
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-3.3%
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DIALOG(7277)
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11/4/2013
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RM2.39
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ACCUMULATE
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RM2.80
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RM2.39
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0.0%
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GBGAQRS(5226)
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11/4/2013
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RM0.94
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ACCUMULATE
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RM1.04
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RM0.91
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-3.2%
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CMSB(2852)
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12/4/2013
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RM3.25
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ACCUMULATE
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RM3.53
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RM3.19
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-1.8%
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TDM(2054)
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12/4/2013
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RM4.52
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Trading SELL
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RM3.90
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RM4.39
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-2.9%
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AIRASIA(5099)
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15/4/2013
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RM2.84
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Situational BUY
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RM3.30
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RM2.82
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-0.7%
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DIGI(6947)
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15/4/2013
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RM4.69
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Technical BUY
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RM5.08
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RM4.68
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-0.2%
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TAGB(5158)
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16/4/2013
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RM0.245
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ACCUMULATE
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RM0.33
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RM0.24
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-2.0%
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IJM-WC (3336WC)
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16/4/2013
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RM1.36
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BUY
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RM1.80-RM2.00
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RM1.33
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-2.2%
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