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FLOWS
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Thursday, 4 April, 2013
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BUY
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SIME, MAHSING, CIMB
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SELL
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GENTING, DIALOG, 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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SCOMIES(7045)
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4/4/2013
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RM0.395
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BUY
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RM0.50
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Scomies(0.395) – a buy call on a laggard in the oil & gas
industry and a clear beneficiary from the Scomi Group’s recent restructuring
exercise, where the profitable O&G services of the Eastern Hemisphere
were injected into Scomies by its parent. The purchase consideration is
settled via an issue of Scomies’ shares priced at 0.47. Following the
share issue, Scomi Group’s stake in the company increased to 66% from 43%.
Hence, there is talk of a potential secondary placement of Scomies shares by
Scomi Group and it is unlikely to be lower than 0.47, hence a potentially
16% upside in the near term. It was also noted from the Bursa’s filing that
one of the executive director has been buying the shares from 0.50 to 0.40.
Stock is also trading at an attractive forward PER of 8.8x & 7.9x for the
next two financial years. (PT)
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BAT(4162)
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4/4/2013
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RM64.90
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Trading SELL
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RM58.00
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BAT(64.90) – the last 2 months saw the first sign of weakness in BAT’s
price where the stock dropped from 64.80 to 52.50 in a month after a
parabolic rise for the last 1 year. Now that the stock has rebounded to its
high, it is appropriate to sell into strength as this rebound is likely to be
the last leg of its rally as is normal for investors to be alerted when after
a good run, a stock has its first sign of weakness with a sharp correction &
then rebound which provides the last opportunity to take profit at an
attractive price. BAT is also trading at >40% premium to market PER with
an overhang of higher excise duties post-election from the government ‘s
necessity to reduce its budget deficit. In addition, the Health Ministry has
hinted of stricter tobacco regulations recently. Trading sell with a view to
reposition back at 58.00.(PT)
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Calls for MARCH Week 4/ APRIL
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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MMCCORP(2194)
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28/3/2013
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RM2.55
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BUY
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RM2.75
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RM2.60
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+1.9%
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MUDAJYA(5085)
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28/3/2013
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RM2.38
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ACCUMULATE
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RM2.70
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RM2.38
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0.0%
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OLDTOWN(5201)
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29/3/2013
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RM2.46
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Trading SELL
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RM2.20
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RM2.45
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-0.4%
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JTIASA(4383)
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29/3/2013
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RM1.80
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ACCUMULATE
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RM2.14
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RM1.80
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0.0%
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TSH(9059)
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1/4/2013
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RM2.18
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Long Term BUY
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RM2.70
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RM2.20
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+0.9%
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HUAYANG(5062)
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1/4/2013
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RM1.81
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Strong BUY
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RM2.10
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RM1.84
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+1.6%
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YTL(4677)
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2/4/2013
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RM1.64
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ACCUMULATE
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RM2.00
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RM1.63
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-0.6%
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PERISAI(0047)
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2/4/2013
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RM1.08
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BUY
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RM1.40
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RM1.10
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+1.9%
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UNISEM(5005)
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3/4/2013
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RM0.905
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Trading BUY
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RM1.10
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RM0.89
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-1.6%
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EKOVEST(8877)
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3/4/2013
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RM2.88
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Trading BUY
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RM3.50
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RM2.82
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-2.1%
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