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FLOWS
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Friday, 5 April, 2013
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BUY
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CIMB, AMMB, GASMSIA
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SELL
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GENTING, 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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SCIENTX(4731)
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5/4/2013
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RM3.78
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Trading SELL
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RM3.40
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The acquisition of 2 operating companies from
GW Plastics Holdings Bhd (Great Wall Plastics Industries & GW Packaging
SB) for RM283m has sparked interest in Scientex. This is understandable, as
the acquisition is expected to result in significant level of synergies for
its manufacturing division - cost savings & tapping into new territories
for its product in terms of applications & clienteles. Scientex will now
become the new local market leader in both blown & cast films (estimated
at 60% market share). Besides this, its Property division also appeals as
majority of projects lies in Johor (GDV of RM2.1b as at July 2012). Co also
has adopted a dividend policy of minimum 30% of PAT, translating to yield of
c4-5%. However, the share price has risen c50% since Oct 2012, and about 22%
over the past 5 weeks. Trading at just below 8x for FY07/13, it appears
fairly valued (industry average 8x). MACD has begun to cut downwards with RSI
at 71 – Trading sell, with buyback at RM3.40 ( FY13 PE 6.5x), as we still
like it’s fundamentals & prospects.(AK)
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COASTAL(5071)
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5/4/2013
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RM2.00
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Trading BUY
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RM2.50
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After a consolidation around the RM2.00 for
the past quarter the East Malaysian shipbuilder is showing signs of moving
higher with its RSI and MACD turning up. Fundamentals remain intact, trading
at 8.2x PE historical with a yield of 2.8% and looking at 15% growth to
bottom line this year on higher vessel sales. They practice a build and sell
model which should be ideal in the current environment when O&G vessel
demand has been on the rise. The company has aspirations into entering the
space of recurring O&G asset income either in the form of drilling rigs
or FPSOs but this is still in the preliminary stages. Trading Buy with low
risk and potential target of RM2.50. (DN)
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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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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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RM2.48
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+0.8%
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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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RM1.81
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+0.5%
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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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RM2.18
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0.0%
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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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RM1.85
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+2.2%
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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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RM1.65
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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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RM1.11
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+2.7%
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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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RM0.915
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-1.1%
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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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RM2.80
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-2.8%
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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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RM0.395
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0.0%
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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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RM65.30
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+0.6%
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Friday, April 5, 2013
Morning Call | 5 April 2013
