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FLOWS
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Thursday, 02 May 2013
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BUY
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YTL, MRCB, Axiata
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SELL
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Maybank, DRBHCOM, AMMB
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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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WTK(4243)
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02/5/2013
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RM0.975
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BUY
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RM1.20
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Japan announced promising
housing starts yesterday with bigger than expected growth of 7.3% in March
against 3% in Feb and consensus of 6%. This shows President Shinzo Abe’s
stimulus packages are gaining momentum and expect to pull Japan out of its 20
years recession. Share price has retraced from its recent high of RM1.05 (-8.6%)
with support at RM0.95 level. Stochastic has also triggered a buy call. WTK
which exports 88% of its plywood timber to Japan is expected to benefit from
15% rise in plywood prices in the 1Q that would see its net margins
normalising to 7-8% from 5.8% FY12. Currently trades at 8.4xFY13PE and P/B of
0.34x vs 7yr average of 0.67x. Buy with TP of RM1.20.
(TYK)
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MPHB(3859)
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02/5/2013
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RM3.52
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BUY
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RM4.20
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Volume picked up in the past 2
days with share price hitting an intraday low of RM3.48 on tues as investors
might be selling down ahead of GE13 on concerns of hike in gaming tax. We see
this as an opportunity to accumulate as MPHB’s demerger is targeted to be
completed by end June 2013. This would unlock value in the group with both
companies charting its own growth. Gaming will be supported by increase in
dividend payout ratio to 80% that is projected to yield 8% and introduction
of new games. MPHB Cap will maintain its insurance division while seeking JVs
with established developers to unlock its sizeable landbank which is near key
ETP projects such as TRX and RAPID in Pengerang. Buy with TP: RM4.20
(TYK)
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Calls for APRIL Week 4/ May
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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AMMB(1015)
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24/4/2013
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RM6.52
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ACCUMULATE
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RM7.30
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RM6.70
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+2.8%
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IJMLAND(5215)
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24/4/2013
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RM2.55
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BUY on weakness
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RM3.00
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RM2.58
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+1.2%
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BHIC(8133)
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25/4/2013
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RM2.20
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ACCUMULATE
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RM2.53
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RM2.10
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-4.5%
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MRCB(1651)
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25/4/2013
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RM1.38
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BUY on weakness
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RM1.68
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RM1.39
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+0.7%
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MUHIBAH(5703)
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26/4/2013
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RM1.12
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ACCUMULATE
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RM1.60
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RM1.13
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+0.9%
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MAYBULK(5077)
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26/4/2013
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RM1.53
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BUY on weakness
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RM1.80
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RM1.48
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-3.3%
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TENAGA(5347)
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29/4/2013
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RM7.83
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TRIM
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RM7.30
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RM7.80
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-0.3%
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SPSETIA(8664)
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29/4/2013
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RM3.30
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ACCUMULATE
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RM4.40
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RM3.43
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+3.9%
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PETGAS(6033)
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30/4/2013
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RM19.64
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Sell into strength
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RM18.50
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RM19.80
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+0.8%
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PCHEM(5183)
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30/4/2013
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RM6.49
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Sell into strength
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RM6.00
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RM6.53
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+1.24%
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Thursday, May 2, 2013
Morning Call | 2 May 2013
