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FLOWS
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Monday, 20 May, 2013
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BUY
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CIMB, TENAGA, MISC
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SELL
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DIALOG, SUNWAY, TM, IHH
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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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TDM(2054)
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20/5/2013
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RM4.99
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Trading SELL
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RM4.50
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TDM RM4.99 : The share price of TDM has moved
up by c25% ( vs sector 4.5% ) since early April 2013. Although news-flow on
plantation has been improving, we reckon CPO prices will still be subdued
until the end of the year, with stock levels still high at c1.9m mt &
expectation of further earnings disappointment in upcoming quarters remain.
We reckon TDM’s strong share price showing could partly be due to the group’s
attractive long term prospects, both from its plantation and healthcare
divisions. At current price level, Co is trading at PE of 14.5x for FY13,
quite in line with other mid-cap planters. Technical indicators are now deep
within the overbought levels ( RSI 75). We believe the positives have been
factored in - Trading Sell, buy-back at RM4.50 ( FY13 PE 13x).
(AK)
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UZMA(7250)
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20/5/2013
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RM2.87
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SELL into strength
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RM2.55
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UZMA RM2.87: The price has jumped up 30% since early May,
largely reflecting optimism that Co will be able to deliver a sterling FY13
results based on the higher units of UzmaPres delivered and the growth of its
wireline & well testing divisions. The recent contract win from
ExxonMobil Exploration & Production M’sia worth RM238m by 70% subsidiary
MECAS for the provision of oilfield chemicals & associated services
further underlined the continued confidence in the group by major O&G
names. However, with the sharp rise in share price, Uzma is now trading at
multiples of 11.4x FY13, ahead of its 2-year historical average forward PE of
c9x. Although we consider a premium warranted given the reduced earnings risk
going forward, we see it fully valued, given that Uzma is still a small cap
with low liquidity. RSI at 83 – Sell Into Strength ( Buy back RM2.55, PE10.5x
FY13)
(AK)
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Calls for MAY Week 2/ Week 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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DAYA(0091)
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13/5/2013
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RM0.22
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Trading BUY
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RM0.26
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RM0.245
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+11.3%
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MYEG(0138)
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13/5/2013
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RM1.18
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Trading SELL
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RM1.06
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RM1.33
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+12.7%
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TAANN(5012)
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14/5/2013
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RM3.52
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BUY
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RM4.03
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RM3.68
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+4.5%
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YTLPOWR(6742)
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14/5/2013
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RM1.55
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ACCUMULATE
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RM1.85
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RM1.52
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-1.9%
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MHB(5186)
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15/5/2013
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RM3.82
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BUY
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RM4.50
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RM3.67
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-4.0%
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KKB(9466)
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15/5/2013
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RM1.73
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ACCUMULATE
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RM2.50
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RM1.85
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+4.6%
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BONIA(9288)
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16/5/2013
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RM2.06
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BUY
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RM2.60
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RM1.99
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-3.4%
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HLI(3301)
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16/5/2013
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RM4.40
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BUY
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RM5.20
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RM4.36
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1.0%
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IOICORP(1961)
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17/5/2013
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RM5.07
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BUY
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RM5.38
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RM5.14
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+1.4%
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MAYBANK (1155)
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17/5/2013
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RM10.00
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Accumulate On Weakness
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RM10.40
|
RM10.02
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0.2%
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Tuesday, May 21, 2013
Morning Call | 20 May 2013
