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FLOWS
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Friday, 21 June, 2013
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BUY
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DIALOG, MAYBANK, PBB
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SELL
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TENAGA, GENM, IOICORP
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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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IHH(5225)
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21/6/2013
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RM4.03
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TAKE PROFIT
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-
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Stock
trades at lofty valuations or PER of 47.4x for FY13 and 38.4x for FY14. This
is expensive compared to emerging markets (EM) and EM Asia healthcare sector
average PER of 19.2x & 19.3x respectively. Even its Asean counterparts of
(PT)
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E&O(3417)
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21/6/2013
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RM1.84
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BUY
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RM2.05
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Stock
has pulled back nearly 20% from its recent high of RM2.29, and is trading
close to retracement support of RM1.79. At the current level, it is
appropriate to begin accumulation of E&O, especially if the weak
sentiment allows one to accumulate cheap stocks in size. E&O is trading
at 40% discount to RNAV and a forward PER of 14x & 12x for the next 2
years based on market consensus. However, the consensus numbers have yet to
impute the recently released plans and guidance by the Deputy MD, where he
mentioned that the company is launching RM3-4b worth of projects in the next
2-3 years with PAT of RM270m-350m, as FY12-13 are the years where the
foundations have been laid for further expansion and new growth development
opportunities. For the FY3/13, E&O reported a PAT of RM137m, hence its
price may double in 2-3 years if they achieved their PAT targets and market
maintains the same PER valuation for the stock. Buy
(PT)
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Calls for JUNE Week 2 & 3
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STOCK
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Initiation Dates
|
Initiation price
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BUY/SELL
|
TARGET
PRICE
|
LAST PRICE
|
% Change since Initiated
|
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MAYBANK(1155)
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14/6/2013
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RM10.04
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BUY
|
RM10.58
|
RM10.36
|
+3.1%
|
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MRCB(1651)
|
14/6/2013
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RM1.55
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BUY
|
RM1.80
|
RM1.53
|
-1.3%
|
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GADANG(9261)
|
17/6/2013
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RM0.81
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BUY
|
RM1.04
|
RM0.815
|
+0.6%
|
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DELEUM(5132)
|
17/6/2013
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RM3.06
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ACCUMULATE
|
RM3.50
|
RM3.10
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+1.3%
|
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SUPERMX(7106)
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18/6/2013
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RM1.91
|
BUY on weakness
|
RM2.40
|
RM1.98
|
+3.6%
|
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MAHSING (8583)
|
18/6/2013
|
RM2.86
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BUY
|
RM3.60
|
RM2.94
|
+2.7%
|
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SKPRES(7155)
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19/6/2013
|
RM0.315
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BUY
|
RM0.37
|
RM0.305
|
-3.0%
|
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YTLLAND(2577)
|
19/6/2013
|
RM1.12
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BUY
|
RM1.36
|
RM1.09
|
-2.7%
|
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KKB(9466)
|
20/6/2013
|
RM2.10
|
ACCUMULATE
|
RM2.80
|
RM2.00
|
-4.8%
|
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CANONE(5105)
|
20/6/2013
|
RM3.44
|
ACCUMULATE
|
RM5.00
|
RM3.37
|
-2.1%
|
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Friday, June 21, 2013
Morning Call | 21 June 2013
