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FLOWS
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Monday, 3 June, 2013
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BUY
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CIMB, IOICORP, ALAM
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SELL
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DIALOG, GENM, SIME
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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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KSL(5038)
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3/6/2013
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RM2.27
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ACCUMULATE
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RM2.60-2.80
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KSL is one of the better mid to small cap
property developers listed on Bursa. It has a low gearing of 0.2x, an
attractive valuation of price/nta of 0.79x and forward PER of 5.5x & 5.4x
for FY13 & FY14 respectively. Its main property development projects and
land bank are in Johor and in the Klang. There were media speculation of KSL
being a potential privatization candidate in view of the above fundamentals
and also the high shareholding by the controlling shareholder (approximately
51%). KSL has reported 3 consecutive quarters of improving performance and
its recent property launches continued to fetch take-up rates of more than
80% despite launching at increasing prices. Technically, the stock has
cleared the long term resistance of 2.00-2.06 and has an upside objective of
around 2.60-2.80. Accumulate
(PT)
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KINSTEL(5060)
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3/6/2013
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RM0.35
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Trading BUY
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RM0.45
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Stock has retraced more than 50% of its
recent rally from RM0.285 to RM0.43 which is a decent entry level for a
profitable trade. The longer term chart is positive with the stock trading
above its falling trend line and the short-term moving averages having cut
above the longer-term moving averages. Kinstel recently reported
a positive EBIDTA of RM34m for Q1’13 after the losses of the past few
quarters and has improving fundamentals ahead with the antidumping duties
imposed against cheap imports of long steel products into Malaysia,
coupled with the various ETP mega projects improving both the demand
and selling prices of its products. This will ensure the company shows a
significant improvement in its performance in the next few quarters. Kinstel
is also undervalued at the current level, trading at a p/bk of 061x which is
more than 1x standard deviation from its mean of 0.89x for the last 5 years.
(PT)
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Calls for MAY Week 3/ Week 4
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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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MULPHA (3905)
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27/5/2013
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RM0.445
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BUY
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RM0.68
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RM0.455
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0.0%
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GENTING (3182)
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27/5/2013
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RM10.30
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Accumulate
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RM11.78
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RM10.12
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-1.8%
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PRESBHD (5204)
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28/5/2013
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RM1.70
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ACCUMULATE
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RM2.30
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RM1.77
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+4.1%
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KIMLUN(5171)
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28/5/2013
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RM1.91
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ACCUMULATE
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RM2.26
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RM2.25
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+17.8%
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HUNZPTY(5018)
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29/5/2013
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RM2.35
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LONG TERM BUY
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RM2.80
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RM2.35
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0.0%
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LAFMSIA(3794)
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29/5/2013
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RM10.98
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TRADING SELL
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RM9.75
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RM10.80
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-1.6%
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TSRCAP(5042)
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30/5/2013
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RM0.81
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Trading BUY
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RM1.00
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RM0.81
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0.0%
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BPURI(5932)
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30/5/2013
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RM0.805
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Trading BUY on
Weakness
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RM1.00
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RM0.800
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+0.7%
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TIENWAH(7374)
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31/5/2013
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RM2.55
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ACCUMULATE
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RM3.00
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RM2.57
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+0.7%
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FAJAR(7047)
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31/5/2013
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RM0.72
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BUY on weakness
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RM0.83
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RM0.720
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0.0%
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Monday, June 3, 2013
Morning Call | 3 Jun 2013
