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FLOWS
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Tuesday, 30 July, 2013
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BUY
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CIMB, MAYBANK
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SELL
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GENM, GENTING
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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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GADANG (9261)
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30/7/2013
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RM0.92
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BUY
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RM1.20
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Group’s share price declined 14%
in 4 days after group posted its results which seemed weaker due to the one
of provision that they declared under other expenses (9mil). In actual fact,
the group’s overall revenue grew 43% to RM354mil and net profit increased
37.6% to RM19.89 mil yoy behind higher contributions from construction and property
activities. Group’s fundamentals remain intact with a healthy 1.4b orderbook
until 2016 which will support its earnings, and the possibility of clinching
another 500mil yearly worth of jobs behind the robust construction sector
(MRT2, SUKE, TRX). Group is trading at 9x multiple and only 5.7x FY15 PE vs
sector average of 10x. p/b is only 0.7x. Technical indicators are on a
decline but currently share price is trading close to support of RM0.92 (50%
retracement) and slightly above RM0.885 (61% retracement). Recommend a BUY on
stock with a TP of 1.20 based 13sens FY13 EPS and 9x PE.
(RL)
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PERISAI(0047)
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30/7/2013
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RM1.56
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ACCUMULATE
on weakness
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RM2.00
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PERISAI (RM1.56) – Share
price fell 8.3% from a high of RM1.70 to current levels and found support at
RM1.51. MACD is still negative and RSI is only 45%. From a fundamental
aspect, group is still not out of the blue as it has yet to secure the next
project although the recent extension (from June to August) of the Derrick
Lay Barge E3 will continue to benefit group in the short run. The next 3
months will be an important one as the group will announce 1. new contract for the Enterprise 3 2. a new
contract/contract extension for the Rubicone MOPU (contract period ends Sept
2013), and 3. the completion of the FPSO deal with EOC Limited. Should all
these items materialise, the group will be able to report a solid 25% 3-year
EPS CAGR going forward. Stock is trading at ACCUMULATE on weakness. TP of
RM2.00 based on 13.6sens FY14 EPS and 14.7x PE.
(RL)
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Calls for JULY 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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BRAHIMS (9474)
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23/7/2013
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RM1.00
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Trading BUY
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RM1.20
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RM1.19
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+19.0%
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WTK(4243)
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23/7/2013
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RM1.24
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BUY
on weakness
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RM1.55
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RM1.22
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-1.7%
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PUNCAK (6807)
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24/7/2013
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RM2.48
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BUY
on weakness
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RM3.50
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RM2.47
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-0.5%
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DRBHCOM (1619)
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24/7/2013
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RM2.70
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BUY
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RM3.30
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RM2.65
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-1.9%
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AMBANK (1015)
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25/7/2013
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RM8.02
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SELL
into strength
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RM7.40
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RM7.94
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-1.0%
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COASTAL (5071)
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25/7/2013
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RM2.53
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BUY
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RM3.36
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RM2.85
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+12.6%
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GENP(2291)
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26/7/2013
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RM10.00
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TAKE PROFIT
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-
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RM10.10
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+1.0%
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UZMA(7250)
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26/7/2013
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RM4.00
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TAKE PROFIT
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-
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RM3.98
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-0.50%
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MAHSING (8583)
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29/7/2013
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RM2.51
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ACCUMULATE
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RM3.10
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RM2.48
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+1.2%
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QL(7084)
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29/7/2013
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RM3.60
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Trading SELL
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RM3.30
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RM3.56
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+1.2%
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We’ve added an extra feature (first column from right) to indicate our
recommendation for our call.
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HOLD
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CONT SELL
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SELL/ TAKE PROFIT
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CONT BUY
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STRONG BUY
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