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FLOWS
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Monday, 19 August 2013
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BUY
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SKPETRO, MAYBANK, CIMB
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SELL
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AIRASIA, AXIATA, TENAGA
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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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BUY
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NAIM(5073)
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19/8/2013
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RM3.86
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Trading BUY
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-
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Stock is attractive trading at prospective
FY13 & FY14 PER of 8.4x & 7.0x respectively. During the current
lacklustre market, it is an opportunity to accumulate Naim as it is a proxy
to one of the favourite investment themes in Malaysia - the Sarawak Corridor
of Renewable Energy (SCORE) – an expected beneficiary of the coming October
Budget infrastructure allocations. Naim’s sustained high construction margins
is due to limited competition from only a small pool of
Sarawak-state-registered contractors for most public jobs in Sarawak. Its
property division is also buoyed by the property boom in Bintulu (a
beneficiary of the buoyant O&G sector) & the massive industrial
development in Samalaju. Naim is also a cheap exposure to the O&G
services sector through its 33.6%-owned Dayang. Technically, the stock has
retraced 10% from its recent high of Rm4.30 and is trading near to
strong support of RM3.80. Accumulate
(PT)
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MHB (5186)
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19/8/2013
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RM4.07
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ACCUMULATE
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-
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Share price has corrected from recent high
post the 2Q13 results and is trading close to the immediate support band of
RM4.00- RM3.95. It is appropriate level to begin accumulation of MHB due to
the following factors:- 1) the bulk of the negative news has been discounted
with the completion of the problematic contracts in 2Q13; 2) 2H13 should see
recognition of profit for jobs that have been started in 2Q13 but have not
hit the 25% profit-recognition stage; 3) recent transformation initiatives
such as the cost cutting & streamlining of suppliers/vendors measures are
starting to bear fruit; and 4) MHB is tipped for >RM1b job wins in 2H13
(co has tendered for RM4.5b worth of jobs). Accumulate
(PT)
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Calls for AUGUST 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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MUHIBAH(5703)
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12/8/2013
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RM2.48
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ACCUMULATE
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-
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RM2.44(ex)
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-1.2%
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SUNREIT(5176)
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12/8/2013
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RM1.36
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ACCUMULATE
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-
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RM1.37
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+0.7%
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WCT(9679)
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13/8/2013
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RM2.52
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BUY
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RM3.08
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RM2.52
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0.0%
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CENSOF (5195)
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13/8/2013
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RM0.525
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BUY
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RM0.69
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RM0.53
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+0.9%
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SKPETRO(5218)
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14/8/2013
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RM3.71
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BUY
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-
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RM3.85
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+3.7%
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RHBCAP(1066)
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14/8/2013
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RM8.05
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BUY
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-
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RM8.05
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0.0%
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PTARAS(9598)
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15/8/2013
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RM6.16
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Trading SELL
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RM5.50
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RM6.14
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-0.4%
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SUPERMX(7106)
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15/8/2013
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RM2.40
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Trading SELL
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RM2.18
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RM2.40
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0.0%
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TRC (5054)
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16/8/2013
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RM0.64
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Trading BUY
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RM0.75
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RM0.635
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+0.8%
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TIMECOM(5031)
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16/8/2013
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RM4.00
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BUY
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-
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RM4.00
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0.0%
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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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