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FLOWS
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Tuesday, 27 August, 2013
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BUY
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Digi,
TM, TNB
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SELL
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CIMB, AMMB, DRBHcm, SKPetro
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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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AAX(5238)
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27/8/2013
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RM1.05
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BUY
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RM1.44
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Share
price has fallen 12% from its IPO of RM1.25, partly due to the weakening RM
against USD as well as recent delays in opening of KLIA2. We believe current
level have priced in these risk and instead look at it robust growth going
forward. AAX fleet is expected to grow almost 3 folds to 32 planes by 2016.
This would see earnings CAGR of over 100% between FY12 to FY15 and bring PE
valuation for FY15 to 6.9x. AAX has the first mover’s advantage in the long
haul LLC segment which not only benefits from Airasia’s traffic flows but
avoids the competition that is seen by Airasia from aggressive expansion
plans from Malindo Air. Next year will see new destinations added including
Nagoya, Chongqing and Xi’an. Plans are also afloat to setup hubs in Thailand
and Indonesia by next year. RSI is only at 21 with FY14 PE at 9x. Buy with TP
RM1.44 (12xFY14)
(TYK)
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PRESBHD (5204)
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27/8/2013
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RM1.94
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BUY
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RM2.60
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Share
price has retraced 13.4% from its peak of RM2.24 recently. We believe this is
a buying opportunity as company offers dividend yield of 6% with PE of only
9x. Despite fears of government spending cuts in upcoming budget, education
sector is unlikely to be affected. Its UniMy has started operations in July
and is expected to see enrolments for degree courses by Sept. Its affiliation
with University of Melbourne as well as top IT companies such as Microsoft,
IBM, DELL and Huawei will ensure education quality at the highest level.
Trades at PER’14 of 9x. Buy with TP: RM2.60
(TYK)
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Calls for AUGUST 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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E&O(3417)
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20/8/2013
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RM2.19
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Trading SELL
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RM2.00
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RM2.08
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-5.1%
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GAMUDA(5398)
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20/8/2013
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RM4.62
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BUY on weakness
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RM5.20
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RM4.37
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-5.5%
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GASMSIA(5209)
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21/8/2013
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RM3.37
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Take Profit
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-
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RM3.36
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-0.3%%
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DIALOG (7277)
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21/8/2013
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RM2.68
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ACCUMULATE
on weakness
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-
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RM2.66
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-0.7%
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CBIP (7076)
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22/8/2013
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RM2.79
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BUY
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RM3.60
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RM2.73
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-2.2%
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WTK(4243)
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22/8/2013
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RM1.33
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ACCUMULATE
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1.74
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RM1.30
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-2.3%
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GAB (3255)
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23/8/2013
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RM18.00
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SELL
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RM16.00
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RM18.20
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+1.1%
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UOADEV(5200)
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23/8/2013
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RM2.24
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ACCUMULATE
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RM2.60
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RM2.20
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-1.8%
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BAT (4162)
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26/8/2013
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RM62.30
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Trading SELL
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-
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RM62.16
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-0.3%
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GENM (4715)
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26/8/2013
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RM4.20
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Take Profit
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-
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RM4.08
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-2.9%
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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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