FLOWS
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Monday, 2 September, 2013
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BUY
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MAYBANK, ALAM, RHBCAP
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SELL
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BJTOTO,
MRCB, GENM
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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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YTL (4677)
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2/9/2013
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RM1.55
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Accumulate
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RM1.83
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Stock
is attractive for a long-term positioning as we see value with its current
low valuation compared to its historical average & relative to market
valuation, its defensive characteristics during volatile markets and the
potential M&A and/or capital management exercise which the group is known
for. YTL trades at prospective PER of 12.6x & p/bk of 1.21x compared to
its 5-year average PER & p/bk of 13.2x & 1.49x respectively. It has
been consolidating since the end of last year, losing 17.6% ytd versus
KLCI’s 1.9% gain and trading near key RM1.52 support. Accumulate
(LJN/PT)
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MHB (5186)
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2/9/2013
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RM3.58
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Accumulate
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-
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Stock
has retraced 16.4% since last month high due to the emerging markets sell-off
& disappointing 2Q13 results. However, we are of the opinion that the
negative news have been discounted with the completion & delivery of
problematic contracts such as Gemusut-Kakap & Telok-B topsides. In fact
for 2H13, MHB should see a substantial improvement in earnings as it will be
recognising profit from its currently biggest job, Malaikai , which will have
hit the 25% completion stage, and management also believes they have a decent
chance of pursuing variation order claims from their completed jobs. Benefits
from vendors streamlining & cost-cutting measures should also take root
in 2H13. MHB is also tipped to secure >RM1b job in 4Q13 out of the RM4.5b
worth of jobs tendered. Accumulate
(LJN/PT)
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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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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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RM62.14
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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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RM4.21
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+0.2%
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AAX(5238)
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27/8/2013
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RM1.10
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BUY
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RM1.44
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RM1.03
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-6.4%
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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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RM1.92
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-1.1%
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SCABLE (5170)
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28/8/2013
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RM1.76
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ACCUMULATE
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RM2.24
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RM1.85
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+5.1%
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SENDAI (5205)
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28/8/2013
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RM1.44
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ACCUMULATE
on weakness
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RM1.91
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RM1.45
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+0.6%
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UMW (4588)
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29/8/2013
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RM12.12
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Trading BUY
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-
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RM12.58
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+3.7%
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SUNWAY (5211)
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29/8/2013
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RM2.74
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Trading BUY
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-
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RM2.83
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+3.2%
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BENALEC (5190)
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30/8/2013
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RM1.18
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Trading BUY
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RM1.40
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RM1.19
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+0.8%
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GADANG (9261)
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30/8/2013
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RM0.825
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Trading BUY
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RM1.30
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RM0.84
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+1.8%
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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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