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FLOWS
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Monday, 28 October, 2013
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BUY
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ARMADA, GENTING
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SELL
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KIMLUN, MUDAJYA, GAMUDA
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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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KEURO(3565)
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28/10/2013
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RM1.26
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ACCUMULATE
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RM1.58
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Group is on a rising trend since it bottomed in August’13
and is currently trading near the upward sloping trend line support, an
attractive level to initiate accumulation of the stock. It is at about 7%
discount to RM1.35, the price that MWE paid for its 22.2% stake in KEuro
which was completed at the end of September’13. Its West Coast Expressway
(WCE) was quoted by the PM as a key project during his Budget 2014 speech.
This would definitely add confidence to the feasibility of WCE and facilitate
the securing of project financing, hence achieving Financial Close as
required by the Concession Agreement – an important catalyst for this stock
performance. The Bandar Rimbayu property launches from its 40% associate,
Radiant Pillar, have received overwhelming response in view of the core
competencies and branding of their JV partner, IJMLand, which will also
enhance the value of Bandar Rimbayu (total GDV estimated at RM10b).
KEuro has an RNAV of RM2.24, a 30% discount to RNAV will value the
stock at RM1.58, a decent return of 25% return from current price. Accumulate
(PT)
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CARLSBG(2836)
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28/10/2013
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RM12.46
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Trading BUY
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RM15.00
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Company will see a relief rally as there were no further
increase in excise duties (sin taxes) in Budget 2014. Carlsberg dropped from
a recent high of RM15.06 on the back of this fear to a low of RM12.16. Last
Friday, saw the first day of rebound and it is likely the stock may retrace
to its gap down level at RM13.68 – 13.78, which is incidentally close to it
50% retracement of this down move. Excise duties on alcoholic beverages may also
not increase in the near future because of Visit Malaysia Year (VMY) 2014 as
any increase will be counterproductive to efforts to attract tourists to
Malaysia. On the other hand, Carlsberg may benefit from VMY as the expected
higher tourist arrivals will provide a fillip to its sales volume.
Trading buy
(PT)
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Calls for OCT 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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UEMS (5148)
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21/10/2013
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RM2.51
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ACCUMULATE
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RM3.22
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RM2.60
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+3.5%
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MRCB (1651)
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21/10/2013
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RM1.46
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ACCUMULATE
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RM1.70
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RM1.46
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0.0%
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WEIDA (7111)
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22/10/2013
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RM1.74
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BUY
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RM2.45
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RM1.74
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0.0%
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WCT(9679)
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22/10/2013
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RM2.45
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BUY
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RM3.08
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RM2.44
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-0.5%
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MAXIS (6012)
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23/10/2013
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RM7.21
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TAKE PROFIT
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RM6.70
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RM7.20
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-0.2%
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KULIM (2003)
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23/10/2013
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RM3.27
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ACCUMULATE
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RM3.80
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RM3.31
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+1.2%
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ENGTEX(5056)
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24/10/2013
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RM1.60
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BUY on weakness
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RM2.00
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RM1.67
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-4.3%
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FAVCO (7229)
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24/10/2013
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RM2.79
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ACCUMULATE
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RM3.60
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RM2.91
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+4.3%
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BRAHIMS (9474)
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25/10/2013
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RM1.50
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BUY
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RM2.04
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RM1.48
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-1.2%
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GLOMAC(5020)
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25/10/2013
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RM1.19
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Trading BUY
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RM1.45
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RM1.19
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0.0%
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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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