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FLOWS
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Monday, 7 October, 2013
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BUY
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AFFIN, GAMUDA, PERDANA
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SELL
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DIALOG, IJM, IOICORP
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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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CIMB (1023)
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7/10/2013
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RM7.44
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Trading BUY
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RM8.40
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Since 20th Sept share
price has retraced 7% from RM8.00 and consolidated well during intraday at
RM7.40 level for past 2 days. CIMB was one of the worse hit by recent foreign
selling which has seen its foreign holding falling to 37.9% end of August
which is the worse since Feb 2012. However given Fed Reserve decision to
delay tapering of its bond buying program, funds flows are showing signs of
reversal with USDRM close to its recent low of RM3.15. Despite fears of cut
back in Budget 2014, high multiplier projects such as MRT2&3, double
tracking and RAPID is expected to remain intact with possibly no curb on the
property sector following BNM governor assurances in recent interviews.
Financials also has a tendency to rally during the budget month for past 3
years. Trading Buy with TP: RM8.40 (2xFY13 BV, 12.5xFY14 PER)
(TYK)
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PENERGY (5133)
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7/10/2013
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RM2.06
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BUY
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RM2.50
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Share price currently sits at its
strong support neckline of RM2.04. This is a good level to accumulate as
company’s earnings is expected to pick up in 2H2013 following contracts won in
the HUCC this year that has resulted in healthy orderbook of RM3bn. Company
has completed the purchase of 51% in Bumi Subsea which is a tie up with
Bourbon France. This venture is in the business of underwater inspection,
repair and maintenance (IRM) with tender for RM1.2bn – 1.5bn up for grabs by
end of the year. More catalyst will come in the form of success in securing
more RSC projects and hitting first oil for its RSC that is guided for this
quarter. Buy with TP: RM2.50 (15xFY14 PER)
(TYK)
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Calls for SEPT Week 4/ OCT Week 1
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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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COASTAL (5071)
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30/9/2013
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RM2.91
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BUY
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RM3.43
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RM2.90
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-0.4%
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ALAM (5115)
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30/9/2013
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RM1.45
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BUY
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RM1.80
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RM1.49
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+2.6%
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BAT (4162)
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1/10/2013
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RM64.20
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Take Profit
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RM59.70
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RM63.36
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-1.4%
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DIALOG (7277)
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1/10/2013
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RM2.54
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ACCUMULATE
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RM2.90
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RM2.62
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+3.1%
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LBS (5789)
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2/10/2013
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RM1.77
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BUY on weakness
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RM2.20
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RM1.86
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+5.0%
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PERISAI (0047)
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2/10/2013
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RM1.30
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ACCUMULATE
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RM1.66
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RM1.29
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-0.8%
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MAYBULK (5077)
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3/10/2013
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RM1.83
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SELL
into strength
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RM1.55
- RM1.65
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RM1.84
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+0.3%
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GADANG (9261)
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3/10/2013
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RM0.825
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BUY on weakness
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RM1.30
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RM0.825
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0.0%
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E&O (3417)
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4/10/2013
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RM2.01
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ACCUMULATE
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RM2.30
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RM2.02
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+0.5%
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INARI (0166)
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4/10/2013
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RM1.11
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Take Profit
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<RM1.00
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RM1.09
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-1.9%
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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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