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FLOWS
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Thursday, November 07, 2013
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BUY
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GENTING, TM, PERDANA
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SELL
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TENAGA, SIME, AXIATA
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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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GAMUDA (5398)
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7/11/2013
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RM4.82
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BUY on weakness
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RM5.30
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Besides being the best proxy to public infrastructure capex in
Malaysia (i.e Tunneling job & PDP appointment for MRT2), recent
development saw the group planning to buying out the remain 70% stake of
Kesas which will raise the group’s RNAV by c.5% and EPS by approximately 10
-15% which would mitigate risks of an EPS decline from the divestment of
SPLASH. Furthermore, the group’s also expected to pay a special div from the
monetisation of SPLASH indicating a yield of almost 9% for the year. At this
price stock is trading at only 15x PE for FY14 and 13x for FY15 vs 7-year
average of 21x. We continue to like Gamuda for its growth prospects as well
healthy fundamentals. We’re reiterating a Buy on weakness at support RM4.81
(MA 25) and RM4.70 (MA100).
(RL)
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DIALOG (7277)
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7/11/2013
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RM2.74
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ACCUMULATE
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RM3.30
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2014 will be an impressive year for group as their
Pengerang project, Dialog’s phase 1 of its 3rd terminal is already
77% complete as of September and would be fully operation by 1QCY14 which
would contribute a new stream of revenue as well as net profit high in FY14.
FY14 will also see the start of the development programme at the Balai
cluster of marginal fields after the completion of pre-development works in
FY13. Dialog is also working on an enhanced oil recovery project at the Bayan
field. Beyond Balai, Dialog remains on the lookout for more RSC
opportunities. Currently share price is trading at 22x FY 14PE, MACD turning
up, RSI stabilized at 50%, price well supported at RM2.69, and
yesterday’s crossing of 14.8mil @ RM2.7364 would serve as a base for the
price. BUY with a TP of RM3.30 based on its 7 year average of 27x.
(RL)
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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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IJM (3336)
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30/10/2013
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RM5.84
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ACCUMULATE
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RM6.70
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RM5.80
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-0.7%
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UOADEV (5200)
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30/10/2013
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RM2.22
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BUY
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RM2.68
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RM2.18
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-2.0%
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GTRONIC (7022)
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31/10/2013
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RM3.00
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ACCUMULATE
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RM3.50
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RM3.05
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+1.6%
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HUAYANG (5062)
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31/10/2013
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RM2.11
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BUY
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RM2.62
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RM2.11
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0.0%
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AIRASIA (5099)
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1/11/2013
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RM2.68
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ACCUMULATE
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RM3.50
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RM2.63
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-1.9%
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COASTAL (5071)
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1/11/2013
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RM3.51
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TAKE PROFIT
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-
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RM3.47
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-1.2%
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ARMADA (5210)
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4/11/2013
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RM3.97
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ACCUMULATE
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RM4.50
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RM3.95
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-0.6%
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HARTA (5168)
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4/11/2013
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RM7.23
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TAKE PROFIT
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RM6.50
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RM7.28
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+0.6%
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JTIASA (4383)
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6/11/2013
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RM2.28
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SELL
into Strength
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RM2.07
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RM2.28
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0.0%
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TUNEINS (5230)
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6/11/2013
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RM1.84
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ACCUMULATE
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RM2.20
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RM1.84
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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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