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FLOWS
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Friday, 28 February, 2014
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BUY
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TM,
MAYBANK, TENAGA
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SELL
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DIGI, TENAGA, MRCB
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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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BARAKAH (7251)
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28/2/2014
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RM1.57
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Trading BUY
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RM1.76
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Share price has fallen 17% from high of
RM1.90, with MACD at negative territory but showing signs of turning. 1Q net
profit accounted only 15.7% of consensus due to seasonality with
earnings picking upon mobilisation of KL101 pipelay barge in April for the
Pan Malaysia T&I contract. Orderbook is healthy at RM2.2bn which is
expected to last for next 3 years. Key catalyst will depend on its success in
its tender which is valued at RM3bn. The outcome of Saudi Aramco’s US$1b
contract (comprises of T&I, hook-up commissioning (HUC) and pipeline
commissioning works) is expected to be known in 1Q14. Barakah and its JV
partner are competing with another two contenders for the job. Trading Buy
TP: RM1.76 (15xFY15 PER)
(TYK)
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SILKHLD(5078)
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28/2/2014
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RM0.64
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Trading BUY
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RM0.74
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Share price has fallen 18% from its peak in
early Feb at RM0.78. Next support level is at RM0.63 which is also 38%
retracement from its run up from 38sen to 78sen. Silk currently owns 17 OSV
with 2 more delivery by 2014. This would put them among the top 5 OSV in
Malaysia with age profile of only 4 years old. Earning is expected to grow
15% in JulFYE14 with the new deliveries and recently completed acquisition of
49% stake in 4 OSV. Valuing this division at 15XFYE15 would ascribe 68sen to
the group which is higher than its current share price. Silk also owns the
Silk highway which has turned cash flow positive and expected to report net
profits by 2015 with another 50sen hike in toll rates forecasted for 2015.
Trading Buy with TP: RM0.74
(TYK)
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Calls for FEB Week 2/Week 32014
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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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SEALINK (5145)
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21/2/2014
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RM0.445
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BUY
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RM0.55
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RM0.43
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-3.3%
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PENERGY (5133)
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21/2/2014
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RM2.34
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ACCUMULATE
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RM2.70
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RM2.31
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+1.3%
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KIMLUN (5171)
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24/2/2014
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RM1.59
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ACCUMULATE
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RM1.96
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RM1.59
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+0.0%
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TSH (9059)
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24/2/2014
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RM3.00
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ACCUMULATE
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RM3.60
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RM3.00
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0.0%
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GTRONIC (7022)
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25/2/2014
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RM3.28
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ACCUMULATE
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RM4.00
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RM3.25
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-1.0%
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TDM (2054)
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25/2/2014
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RM0.94
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ACCUMULATE
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RM1.50
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RM0.925
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-1.6%
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DRBHICOM (1619)
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26/2/2014
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RM2.68
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ACCUMULATE
on weakness
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RM2.95
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RM2.60
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-3.0%
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IRCB
(2127)
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26/2/2014
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RM0.375
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Trading BUY
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RM0.55
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RM0.375
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+0.0%
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KSL (5038)
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27/2/2014
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RM2.14
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ACCUMULATE
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RM2.80
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RM2.13
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-0.5%
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MAYBULK (5077)
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27/2/2014
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RM2.14
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SELL
into Strength
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RM1.80
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RM2.10
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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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