FLOWS
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Tuesday, 11 February, 2014
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BUY
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GENM,
CIMB, SKPETRO
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SELL
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DIGI, AXIATA, TENAGA
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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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SCOMIES (7045)
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11/2/2014
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RM0.90
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BUY
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RM1.01
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Share has been slowly trading back up to the area near its recent high
of 93.5 sen at January 15th. In the month of January alone, SES
has been awarded two contracts in Myanmar worth a combined RM90m by Petronas,
a RM75m contract from Virginia Indonesia Company (Vico) to provide solids
control equipment and environmental handing services for the duration of 3
years, and its oilfield services unit, Scomi Oiltools Sdn Bhd, has partnered
with Handal Resources to supply modular workover rig, offshore pedestal
cranes and related services in Africa and Middle East. The outstanding
orderbook of the company currently standing at RM5.3bn. Chart is turning
bullish as MACD has just crossed the signal line. Currently, SES is trading
at 14x FY 15 P/E versus UMW Oil and Gas at 23x FY 15 P/E. We expect the high
UMW O&G valuation would drive up the P/E multiple of other drilling
related stocks such as SES. Buy call with a TP of its recent high of
RM1.01.
(KESTER)
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MATRIX (5236)
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11/2/2014
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RM3.57
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BUY
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RM3.90
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Share price has been consolidating at the 3.60 level for the past two
weeks. RSI level is at 36%. Fundamentally, the stock’s key catalysts this
year will be the acquisition of new land to extend Sedayan Tech Valley (STV).
The new land is intended to not only sustain sales of industrial land, but
more importantly, to boost job opportunities and hence, create spillover
demand for properties in Bandar Sri Sedayan (BSS). In addition,
completion of the Tentera Udara Diraja Malaysia (TUDM) complex, new Seremban
Toll and new link to KLIA in 2-3 years’ time will expand the population
catchment and improve accessibility to BSS/STV. Last but not least, the
company’s gross margin of about 40% is above the sector’s 20-25% average. The
low land cost of MYR3 psf (gross) for BSS and MYR9 psf (including infra) for
STV will sustain such lofty margins going forward. Currently the stock is
trading at an undemanding valuation of 6.6x FY14 PE. Buy with the aim
of stock price retesting the high at 3.90 level.
(KESTER)
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Calls for FEB Week 1 2014
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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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CYPARK (5184)
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4/2/2014
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RM2.16
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ACCUMULATE
on weakness
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RM2.50
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RM2.30
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+6.4%
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ALAM (5115)
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4/2/2014
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RM1.44
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ACCUMULATE
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RM1.60
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RM1.53
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+6.25%
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CRESBLD(8591)
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5/2/2014
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RM1.44
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BUY
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RM1.73
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RM1.49
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+3.4%
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DIGI (6947)
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5/2/2014
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RM4.68
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ACCUMULATE
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RM5.20
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RM5.00
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+6.8%
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UOADEV (5200)
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6/2/2014
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RM1.83
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Trading BUY
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RM2.20
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RM1.90
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+3.8%
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AEON (6599)
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6/2/2014
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RM11.86
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ACCUMULATE
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RM13.30
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RM13.00
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+9.6%
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SPSETIA (8664)
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7/2/2014
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RM2.74
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Trading BUY
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RM3.30
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RM2.76
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+0.6%
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NAIM (5073)
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7/2/2014
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RM3.41
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ACCUMULATE
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RM3.80
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RM3.52
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+3.2%
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OLDTOWN (5201)
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10/2/2014
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RM2.01
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Trading BUY
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RM2.38
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RM2.00
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-0.5%
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TCHONG(4405)
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10/2/2014
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RM5.60
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ACCUMULATE
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RM7.31
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RM5.58
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-0.9%
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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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