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FLOWS
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Wednesday, 5 February, 2014
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BUY
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CIMB,
IOIP, MAYBANK
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SELL
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SKPETRO, GENM, IHH
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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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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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CRESBLD (RM1.44) - Undervalued small cap
construction/property player (Mkt Cap: RM230mil). Cresbuilder is expected to
launch Dang Wangi Project in 2Q2014 with GDV of RM1bn while its affordable
homes project Alam Sanjung has seen good take up rate of 70%. Company is
expected to achieve RM400mil sales from Dang Wangi (RM1bn), Batu Tiga-Phase 2
(RM165m). Company is also a proxy to further JV with Prasarana. Upon
completion of UniTapah, company’s recurring revenue is expected to exceed
RM50mil from Tierra Crest, UniTapah and 3 Two Square office. Current
construction orderbook excluding property development stands at RM700mil and
trades at 6.7xFY14PE with P/B 0.58x. MACD showed a wide divergence while the
RSI stood at a 1 year low of 32%. BUY with a TP of RM1.75 based on 20%
discount to SOP valuations.
(RL)
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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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DIGI (RM4.68) – Group posted
better set of results in 2013 the back of continuous improvements in network
quality, larger 3G network footprint and customer base, as well as higher
take-up rate of its mobile internet offerings. Group is expecting another
5~7% growth in topline for 2014. Meanwhile, digi is also aiming to explore
M2M (machine-to-machine) potentials by levering on Telenor Group expertise
with an aim to provide more e-related mobile services. This system also will
provide not only flexibility to Digi in managing subscriptions for solutions
but will also reduce cost to the group. Looking forward, the group is
expected to announce more details regarding its business trust exercise in
first quarter 2014 which may also act as the catalyst for the stock.
Valuations stood at 20x PE for FY14 vs 7 year average of 21.5x. Currently
stock is trading close to its major support of RM4.62. RSI is only36%. Div
yield of 3.6%. Accumulate on weakness.
(RL)
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Calls for JAN Week 4/ 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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AIRPORT (5014)
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24/1/2014
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RM8.90
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ACCUMULATE
on weakness
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RM10.00
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RM8.15
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-8.5%
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PERDANA (7108)
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24/1/2014
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RM1.69
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ACCUMULATE
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RM2.00
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RM1.65
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-2.4%
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CIMB (1023)
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27/1/2014
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RM6.90
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Buy on Weakness
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RM7.40
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RM6.85
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-0.8%
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IOIPG (5249)
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27/1/2014
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RM2.85
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ACCUMULATE
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RM3.30
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RM2.60
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-8.8%
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SURIA (6521)
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28/1/2014
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RM2.25
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ACCUMULATE
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RM2.94
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RM2.40
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+6.6%
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PADINI (7052)
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28/1/2014
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RM1.61
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ACCUMULATE
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RM1.90
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RM1.59
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-1.3%
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SKPETRO (5218)
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29/1/2014
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RM4.31
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ACCUMULATE
on weakness
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RM4.90
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RM4.39
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+1.8%
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ARMADA (5210)
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29/1/2014
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RM4.05
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ACCUMULATE
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RM4.50
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RM4.00
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-0.3%
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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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RM2.20
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+1.8%
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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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RM1.41
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-2.1%
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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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