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FLOWS
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Wednesday, 2 April, 2014
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BUY
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SKPETRO,
NAIM, IOICORP
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SELL
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BAT, CIMB, MISC
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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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THHEAVY (7206)
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2/4/2014
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RM0.92
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Trading BUY
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RM1.05
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Since hitting the high of RM1.05 on 20/2/14,
the stock corrected 17% to RM0.87, within the Rm0.89 – 0.86 strong
support band. Today’s price action saw THHeavy taking out its immediate
resistance at RM0.915 in heavy trading and triggering a buy signal on its
macd. There were also positive newsflow recently on THHeavy as Upstream
Online reported that the company is the sole bidder for the charter of a
FPSO to the JX Nippon Layang Field for 7 years with an option for another 3
years. This contract is conservatively valued to be more than
RM1bn. Having recently doubled the capacity of its Pulau Indah
fabrication yard, THHeavy is a position to bid for bigger fabrication
jobs with its JV partner, McDermott, with a total outstanding tender bid of
RM9bn. It was reported in the media that the THHeavy & McDermott JV
is one of the 3 bidders shortlisted for an EPCC contract from the
Baronia gas project worth up to RM1.5bn. THHeavy has a current order
book of RM400m, a record high for the company since it exits from PN17 in
2011 and trades at FY15 PER of 11.2x. Trading buy
(PT)
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GENM (4715)
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2/4/2014
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RM4.16
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ACCUMULATE
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RM4.60
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Amidst the flux of foreign inflow into the emerging markets, including
Malaysia, GENM stands out as an attractive laggard awaiting its turn for the
funds to rotate into. This is especially pertinent with the strong
performance (up to +9%) of the HK-listed casino names yesterday on convincing
volume. GENM is currently trading at the low end of its trading range, where
the risk:reward is favorable to the investors. For a liquid Malaysian blue
chip with global casino operations and a tourism proxy to Malaysia’s key
Economic Transformation Programme (ETP), valuations remain compelling at
forward PER of 14.3x versus the KLCI’s PER of 16.4x, and is lower than its
historical PER of 15.5x. It also compares favorably against the HK-listed
casinos average PER of 20.2x. Accumulate
(PT)
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Calls for MARCH Week 4 / APRIL 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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HOHUP (5169)
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26/3/2014
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RM1.49
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ACCUMULATE
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RM2.00
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RM1.47
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-1.4%
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PERDANA (7108)
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26/3/2014
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RM1.89
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ACCUMULATE
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RM2.50
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RM1.88
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-0.6%
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MHB (5186)
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27/3/2014
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RM3.72
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ACCUMULATE
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RM4.30
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RM3.79
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+1.8%
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KKB (9466)
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27/3/2014
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RM2.47
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ACCUMULATE
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RM2.75
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RM2.44
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-1.3%
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MSC (5916)
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28/3/2014
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RM3.20
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BUY
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RM3.80
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RM3.39
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+5.9%
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SBCCORP(5207)
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28/3/2014
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RM1.82
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BUY
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RM2.30
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RM1.85
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+1.6%
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PARAMON (1724)
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31/3/2014
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RM1.67
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BUY
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RM2.00
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RM1.65
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-1.2%
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SCOMI (7158)
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31/3/2014
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RM0.435
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ACCUMULATE
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RM0.645
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RM0.445
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+2.2%
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DIGI (6947)
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1/4/2014
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RM5.39
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Take profit
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-
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RM5.36
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-0.6%
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MMCCORP (2194)
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1/4/2014
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RM2.82
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ACCUMULATE
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RM3.20
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RM2.85
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+1.0%
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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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