FLOWS
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Thursday, 17 April, 2014
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BUY
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KNM,SKPETRO,
HUAYANG
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SELL
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CIMB, GENTING, SIME
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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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MAHSING (8583)
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17/4/2014
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RM2.29
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Accumulate
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RM2.69
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Share
price is underperforming its peers only gaining 1.3% YTD. Technically share
price have broken above its downtrend and currently sits above the 200MA.
Weekly MACD just cut up in April. Fundamentally Mahsing earning will be
supported by its unbilled sales of RM4.4bn which is 2.6x 2013 revenue. In
FY14, company is targeting a 20% growth in sales with focus on
affordable/township developments with estimated 70% priced below the RM700/k
level. Launches will include Southville City@ KL South and D’sara Sentral.
Recent acquisition has also bumped up its undeveloped landbank’s GDV to a
respectable RM29bn. Trades at 8.5xFY15PE with decent yield of 4.7%.
Accumulate with TP: RM2.69 (10xFY15PE) (YK)
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TIMECOM (5031)
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17/4/2014
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RM4.65
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SELL into Strength
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RM4.20
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Company’s participation in a consortium to build
a new submarine cable system that will link Asia and Europe via the Middle
East bode well for the future. However we believe share price has overshot
its fundamentals with RSI at 88%. Earnings growth projection is only at circa
4-5% for next 2 years with domestic wholesale bandwidth competition remaining
tough with TM’s aggressive pricing. Digi which forms around 30% of TIMECOM
valuation are also trading near its peak. We advocate a Sell into Strength
with buy back levels RM4.20 (YK)
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Calls for APRIL Week 1/ Week 2 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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PMETAL (8869)
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10/4/2014
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RM2.50
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BUY
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RM3.10
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RM3.38
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+35.2%
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WCT (9679)
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10/4/2014
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RM2.25
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TRADING BUY
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RM2.50
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RM2.23
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-0.9%
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MUDAJYA (5085)
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11/4/2014
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RM2.83
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BUY
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RM3.56
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RM2.79
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-1.4%
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HSL (6238)
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11/4/2014
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RM1.80
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ACCUMULATE
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RM2.50
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RM1.82
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+1.1%
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SKPETRO (5218)
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14/4/2014
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RM4.35
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BUY
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RM4.80
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RM4.27
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-1.8%
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ASTRO (6399)
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14/4/2014
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RM3.35
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Sell Into Strength
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-
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RM3.28
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-2.0%
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NAIM (5073)
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15/4/2014
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RM3.83
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BUY
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RM4.40
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RM4.08
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+6.5%
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GOB (1147)
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15/4/2014
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RM0.91
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BUY
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RM1.18
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RM1.06
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+16.5%
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CRESNDO (6718)
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16/4/2014
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RM3.06
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BUY
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RM3.60
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RM3.10
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+1.3%
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TIME (4456)
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16/4/2014
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RM0.27
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Trading BUY
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RM0.38
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RM0.29
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+7.4%
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Given that our call initiated on the 10 April 2014 to buy PMETAL
(8869) has achieved our target of RM3.10,
we advocate a take
profit on the stock.
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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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