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FLOWS
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Monday, 28 April, 2014
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BUY
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TM,
SKPETRO, AIRASIA
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SELL
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DIGI, IOIP, GENM
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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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IOIGP (5249)
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28/4/2014
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RM2.69
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BUY
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RM3.40
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Share price has hit its key support
line of RM2.69 and has retraced 7.5% from its recent high of RM2.91 in early
April. We believe this is a good level to accumulate ahead of IOIP inclusion
as a shariah compliant stock on the upcoming updated SC list come 31st May.
Fundamentally, company is the largest landbank with total GDV of RM100bn
which implies a GDV/market cap ratio of 12x. Futhermore IOIPG’s
projects are focused on township development which is more resilient to any
property slowdown. IOIP has strong project launches, including 16 Sierra
(GDV: RM561mn), IOI Rio City Serviced Apartment (GDV: MR652mn), Le Pavillion
@ Bandar Puteri (GDV: RM394mn), the Skyz Residences @ Bandar Puchong Jaya
(GDV: RM677mn). Unbilled sales stood at RM1.2bn as at Dec-13. Trades at about
10xCY15 PER and 0.78xP/B. Accumulate with TP: RM3.40 (40% disc to RNAV of
RM5.67).
(TYK)
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IGB (1597)
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28/4/2014
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RM2.75
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ACCUMULATE
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RM3.20
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Despite uncertainties in the
property market share price of IGB hit a new all time high of RM2.78 on
Friday back by heavy share buybacks and buying in the market by major
shareholders. Weekly MACD has just cut up recently. IGB’s earning profile is
rather stable with almost 84% of its EBIT contributed from its Property
investment and Hotel division. Catalyst for IGB includes approval for its
18acres prime land in Iskandar by end of the year valued at RM2bn while
future growth in investment properties will be boosted upon completion of
Southpoint, Midvalley (end 2015) and Mid Valley Southkey, Johor (2016). IGB
international School will open in 2H2014 while other new hotels including
Cititel Express (Penang), St Giles Hotel (Penang) and Cititel Express (Ipoh)
will be completed in 1-2years time. Separate listing of its Office or Hotel
portfolio will help unlock its intrinsic value. Accumulate with TP: RM3.20
(TYK)
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Calls for APRIL Week 3/Week 4 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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MTDACPI (5924)
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21/4/2014
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RM0.505
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Trading BUY
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RM0.80
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RM0.48
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-5.0%
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FABER (1368)
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21/4/2014
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RM2.70
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BUY
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RM3.13
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RM3.03
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+12.2%
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UMWOG(5243)
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22/4/2014
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RM3.90
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ACCUMULATE
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RM4.40
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RM4.08
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+4.6%
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YEELEE(5584)
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22/4/2014
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RM1.90
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SELL
into Strength
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-
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RM1.86
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-2.2%
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AIRASIA (5099)
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23/4/2014
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RM2.30
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BUY
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RM3.10
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RM2.25
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-2.2%
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GADANG (9261)
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23/4/2014
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RM1.84
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Take Profit
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RM1.43 BB
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RM1.88
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+2.1%
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KKB (9466)
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24/4/2014
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RM2.58
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BUY
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RM2.80
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RM2.60
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+0.7%
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PERDANA (7108)
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24/4/2014
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RM1.91
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BUY
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RM2.30
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RM1.90
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-0.6%
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MAYBANK (1155)
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25/4/2014
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RM9.96
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Switch > RHBCAP
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-
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RM9.95
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-0.2%
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PERISAI (0047)
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25/4/2014
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RM1.63
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BUY
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RM1.88
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RM1.59
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-2.5%
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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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