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FLOWS
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Monday, 31 March, 2014
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BUY
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GASMSIA,
SKPETRO, ARMADA
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SELL
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TM, KLK, MAYBANK
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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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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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Company has steadily built up its landbank
with estimated GDV at RM8bn which is 14x its market cap. Company is also a
proxy to the Penang mainland with estimated RM2bn outstanding. Since 2011,
company went from net cash to net debt of 28% as company geared up to expand
its education portfolio by building a state de art Campus for KDU in
Glenmarie. Campus which cost RM320mil is expected to accommodate up to 7,000
students and potentially double its current earnings from Education of around
RM20mil. Assuming RM40mil net profit, company could go for separate listing
with valuation comparable to Paramount’s overall market cap of only RM564mil.
Recent land acquisition in Batu Kawan will adopt similar concept in
Utropolis, Glenmarie and further expand both its division. With a dividend
yield of 5% we rate it’s a Buy for its defensive qualities and proxy to the
Penang property play. RNAV is RM4.18. Buy with TP: RM2.00 (4% yield and 50%
RNAV)
(TYK)
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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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SCOMI (RM0.435): Currently trades at a
steep 60% discount to sum of part of its 2 subsidiaries (65.64% of Scomies
& 72.33% of ScomiEng). Share price has consolidated very well around the
0.435 level after clearing 0.40 level in February. A decisive breakout from
45sen could see share price reach the RM0.60 to RM0.70 level. Indian rupees
and Brazilian Real has been improving since Dec hence we are expecting
ScomiEng to show improvement in earnings. They are expected to complete phase
1 of Mumbai Monorail, Train delivery of KL project by 1Q. Scomies are among
the front runners to bag a RSC as well. Accumulate with TP: RM0.645 (40%
discount)
(TYK)
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Calls for MARCH 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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GENTING (3182)
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24/3/2014
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RM9.60
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ACCUMULATE
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RM10.50
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RM9.97
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+3.8%
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KPS (5843)
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24/3/2014
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RM1.63
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ACCUMULATE
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RM2.00
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RM1.61
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-1.3%
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BENALEC (5190)
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25/3/2014
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RM0.925
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ACCUMULATE
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RM1.15
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RM0.90
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-2.8%
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WASEONG(5142)
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25/3/2014
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RM1.88
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ACCUMULATE
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RM2.00
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RM1.90
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+1.0%
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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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RM1.48
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+0.7%
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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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RM1.89
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0.0%
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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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RM3.71
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-0.3%
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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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RM2.47
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0.0%
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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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RM3.22
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+0.6%
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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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RM1.83
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+0.5%
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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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