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FLOWS
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Friday, 4 April, 2014
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BUY
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PBBANK,
UEMS, CIMB
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SELL
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DIGI, UMW, ASTRO
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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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PANTECH (5125)
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4/4/2014
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RM0.895
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BUY
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RM1.26
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PANTECH (RM0.895) –Prior to the approval
of RAPID worth RM60bn project, we believe that Pantech is well positioned to
benefit from this as they are reputable one-stop pipes, fittings and flow
controls solution provider in the country. Stock has been a laggard amongst
the RAPID beneficiaries (DIALOG, MUHI, GADANG, SKPETRO etc.) which picked up
on momentum yesterday. Share price has built a based around the RM0.885 and
poses limited downside. At current price, stock is trading at undemanding
multiple of 8.5x for FY15 and only 6.8x for FY15. Pantech also has a div
yield of 5.0% for FY15. Currently stock’s share price consolidated well at
the RM0.90 support and poses limited downside. Buy with a TP of RM1.26
based on 12x PE
(RL)
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GADANG (9261)
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4/4/2014
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RM1.21
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ACCUMULATE
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RM1.80
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Group’s outlook remain compelling as the
group has secured OB of RM1.6bn where half of it coming from KVMRT2. Other
than that, Gadang has positioned themselves for a RM6bn worth of tenderbooks
including works from WCE, DASH, TRX, PR1MA and RAPID. The group’s most recent
catalyst will be the announcement of RAPID’s FID where they are favourites to
clinch RM300mil worth of earth works jobs in Pengerang (Rapid phase 1 earth
works). At current prices, Gadang is only trading at 6.0x PE for FY15 and
5.5x for FY16. Group also Pays a dividend of 5%. Given its solid
fundamentals, healthy cash balance (RM0.26 cents/share), and growth story. We
believe the stock deserves to be trading at a higher valuation. TP of RM1.80
based on 9x PE for FY15.
(RL)
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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
|
TARGET PRICE
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LAST PRICE
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% Change
since Initiated
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MSC (5916)
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28/3/2014
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RM3.20
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BUY
|
RM3.80
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RM3.41
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+6.5%
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SBCCORP(5207)
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28/3/2014
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RM1.82
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BUY
|
RM2.30
|
RM1.87
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+2.7%
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PARAMON (1724)
|
31/3/2014
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RM1.67
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BUY
|
RM2.00
|
RM1.66
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-0.6%
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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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RM0.455
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+4.5%
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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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RM5.33
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-1.2%
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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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RM2.87
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+1.4%
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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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RM0.91
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-1.1%
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GENM (4715)
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2/4/2014
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RM4.16
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ACCUMULATE
|
RM4.60
|
RM4.22
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+1.4%
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BARAKAH (7251)
|
3/4/2014
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RM1.56
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Trading BUY
|
RM2.20
|
RM1.55
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-0.7%
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TAANN (5012)
|
3/4/2014
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RM4.20
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ACCUMULATE
|
RM4.80
|
RM4.20
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+0.0%
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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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