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FLOWS
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Friday, 30 May, 2014
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BUY
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PBBANK,
SIME, PCHEM
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SELL
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DIGI, MAYBANK, 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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MUHIBBAH (5703)
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30/5/2014
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RM2.79
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BUY
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RM3.20
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Share price has found support and bounced from a low of RM2.62 ever since
it started to drop after reaching a high of RM3.04. Technical is encouraging
with MACD on the verge of cutting up and RSI being neutral at 46%. The
catalysts for the group in the near term include, firstly the RM60b RAPID
project which is soon to be awarded as the group has strong presence and good
track record with the project owner, Petronas. Apart from that, Muhibah is
also one of the beneficiaries of the RM6b West Coast Expressway (WCE) project
which is expected to materialize soon in the 2Q14. Last but not least,
Muhibah also benefits from greater passenger growth in the Myanmar and Cambodian airports as
the group plays a major role in the airport concession and construction works
in these countries. Total current order book stands at RM2b, comprising of
construction, crane and shipyard divisions. This will keep Muhibah busy until
2016. Trades at PER of 10x and 9.2x for FY14 & FY15. Buy with
SOP-based FV of RM3.20.
(KL)
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ASTRO (6399)
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30/5/2014
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RM3.47
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SELL into Strength
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-
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Share price has gained more than 15% year to date and has exceeded the
target price set by majority of the brokerage houses. The recent rally on the
share price may be associated with the management’s proposal of buying back
up to 10% of the company issued and paid up capital. Apart from the
management proposal, there are lacks of catalysts to propel the stock higher
in the near term. Astro is currently trading at heft valuations of 37x PE,
offers single digit CAGR growth with a dividend payout of 2.8%. Although
Astro is known for its ability to drive average-revenue-per-user (ARPU)
through value-added services and to raise dividends as its earnings improve
from FY15, its positives are already reflected in its price and it faces a
challenging operating environment. Advocate Sell into Strength.
(KL)
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Calls for MAY 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
|
TARGET PRICE
|
LAST PRICE
|
% Change
since Initiated
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BRAHIMS (9474)
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23/5/2014
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RM1.95
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TRADING BUY
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RM2.25
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RM1.77
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-9.3%
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ENGTEX (5056)
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23/5/2014
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RM1.85
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ACCUMULATE
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RM2.60
|
RM1.87
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+1.0%
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SBCCORP (5207)
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26/5/2014
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RM2.09
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TRADING BUY
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RM2.91
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RM2.23
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+6.6%
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TAANN(5012)
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26/5/2014
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RM4.23
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ACCUMULATE
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RM5.00
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RM4.30
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+1.6%
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THHEAVY (7206)
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27/5/2014
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RM0.895
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ACCUMULATE
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RM1.20
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RM0.895
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0.0%
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SALCON (8567)
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27/5/2014
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RM0.765
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ACCUMULATE
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RM0.855
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RM0.80
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+4.5%
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MISC (3816)
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28/5/2014
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RM6.19
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ACCUMULATE
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RM6.80
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RM6.23
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+0.6%
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AFG(2488)
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28/5/2014
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RM4.74
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SELL
into strength
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-
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RM4.88
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+2.9%
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KIMLUN (5171)
|
29/5/2014
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RM1.56
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ACCUMULATE
|
RM1.90
|
RM1.58
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+1.2%
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ARMADA (5210)
|
29/5/2014
|
RM3.64
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ACCUMULATE
|
RM4.32
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RM3.69
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+1.3%
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Performance
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Positive
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Negative
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Neutral
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