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FLOWS
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Tuesday, 20 May, 2014
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BUY
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SIME,
BRAHIMS, AIRASIA
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SELL
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DIGI, TCHONG, BAT
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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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COASTAL (5071)
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20/5/2014
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RM4.74
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ACCUMULATE
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RM5.94
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Recent pullback from RM5 levels
offers an opportunity to accumulate in Coastal as it only trades at 12.3x
FY14 and 10.58xFY15 PER. COASTAL's maiden jack-up rig is due to be delivered
in mid-14, which will spearhead the company’s move into an asset-ownership
model. Earnings will further be boosted in FY15 by its long-term jack-up rig
compression unit that is earmarked for Mexico. Immediate re-rating catalyst
is expected when company bags a contract for its jackup rig. Shipbuilding
orderbook is also on record highs of RM1.2bn that is expected to last till
next year. Accumulate with TP: RM5.94 (14xFY15)
(TYK)
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PERDANA (7108)
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20/5/2014
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RM1.73
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ACCUMULATE
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RM2.25
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Share price has retraced 13.5% from
its high of RM2.00. We believe share price should see support around the
RM1.70 level and advocate an accumulation call on the stock as its earnings
growth for next few years are locked in with 65% of vessels on long term
charter while utilisation stands at 84%. Average fleet age is merely 4years
old. Management is emphasing now on EOR-related jobs where Petronas & its
PSC partners are budgeting to spend RM30b over the next 30 years. Trades at
attractive valuation of 11.5xFY15 PER. Accumulate with TP: RM2.25 (15xFY15)
(TYK)
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Calls for MAY WEEK 2/ WEEK 3 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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MAYBULK (5077)
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12/5/2014
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RM1.80
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BUY
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RM2.23
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RM1.89
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+5.0%
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BENALEC (5190)
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12/5/2014
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RM0.965
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TRADING BUY
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RM1.10
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RM1.15
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+19.1%
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WPRTS (5246)
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14/5/2014
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RM2.85
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SELL
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-
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RM2.75
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+3.6%
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FAVCO (7229)
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14/5/2014
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RM3.36
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TRADING BUY
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RM3.70
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RM3.53
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+5.0%
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OCK (0172)
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15/5/2014
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RM1.42
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TRADING BUY
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RM1.70
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RM1.44
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+1.4%
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TDM (2054)
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15/5/2014
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RM1.00
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TRADING BUY
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RM1.20
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RM1.00
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0.0%
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SPSETIA (8664)
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16/5/2014
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RM2.97
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ACCUMULATE
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RM3.50
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RM2.96
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-0.4%
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PRESBHD (5204)
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16/5/2014
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RM1.91
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ACCUMULATE
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RM 2.20
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RM2.02
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+5.7%
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YINSON (7293)
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19/5/2014
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RM4.90
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BUY
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RM5.50
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RM4.73
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-3.5%
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IOICORP (1961)
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19/5/2014
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RM5.30
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TAKE PROFIT
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RM4.90
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RM5.29
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-0.2%
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Given that our call initiated on the 12 MAY 2014 to buy BENALEC (5190)
has achieved our target of RM1.10,
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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