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FLOWS
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Wednesday, 18 June, 2014
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BUY
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YTL,
PBBANK, CIMB
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SELL
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MAXIS, SIME, 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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BAT (4162)
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18/6/2014
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RM69.24
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SELL
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RM62.00
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Share price has risen over 10% in
the past month with RSI overbought at 89%. We believe BAT has overshot its
fundamentals as it is trading at 22.5xPER vs historical 5 year average of
18.5x. Due to recent price hikes sales volume has been on the decline with
illicit cigarettes surging to 38.9% in Dec. Government’s push for subsidy
rationalisation will see a more cautious spending by consumers. Recently
announced plans to ban all covered areas at the rest and recreation (R&R)
area along expressways and the 23-kilometre stretch of the covered walkway in
the DBKL could be the first move in government’s initiatives to deter
smokers. Sell with TP: RM62 (20x FY15 PER)
(TYK)
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DAYANG (5141)
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18/6/2014
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RM3.51
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ACCUMULATE
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RM4.35
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Share price has retrace back to its
key support level of RM3.45-50. We believe this offers an opportunity to
accumulate as fundamentally company is backed by its RM4bn orderbook with
c.77% contracted till 2018. Earnings in the 2H2014 is expected to pick up
with Shell and Petronas Carigali HUC contracts in full swing. Company has
ample room for expansion as they are in a net cash position. Key focus going
forward could be jobs from the EOR and possible RSC. Accumulate with
TP:RM4.35 (15xFY15 PER)
(TYK)
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Calls for JUNE WEEK 2 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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SKPETRO (5218)
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11/6/2014
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RM4.03
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ACCUMULATE
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RM4.60
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RM4.27
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+5.9%
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AIRPORT (5014)
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11/6/2014
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RM7.61
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BUY
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RM8.45
|
RM7.91
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+3.9%
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PENERGY (5133)
|
12/6/2014
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RM3.03
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SELL
into strength
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-
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RM3.06
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+0.9%
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WCT (9679)
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12/6/2014
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RM2.23
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ACCUMULATE
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RM2.80
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RM2.21
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+0.9%
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SUNSURIA (3743)
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13/6/2014
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RM1.41 / 0.84 (EA)
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ACCUMULATE
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RM1.10 (EA)
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RM1.43
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+1.4%
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PANTECH (5125)
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13/6/2014
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RM1.01
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ACCUMULATE
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RM1.30
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RM1.01
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0.0%
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UEMS (5148)
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16/6/2014
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RM2.07
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ACCUMULATE
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RM2.51
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RM2.09
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+0.0%
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MRCB (1651)
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16/6/2014
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RM1.62
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ACCUMULATE
|
RM1.98
|
RM1.61
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-0.7%
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WASEONG (5142)
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17/6/2014
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RM1.84
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BUY
|
RM2.20
|
RM1.82
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-1.1%
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MAXIS (6012)
|
17/6/2014
|
RM6.75
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TRIM
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-
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RM6.76
|
+0.1%
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Performance
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Positive
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Negative
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Neutral
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