FLOWS
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Monday, 18 August, 2014
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BUY
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SKPETRO,
CIMB, WCT
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SELL
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AXIATA, MAYBANK,
TENAGA
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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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UMWOG (5243)
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18/8/2014
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RM4.05
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ACCUMULATE
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RM4.53
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The
stock is currently trading close to its support level of RM4. We are
encouraged by the fact that construction schedules for Naga 6 & 7 are
intact, and that management in now bidding for c25 contracts worth a total of
US 2.2b. We remain positive on the robust jack-up rig tendering market in
Southeast Asia. Management has also set its focus beyond Southeast Asia,
where it has stamped a strong presence. Given the shortage of jack-up rigs in
the region, group is in a position to choose its contracts. Catalyst ahead
include it’s aggressive fleet expansion, early deliveries, strong management
and a larger than expected market appetite for Syariah compliant O&G big
caps. Trading at 20.5x FY15, well within the historical PE range of O&G
big caps (of c 24x), RSI @ 43 and MACD has just cut upwards; Accumulate ( TP
RM4.53, based on 23x FY15 ).
(AK)
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PRESBHD (5204)
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18/8/2014
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RM2.25
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ACCUMULATE
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RM2.70
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The share price has consolidated downwards from mid
July following concerns over stretched valuations. The group recently
completed its private placement of 44m shares @ RM1.74, which raised RM76m
cash. Together with its cash position of cRM60m, cash holding should have
risen to about RM136m or RM0.28/share. The company has yet to state what new
business it is planning to use the funds for, although management has
indicated that it is keen to grow it’s recurring income business. We expect
their plan to be unveiled by end 3Q2014. Prestariang is also looking to bring
in a new shareholder into UniMY to help boost its student numbers and
hopefully break even this year. We continue to like the group for its
committed management, sturdy B/S, decent dividend yield and potential
diversification into a recurring earnings model. Newsflow should be positive
over the next few months as group is expected to announce more details on its
proposed projects. Currently trading at 18x FY15 ; Trading Buy.
(AK)
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Calls for AUGUST WEEK 1/ 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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PERDANA (7108)
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8/8/2014
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RM1.86
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ACCUMULATE
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RM2.40
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RM1.84
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-1.1%
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DSONIC (5216)
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8/8/2014
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RM1.86
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TRADING BUY
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RM2.05
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RM1.96
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+5.3%
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DIALOG (7277)
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12/8/2014
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RM1.76
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ACCUMULATE
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RM2.00
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RM1.78
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+1.1%
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SALCON (8567)
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12/8/2014
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RM0.885
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ACCUMULATE
on weakness
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RM1.00
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RM0.885
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0.0%
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SEM (5250)
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13/8/2014
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RM1.82
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TRIM
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BB- RM1.60
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RM1.83
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+0.5%
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CARING (5245)
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13/8/2014
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RM1.84
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Buy on weakness
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RM2.00
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RM1.86
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+1.0%
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IOICORP (1961)
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14/8/2014
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RM5.00
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TRADING SELL
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BB- RM4.40
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RM5.01
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+0.2%
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SYMLIFE (1538)
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14/8/2014
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RM1.12
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ACCUMULATE
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RM1.60
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RM1.15
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+2.6%
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WTK (4243)
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15/8/2014
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RM1.40
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ACCUMULATE
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RM1.60
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RM1.40
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0.0%
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AIRASIA(5099)
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15/8/2014
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RM2.36
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ACCUMULATE
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RM2.70
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RM2.37
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-0.4%
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Performance
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Positive
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Negative
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Neutral
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