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FLOWS
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Friday, 8 August, 2014
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BUY
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YTLPWR,
TENAGA, WCT
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SELL
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GENM, MAYBANK, DIGI
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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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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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We advocate an
“accumulate” on the stock as the share price continue to build a strong base
just above the 100MA with the Bollinger band looking to consolidate around
these levels. While the group’s fundamental continue to improve operationally
since its turnaround in FY13, we continue to like the Perdana for its young
feet (4.5year avg) and utilization over 80% which would provide a better
earnings visibility moving forward. Recent shift to bid of EOR-related
jobs where Petronas & its PSC partners are budgeting to spend RM30b over
the next 30 years will also provide better stability. It is currently bidding
to supply vessel (exp to be delivered by Oct ‘14) to a Shell EOR job (St
Joseph’s) where award is expected by 2H14. P/E remains attractive FY15
& FY16 PER of 12x & 11x pegged with a 63% CAGR for the next 2 years.
Accumulate with an initial TP of RM2.40 based on 14x for FY16.
(RL)
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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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Datasonic had recently proposed to acquire
30% of Fuelsubs House SB for RM10mil after the latter secured the mandate to
manage the national fuel subsidy program. This catalyst is in line with the
group’s intention to integrate the new multi-tier fuel price scheme
(potentially be implemented by as soon as Sept) with the existing MyKad
platform that would help save the government as much as RM9.8bil per annum if
it materializes. Other projects in the pipeline includes the health care
initiative where the group look to tag patients’ health records to their
MyKad as well as the installation of CCTV’s in the country in aims to improve
the well-being of the country. We feel that the group has a good chance of
securing this government projects given the success in implementing the
recent MyKad. Share price has fallen 9.3% from its recent high (RM2.05) and
is currently trading at its 100days MA. Technical indicators are ripe for a
rebound as the MACD is turning up to make a golden cross. Trading BUY with a
technical TP of RM2.05 pending announcement.
(RL)
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Calls for AUGUST 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
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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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1/8/2014
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RM1.76
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ACCUMULATE
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RM2.20
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RM1.77
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+0.5%
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DESTINI (7212)
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1/8/2014
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RM0.705
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Trading BUY
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RM0.86
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RM0.68
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-3.6%
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PESTECH (5219)
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4/8/2014
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RM3.80
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Trading BUY
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RM4.40
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RM3.78
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-0.6%
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TDM (2054)
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4/8/2014
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RM0.985
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ACCUMULATE
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RM1.10
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RM0.985
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0.0%
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KIANJOO (3522)
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5/8/2014
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RM3.06
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ACCUMULATE
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RM3.30
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RM3.06
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0.0%
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HIAPTEK (5072)
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5/8/2014
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RM0.77
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BUY
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RM0.90
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RM0.775
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+0.7%
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CYPARK (5184)
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6/8/2014
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RM2.71
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BUY
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RM3.20
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RM2.69
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-0.8%
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CMSB (2852)
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6/8/2014
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RM3.95
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SELL
into strength
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RM3.50
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RM3.85
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0.0%
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PRTASCO(5070)
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7/8/2014
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RM1.73
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ACCUMULATE
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RM2.58
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RM1.77
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+2.3%
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JAKS (4723)
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7/8/2014
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RM0.74
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TRADING BUY
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RM0.84
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RM0.725
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-2.1%
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Performance
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Positive
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Negative
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Neutral
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