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FLOWS
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Tuesday, September 23, 2014
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BUY
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PPB, IOIP, TENAGA
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SELL
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DIGI, MAYBANK, YTLP
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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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KENANGA (6483)
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23/9/2014
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RM0.72
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ACCUMULATE
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RM0.80
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Share price has retraced 16% frm high of RM0.86 - currently attractive
with MACD showing strong upside momentum, RSI @ 42. Kenanga trades at an
attractive P:B of 0.65x vs recently completed M&A
activities at higher P:B ratios transacted – OSK/RHB (1.77x), Affin/Hwang
(1.24x) & HL/EON (1.32x). Top 3 major shareholders: CMS Cap 20.9%, ECM
Libra 16.4%, Deutsche AsiaPac 13.8%. Earlier rumours of Deutsche looking to
hive off their stake may see M&A interest-Accumulate on weakness. (LJN)
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IWCITY (1589)
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23/9/2014
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RM1.63
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TRADING BUY
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RM1.80
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After peaking RM1.78, price has retraced 7.9% to attractive levels
presenting goodd window of opportunity to capitalize on IWCITY’s future
prospects. 47.2% owned by Iskandar Waterfront Hldgs which is awaiting its own
IPO next year, Co is poised to realize its most prized asset – 980ac
waterfronting landbank which could fetch potential GDV of RM54b. We believe
this will be fast tracked by further outright land sales or JVs with other
property players as evident by recent 70:30 JV between Tropicana and IWC to
develop 60ac (GDV: RM3.7bn). Trading at steep 37% discount to RNAV, we see
good value-Trading Buy on weakness. (LJN)
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Calls for SEPT 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
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TARGET PRICE
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LAST PRICE
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% Change
since Initiated
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BARAKAH (7251)
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15/9/2014
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RM1.40
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ACCUMULATE
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RM1.60
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RM1.45
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+3.5%
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BAT (4162)
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15/9/2014
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RM73.36
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Trading SELL
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RM66.00
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RM70.60
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-3.8%
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MYEG (0138)
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17/9/2014
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RM3.28
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SELL
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BB – RM2.80
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RM3.28
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0.0%
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BSTEAD (2771)
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17/9/2014
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RM4.98
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SELL
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RM4.50
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RM4.98
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0.0%
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SOP (5126)
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18/9/2014
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RM5.85
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ACCUMULATE
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RM6.60
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RM5.80
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-0.9%
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PRTASCO (5070)
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18/9/2014
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RM1.71
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ACCUMULATE
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RM2.40
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RM1.76
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+2.9%
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POS ( 4634)
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19/9/2014
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RM4.70
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ACCUMULATE
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RM5.30
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RM4.67
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0.0%
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TITIJYA (5239)
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19/9/2014
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RM2.44
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ACCUMULATE
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RM2.90
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RM2.43
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-0.5%
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GTRONIC (7022)
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22/9/2014
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RM4.81
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ACCUMULATE
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RM5.20
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RM4.80
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-0.3%
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TMCLIFE (0101)
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22/9/2014
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RM0.525
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ACCUMULATE
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RM0.60
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RM0.555
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+5.7%
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Given that our call initiated on the 5/9 to buy
BJAUTO (5248) has achieved our target of RM3.20,
we advocate a take profit on the stock.
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