FLOWS
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Tuesday, 9 September, 2014
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BUY
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IOICORP, AMBANK, GENTING
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SELL
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PPB, MAXIS, PBBANK
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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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STEMLFE (0137)
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9/9/2014
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RM0.465
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Trading BUY
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RM0.52
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Group is the largest publicly-listed
cord blood bank in Malaysia. It also holds a 40 per cent stake in Stemlife
Thailand. Cordlife had acquired 78.74 million shares in Stemlife from its
founders and several individuals last year at 60 sen/share. Margins can be
enhanced significantly as Stemlife can do in-house sample testing, which
Cordlife currently outsources to an external lab at a higher cost.
Stemlife had signed a licensing pact with Cordlife recently for
Stemlife to offer a service to store cell tissue from umbilical cords in
Malaysia. Stem
cells from the umbilical cord yields two types of stem cells, while
competitors can produce only one type of stem cell. Part of Cordlife group
restructuring will involve selling off select assets and removing
unprofitable business. Share price has dipped back down to its strong support
levels of 46 sen after touching a high of 57sen on 13 Aug. RSI at at 39 with
MACD looking to cut back up we are targeting an immediate price target of
52sen.
(DN)
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HLBANK (5819)
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9/9/2014
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RM14.82
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TRIM
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-
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The current run up to record levels driven by
better than expected results stemming from strong growth in Bank of Chengdu
and lumpy write back is a good opportunity to trim. The challenging
environment domestically is reflected in its YOY loan growth achievement of
only 7.2% vs management target of 10%. Going forward lower write backs are
expected with higher overhead expenses due to its expansion in Cambodia and
Vietnam. Further more the bank could be contemplating a capital raising
exercise to increase its core tier 1 capital with talks of BNM imposing a a
higher ratio than HLBank’s current level of 8.1%. Currently trading at P/Bk
of 1.9x vs industry average of 1.6x, Trim
(DN)
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Calls for AUGUST SEPT 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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ARMADA (5210)
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2/9/2014
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RM2.97
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ACCUMULATE
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RM3.50
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RM3.01
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+1.3%
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WEIDA (7111)
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2/9/2014
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RM1.79
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ACCUMULATE
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RM2.20
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RM1.79
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0.0%
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DIALOG (7277)
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3/9/2014
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RM1.71
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ACCUMULATE
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RM1.90
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RM1.80
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+5.2%
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BARAKAH (7251)
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3/9/2014
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RM1.49
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ACCUMULATE
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RM1.70
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RM1.44
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-3.4%
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PERISAI (0047)
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4/9/2014
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RM1.30
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ACCUMULATE
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RM1.58
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RM1.31
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+0.7%
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BENALEC (5190)
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4/9/2014
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RM0.91
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Trading BUY
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RM1.01
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RM0.915
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+0.5%
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ANNJOO (6556)
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5/9/2014
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RM1.31
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Trading BUY
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RM1.80
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RM1.38
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+5.3%
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BJAUTO (5248)
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5/9/2014
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RM2.70
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BUY
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RM3.20
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RM2.90
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+7.4%
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TENAGA (5347)
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8/9/2014
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RM12.26
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ACCUMULATE
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RM13.50
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RM12.46
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+1.6%
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AMBANK (1015)
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8/9/2014
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RM6.89
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Trading BUY
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RM8.00
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RM7.01
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+1.7%
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Given that our call initiated on the 29/8 to buy
Censof (5195) has achieved our target of RM0.58,
we advocate a take profit on the stock.
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Performance
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Positive
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Negative
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Neutral
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