FLOWS
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Thursday, 2 October, 2014
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BUY
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GENTING, IOIP, CIMB
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SELL
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MAYBANK, UEMS, ASTRO
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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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WELLCALL (7231)
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2/10/2014
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RM1.63
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ACCUMULATE
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RM1.83
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Group supplies industrial rubber hoses that
should benefit from falling rubber prices and show improvements in profit
margins. Company has also shifted to semi-automation of production lines
where only 1 worker is required to produce 22-26 hoses/shift compared to
manual line of 4 workers producing 8 hoses/shift. Utilisation currently at
85-90% with its 3rd factory expected to be commissioned mid CY’15 increasing
capacity by 50%. Expectations of a stronger USD will bode well for margins.
Stock yields an attractive 5.3% & 5.9% FY’15 & 16 respectively.
Accumulate on Weakness
(TYK)
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MBMR (5983)
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2/10/2014
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RM2.85
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Trading BUY
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RM3.50
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We see limited downside with strong support
expected at RM2.70. Company appears to have gone thru the trough with strong
sales seen in the recently launched Perodua Axia that saw booking achieving
over 20k since launch in mid August. Hino Malaysia is also expected to return
to profitability following its move to Bandar Sendayan in 2Q. Perodua’s plant
will also be upgraded by end of year to accommodate production of 400k units
pa increasing its ability to do contract manufacturing. Company is also a
major beneficiary to the weakening Yen. Trades at 8xFY15 PER vs Peers of
12-13x. Accumulate with TP: RM3.50 (10xPER)
(TYK)
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Calls for SEPT WEEK 4 / OCT
WEEK 1 2014
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STOCK
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Initiation
Dates
|
Initiation
price
|
BUY/SELL
|
TARGET PRICE
|
LAST PRICE
|
% Change
since Initiated
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SUPERMX (7106)
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25/9/2014
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RM2.24
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ACCUMULATE
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RM3.10
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RM2.22
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+0.9%
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WASEONG (5142)
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25/9/2014
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RM1.76
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BUY
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RM2.20
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RM1.78
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+1.1%
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WCT (9679)
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26/9/2014
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RM2.18
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Trading BUY
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RM2.40
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RM2.15
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-1.4%
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NAIM (5073)
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26/9/2014
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RM3.51
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ACCUMULATE
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RM4.75
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RM3.45
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-1.8%
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GADANG (9261)
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29/9/2014
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RM1.73
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Trading BUY
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RM2.10
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RM1.73
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0.0%
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TAANN (5012)
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29/9/2014
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RM3.87
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Trading BUY
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RM4.50
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RM3.90
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+0.7%
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ORIENT (4006)
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30/9/2014
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RM7.79
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BUY
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RM9.00
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RM7.70
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+1.2%
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TENAGA (5347)
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30/9/2014
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RM12.28
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ACCUMULATE
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RM13.50
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RM12.32
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+0.3%
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IJM (3336)
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1/10/2014
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RM6.47
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BUY
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RM7.20
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RM6.45
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-0.4%
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UNISEM(5005)
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1/10/2014
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RM1.63
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Trading BUY
|
RM1.80
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RM1.67
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+2.4%
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Given that
our call initiated on the 22/9 to buy TMCLIFE (0101) has achieved our target
of RM0.60,
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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