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FLOWS
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Tuesday, 30 September, 2014
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BUY
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AXIATA, PBBANK, GENM
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SELL
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IOICORP, UMW, UEMS
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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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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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Expecting developments on its Indonesian plantation,
most likely related to expanding landbank from the current 91,00ha to
possibly 100,000ha and increasing the planted acreage with the acquisition of
earnings accretive brown fields & disposing the unplanted land that has
potential land clearing & title issues. With a very healthy cash
pile of RM2.76bn (RM4.49/shr), Oriental is in a superior position to
capitalize immediately on any business opportunities. Furthermore, Group’s
medical centre in Malacca is expected to commence 4QCY’14 contributing
positively to earnings growth. Stock is trading at p/b of 1.0x and with macd
showing signs of cutting up. We see strong support at RM7.65-7.60 levels. Buy
with immediate price target of RM9.00.
(LJN)
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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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We see strong technical support seen at RM12.20
levels. Currently, this is good window of opportunity to accumulate
especially with catalyst from FCPT expected in 4QCY’14 and with operational
issues at its coal plants resolved. Tenaga’s coal-fired plants will also
benefit from the falling coal prices. Group operates in an industry with a
high barrier of entry and commands a 53% market share for power generation.
Fundamentals remains strong with FY’15 & 16 PER at 12.8x & 11.8x
respectively further strengthened by steady electricity consumption of 6% per
annum which provides confidence on earnings visibility. Accumulate
(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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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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RM0.715
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-0.7%
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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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RM1.60
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-1.9%
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SPSETIA (8664)
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24/9/2014
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RM3.25
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ACCUMULATE
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RM3.60
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RM3.44
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+5.8%
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PCHEM (5183)
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24/9/2014
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RM6.23
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TRADING BUY
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RM6.80
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RM6.24
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+0.1%
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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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RM2.25
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+0.4%
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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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RM2.19
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+0.4%
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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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RM3.49
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-0.6%
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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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RM1.75
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+1.1%
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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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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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