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FLOWS
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Tuesday, 15 December, 2015
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BUY
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YTL,
MAYBANK
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SELL
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PCHEM,
MISC, 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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UOADEV (5200)
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15/12/2015
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RM2.12
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ACCUMULATE
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RM2.40
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The group reported strong
core net profit growth for the q on the back of stronger topline and margin
expansion following the completion of vertical office suits at Bangsar South.
Group’s higher recurring income also improved from last year following the
launch of its Nexus mall in September last year which has a 90% occupancy
rate. Currently, UOA has an unbilled sales of RM1.5bil at the end of Sept
which will sustain earnings until 2017 despite a slower launches in 2015.
Company plans to launch projs worth RM3.2bn in 2016. We continue to like UOA
for its abv avg yield of 6.2%, healthy profit margins, growing recurring
income portion, strong balance sheet with approx 40cents net cash bringing
its PE to only 6X excluding its cash pile. Stock remains resilient
against market turmoil as it consolidated around the RM2.00 - RM2.20 levels.
Accumulate.
(RL)
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MUHIBBAH (5703)
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15/12/2015
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RM2.22
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BUY
on weakness
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RM2.70
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Healthy orderbook
of RM2.8bil will provide earnings visibility for at least the next 2 years.
Company is a good proxy to infra play in Msia MRT2, LRT3 n highway
subcontract jobs other than RAPID that’s expected be awarded in the 2H.
Undemanding valuations of only 9.2x for FY16 vs 7 years avg of 20x. Share
price rose to a high of RM2.46 a week ago and have retrace back to current
level which offers investors a good BUY on weakness entry around the
RM2.13-RM2.22 levels. Stochastics pending a Buy Signal. TP of RM2.70 which
implies only 12.5x PE.
(RL)
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Calls for DEC WEEK 1 WEEK 2 2015
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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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TIMECOM (5031)
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7/12/2015
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RM7.05
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BUY
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RM8.00
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RM6.95
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-1.5%
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POS (4634)
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7/12/2015
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RM3.36
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BUY
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RM4.00
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RM2.65
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-21.2%
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AEONCR (5139)
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8/12/2015
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RM12.18
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ACCUMULATE
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-
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RM11.84
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-2.8%
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PRTASCO (5070)
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8/12/2015
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RM1.58
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BUY
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-
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RM1.59
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+0.6%
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HSL (6238)
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9/12/2015
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RM1.89
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ACCUMULATE
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RM2.30
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RM1.86
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-1.1%
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AXIATA (6888)
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9/12/2015
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RM6.09
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SELL
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-
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RM5.98
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-1.9%
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PADINI (7052)
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10/12/2015
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RM1.87
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TRIM
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-
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RM1.83
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-2.2%
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TEOSENG (7252)
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10/12/2015
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RM1.53
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ACCUMULATE
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RM2.15
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RM1.53
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0.0%
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MAXIS (6012)
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14/12/2015
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RM6.58
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TRIM
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RM6.00
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RM6.54
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-0.7%
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BRAHIMS (9474)
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14/12/2015
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RM1.02
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ACCUMULATE
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RM1.20
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RM1.07
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+4.9%
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Performance
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Positive
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Negative
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Neutral
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