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FLOWS
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Wednesday, 11 February, 2015
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BUY
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TENAGA, AMBANK, IOIPG
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SELL
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MAXIS, TENAGA, 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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PANTECH (5125)
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11/02/2015
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RM0.775
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Trading BUY
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RM0.86
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O&g lower liners have
outperformed substantially this wk. Pantech is an attractively-priced laggard
with early signs of a rally - just off recent low of 0.72, jump in vol, +ve
macd & breaking out fm a triple bottom neckline of 0.77. Pantech is a
one-stop provider of pipes, fittings and flow control solutions, a likely
beneficiary of the USD27b RAPID. Despite its given potential, the stk is
still undervalued compared to its peers. It trades at PER of 8.3x (FY2/15)
& 6.9x (FY2/16). It also provides an above-market div yield of 5.5% &
6.4% for the next 2 FYs. Its stainless steel plant has shifted production
from stainless steel pipes to fittings which have higher margins. It has
managed to penetrate more export markets due to UK-based Nautic Steel
products which carried higher margins. Trading buy
(PT)
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TIMECOM (5031)
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11/02/2015
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RM5.70
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SELL
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-
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Mgt highlighted some
softening in bandwidth & enterprise sales due to competition & a
shift in demand for cheaper-priced retail-type broadband offerings, and
competition fm TM which has introduced a broadband pdt for SMEs. Delay in completion to 3Q15 (fm 1Q15) of the Asia
Pacific Gateway due to issues in procuring sites in China wld mean lower
international revenue & a downward revision in earnings. Trading at 23.8x
PER, significantly higher than 5-yrs ave PER of 9.3x & mkt PER of 16x, we
advocate a sell into recent strength & buy back at < RM5.00. Stk is
also technically overbought with daily rsi @ 76 & wkly rsi @ 71.
(PT)
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Calls for Jan FEB 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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OIL AND GAS
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04/02/2015
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-
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TRADING BUY
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-
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-
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SASBADI (5252)
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04/02/2015
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RM1.41
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BUY
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-
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RM1.54
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+9.2%
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PESTECH (5219)
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05/02/2015
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RM4.10
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ACCUMULATE
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RM4.50
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RM4.23
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+3.1%
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OLDTOWN (5201)
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05/02/2015
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RM1.66
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ACCUMULATE
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RM1.90
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RM1.75
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+5.4%
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CMMT (5180)
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06/02/2015
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RM1.43
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ACCUMULATE
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RM1.60
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RM1.48
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+3.4%
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AIRASIA (5099)
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06/02/2015
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RM2.78
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BUY
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RM3.20
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RM2.76
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-0.7%
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ENGTEX (5056)
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09/02/2015
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RM1.10
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TRADING BUY
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RM1.40
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RM1.12
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+1.8%
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BJAUTO (5248)
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09/02/2015
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RM3.31
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BUY
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RM3.70
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RM3.44
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+3.9%
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MAHSING (8583)
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10/02/2015
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RM2.00
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ACCUMULATE
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RM2.30
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RM2.00
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0.0%
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PESONA-WC (8311WC)
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10/02/2015
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RM0.525
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TRADING BUY
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-
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RM0.52
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+1.0%
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Performance
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Positive
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Negative
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Neutral
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