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FLOWS
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Thursday, 26 February, 2015
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BUY
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TENAGA, GENM, CIMB
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SELL
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UEMS, TM, TENAGA
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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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KULIM (2003)
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26/02/2015
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RM3.25
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ACCUMULATE
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RM4.00
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As Kulim completes the sale of NBPOL, company
is expected to hold net cash of appox RM1.8bn with RM1bn (0.78sen) expected
to be distributed over 2 yrs. This ensures attractive dividend in coming
years. What’s left in Kulim incl oil palm estates in Malaysia with planted
landbank of 47,165ha (ave 12yrs), plantation landbank in Indo totalling
40,645ha and a 50.6% stake in EATECH. Should we strip out the cash, current
px values Malaysian planted landbank at only RM55k/ha below NBPOL acquisition
of apprx RM75k/ha. Furthermore s’holders receives landbank in Indo for free.
Accumulate with SOP valuation of RM4.00
(TYK)
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SUNWAY (5211)
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26/02/2015
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RM3.32
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ACCUMULATE
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RM3.82
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FY14 core earnings of RM591.7m beat estimates
by 18% boosted by better profit margins and lower than expected interest
cost. Share price could play catch up to IJM, GAMUDA, WCT which has gained
ytd 6-8% while SUNWAY+1% ytd. Currently trades at 11x PER and 1xBV for FY15 w
outstanding orderbook healthy at RM3.3bn and unbilled sales of RM2.5bn. Price
offers good entry level to benefit from distribution in dividend-in-specie of
subsidiary, Sunway Construction, to be listed in 1H'15. Accumulate TP: RM3.84
(TYK)
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Calls for Jan FEB WEEK 2 WEEK
3 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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HARTA (5168)
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16/02/2015
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RM7.83
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SELL into Strength
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BB - RM7.00
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RM8.05
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+2.8%
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WPRTS (5246)
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16/02/2015
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RM3.55
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Take Profit
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RM3.20
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RM3.49
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-1.7%
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GTRONIC (7022)
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17/02/2015
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RM4.81
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ACCUMULATE
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RM5.50
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RM4.99
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+3.7%
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TSH (9059)
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17/02/2015
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RM2.28
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Trading BUY
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RM2.65
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RM2.25
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-1.4%
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UZMA (7250)
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23/02/2015
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RM2.58
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Take Profit
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<RM2.10
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RM2.42
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-6.3%
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KNM (7164)
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23/02/2015
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RM0.72
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Take Profit
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-
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RM0.695
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-3.5%
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DAYANG (5141)
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24/02/2015
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RM2.80
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ACCUMULATE
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RM3.20
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RM2.83
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+1.0%
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EVERGRN(5101)
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24/02/2015
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RM0.975
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BUY on weakness
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-
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RM1.00
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+2.5%
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MUHIBBAH (5703)
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25/02/2015
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RM2.21
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ACCUMULATE
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RM2.72
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RM2.29
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+3.6%
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HAPSENG (3034)
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25/02/2015
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RM3.67
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BUY
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RM4.20
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RM3.68
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+0.2%
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Performance
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Positive
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Negative
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Neutral
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