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FLOWS
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Tuesday, 31 March, 2015
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BUY
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GENM, WPRTS, SIME
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SELL
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MAYBANK, PCHEM,
BURSA
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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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TUNEINS (5230)
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31/03/2015
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RM1.99
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ACCUMULATE
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-
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Share price has
consolidated well over the past month following a sharp gain on the back of
strong earnings growth and bright prospects with Co seeing maiden full-year
contribution from its ventures in Thailand and Middle East in FY15. Its
fast-growing and high-margin travel insurance business will be the key driver
moving forward on expectations of adding more airlines/non-airline travel
partnerships and expanding into new markets for AirAsia and Cebu Pacific
fuelled further by potential M&As in Indonesia expected by 3Q’15. Trading
at just 15x & 13x FY15 & respectively vs historical average of 19.3x
whilst supported by 20% CAGR for next 2-year and 2.8% & 3.5% FY15 &16
dividend yield; Accumulate. (SPK)
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GHLSYS (0021)
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31/03/2015
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RM0.96
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ACCUMULATE
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-
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We reiterate our call to accumulate the stock in
view of GHL’s strong CAGR of 78% on expectations of stronger Transaction
Payment Acquisition (TPA) earnings contribution. BNM’s recent ruling to
impose a cap on interchange fees will encourage more merchants to embrace
e-payment services providing bigger market potential for GHL as it is not
economical for banks to fulfill the 800k POS terminals target set by BNM.
Furthermore, Co’s risk underwriting capability is a significant barrier to
entry for new entrants to the TPA ecosystem. Potential catalysts include
further growth in TPA activities with 3 potential banking partners in
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Calls for MARCH WEEK 3/WEEK 4
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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KNM (7164)
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24/03/2015
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RM0.635
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ACCUMULATE
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-
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RM0.665
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+4.7%
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TAANN(5012)
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24/03/2015
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RM3.90
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ACCUMULATE
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RM4.50
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RM3.87
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-0.8%
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JAKS (4723)
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25/03/2015
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RM0.54
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ACCUMULATE
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RM0.80
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RM0.555
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+2.7%
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CHINWEL (5007)
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25/03/2015
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RM1.49
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ACCUMULATE
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RM1.75
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RM1.47 (ex)
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-1.4%
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GKENT (3204)
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26/03/2015
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RM1.27
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Trading BUY
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RM1.40
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RM1.21
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-4.8%
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TOPGLOV (7113)
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26/03/2015
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RM5.58
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TAKE PROFIT
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BB – RM4.70
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RM5.48
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-1.8%
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DELEUM (5132)
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27/03/2015
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RM1.55
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ACCUMULATE
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RM1.85
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RM1.54
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-0.7%
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MITRA (9571)
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27/03/2015
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RM1.60
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BUY on weakness
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RM2.00
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RM1.62
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+1.2%
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IHH (5225)
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30/03/2015
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RM5.97
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TAKE PROFIT
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-
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RM5.97
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0.0%
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PCHEM (5183)
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30/03/2015
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RM5.48
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REDUCE
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-
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RM5.60
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+2.0%
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Performance
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Positive
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Negative
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Neutral
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