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FLOWS
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Wednesday, 19 August, 2015
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BUY
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MAYBANK, DIALOG
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SELL
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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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IJMPLNT (2216)
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19/08/2015
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RM3.30
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TRIM
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RM3.00
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The share price has held relatively well
within its trading range of RM3.30-3.70 over the past 5 months. Despite the
group’s strong FFB growth potential of 16%, we think upside could be capped
by weak CY15 CPO prices. Meanwhile, a volatile USD could skew earnings due to
its borrowings of RM715m, which are entirely denominated in USD. Management
has guided that production cost pressure could persist in Indonesia due to
higher maintenance and overhead costs. Although production arguably may
rebound in FY16, we do not see the growth to be exciting - We recommend a
Trim into current relative strength amongst the planters. (Possible buyback
RM3.00, 18x FY16).
(AK)
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IHH (5225)
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19/08/2015
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RM5.65
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TRIM
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RM5.08
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With core markets ( Malaysia, Singapore &
Turkey) delivering strong results, group is now likely to focus more on the
next growth markets – India & China. After the recent strong stock price
performance, we reckon it has mostly priced in the growth potential from the
core markets & its pipeline expansion. The stock is currently trading at
49x & 40x for FY15 & 16. This appears rich as compared to its average
net profit growth of 11% pa over FY15 & 16. Risk reward now appears less
appealing. Weaker MYR may also translate to higher capex as most equipment
are denominated in USD. Given the uncertain market sentiment – Trim (Buy-back
at RM5.08, based on FY16 PER 36x).
(AK)
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Calls for AUGUST 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
|
TARGET
PRICE
|
LAST PRICE
|
% Change
since Initiated
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KLK (2445)
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12/08/2015
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RM21.48
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TRIM
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-
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RM20.26
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-5.7%
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PPB (4065)
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12/08/2015
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RM15.32
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TRIM
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-
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RM14.78
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-3.6%
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TIMECOM (5031)
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13/08/2015
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RM5.63
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TAKE PROFIT
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BB - RM4.80
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RM5.87
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+4.2%
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UMW (4588)
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13/08/2015
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RM9.54
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SELL
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-
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RM8.82
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-7.3%
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ECONBHD (5253)
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14/08/2015
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RM0.855
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TRADING BUY
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RM1.03
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RM0.795
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-7.1%
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GASMSIA (5209)
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14/08/2015
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RM2.12
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BUY
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RM2.40
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RM2.06
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-2.9%
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MUHIBBAH (5703)
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17/08/2015
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RM1.94
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ACCUMULATE
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RM2.40
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RM1.78
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-8.3%
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SALCON (8567)
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17/08/2015
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RM0.655
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ACCUMULATE
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RM0.78
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RM0.645
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-1.6%
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KULIM (2003)
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18/08/2015
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RM2.68
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REDUCE
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RM2.20
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RM2.72
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+1.4%
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GAB (3255)
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18/08/2015
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RM12.98
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ACCUMULATE
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RM15.02
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RM13.00
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+0.1%
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PERFORMANCE
ALERT
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STOCK
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Initiation
dates
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Initiation
price
|
Target
Price
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Action
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Returns
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TOPGLOV (7113)
|
08/06/2015
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RM5.47
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-
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Trading
Sell
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-
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XINHWA (5267)
|
03/08/2015
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RM1.03
|
1.20
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Buy
Back
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-
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KAREX (5247)
|
07/08/2015
|
RM3.10
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RM3.80
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Buy
Back
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-
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Performance
|
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Positive
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Negative
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Neutral
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