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FLOWS
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Thursday, August 06, 2015
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BUY
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SKPETRO
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SELL
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WPRTS, MAXIS
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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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TENAGA (5347)
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06/08/2015
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RM11.50
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ACCUMULATE on weakness
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-
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Confirmation of TNB intending to acquire Edra Global Energy power
assets has resulted in a further loss of RM4.75bn to its market cap. The
price now seems to ignore the fundamentals reflected in its latest quarterly
results which showed better operation efficiency with lower overall fuel
cost. Currently trading at a P/BV of 1.4x (median of the last 3yrs btw
0.9x-1.8x) and a PE of 9.9x vs average of 16.4x since the Asian financial
crisis – downside risk appears limited. A fair market price acq of Edra could
propel it back towards most research target prices of RM15 with a larger asset
base and less reliant on independent IPPs. Accumulate on weakness.
(DN)
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PRKCORP (8346)
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06/08/2015
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RM3.18
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BUY
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RM2.50
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Work on phase one of the RM450 million animation theme park, Movie
Animation Park Studios (MAPS) in Meru Raya, Perak, is expected to be
completed by the first quarter of 2016. Perak C owns 49% with 51% held by RSG
MAPS. Second phase comprises hotels,
serviced apartments and lifestyle retail and dining concept; Phase three
would be a water park. The park is expected to attract over 1.5m visitors
with DreamWorks Animated characters. The comp had
earlier completed the disposal of 15.74% equity interest in Integrax Bhd to
Tenaga Nasional Bhd for RM150.31mil,
leaving its with a healthy cash positive b/s even after the special div of
30c. The company still owns 50% plus one share in the Lumut Maritime
Terminal (LMT) with Integrax owning the balance. LMT manages Lekir Bulk
Terminal (LBT) that in turn handles coal for TNB’s current 2,100MW power plants in Manjung, Perak. The conc expires in 2017 but is expected
to be renewed. Its major property project is the 607ha in Bandar Meru Raya,
Perak, a mixed-development comprising residential, commercial, hotels and a
theme park. We do not discount the possibility of its major shld PKNP with
52.3% relaunching a selective capital reduction (SCR) and repayment exercise
which was unsuccessful in 2014 as the company trades at only 0.51x
px/bk. BUY
(DN)
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Calls for JULY WEEK 4/ AUGUST WEEK 1 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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COASTAL (5071)
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30/07/2015
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RM2.52
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ACCUMULATE
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RM3.15
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RM2.38
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-5.6%
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MALAKOFF (5264)
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30/07/2015
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RM1.66
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ACCUMULATE
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RM2.22
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RM1.67
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+0.6%
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UCHITEC (7100)
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31/07/2015
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RM1.58
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ACCUMULATE
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RM1.80
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RM1.52
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-3.8%
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MATRIX (5236)
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31/07/2015
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RM2.50
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ACCUMULATE
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RM2.80
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RM2.47
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-1.2%
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XINHWA (5267)
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03/08/2015
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RM1.28
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TRIM
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RM1.04
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RM1.24
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-3.2%
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PTARAS (9598)
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03/08/2015
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RM3.78
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ACCUMULATE
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RM4.20
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RM3.80
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+0.5%
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LUXCHEM (5143)
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04/08/2015
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RM1.16
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BUY
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RM1.35
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RM1.14
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-1.8%
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LAFMSIA (3794)
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04/08/2015
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RM9.76
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TRIM
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-
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RM9.64
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-1.2%
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SUPERMX (7106)
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05/08/2015
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RM2.46
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TAKE PROFIT
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RM2.05
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RM2.46
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0.0%
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PARAMON (1724)
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05/08/2015
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RM1.93
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ACCUMULATE
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RM2.50
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RM1.94
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+0.5%
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PERFORMANCE
ALERT
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STOCK
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Initiation
dates
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Initiation
price
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Target
Price
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Action
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Returns
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SKPETRO (5218)
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15/04/2015
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RM2.40
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RM2.75
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Take
profit
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14.5%
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UNISEM (5005)
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22/04/2015
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RM2.60
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BB
– RM2.30
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Trading
buy
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-
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SKPRES (7155)
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08/05/2015
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RM0.845
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RM1.10
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Take
profit
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19.5%
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TOPGLOV (7113)
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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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KNM (7164)
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23/06/2015
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RM0.54
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RM0.62
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Trading
Sell
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13.0%
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Performance
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Positive
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Negative
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Neutral
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