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FLOWS
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Friday, 6 November, 2015
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BUY
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FGV,
PBBANK, PCHEM
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SELL
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MAXIS,
SKPETRO
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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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SENDAI (5170)
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6/11/2015
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RM0.855
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BUY
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RM1.10
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Interest in the stock has spiked after 2
months of consolidation. The group’s outlook remains bright despite the
current gloomy market conditions. It is targeting RM1.6b contract wins for
2015 which we believe is achievable (secured RM1.1b YTD) and profit margins
are expected to improve. Order Book is at RM1.8b, with c40% from the O&G
division that has higher margins. Tender book stands at RM17b, of which
35-40% are from the O&G division. Group is also a beneficiary of the
weaker Ringgit, since Middle East projects ( 65% of OB value) contract
payments are pegged to USD. Trading at an undemanding 8.5x FY16 ( vs small
mid cap average of 7-12x), with MACD on verge of cutting up ; BUY ( TP RM1.10
on 11x FY16).
(AK)
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CARING (5245)
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6/11/2015
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RM2.05
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SELL
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The share price has risen c80% over the past 2
months. It currently trades at a rich PE of 33x FY05/17 with minimal earnings
growth over the next 2-3 years to back it. Although optimistically, one may
expect some earning respite in the upcoming quarters from their expansion
plans, the recovery would be subdued, as consumer sentiment remains tepid
while competition intensifies. Over aggressive expansion (high working
capital & start up costs) has resulted in margin compression, which will
drag earnings. As we reckon valuations at current level are unsustainable given
the group’s lower market capitalization & weak outlook, it makes for a
good exit opportunity - Sell.
(AK)
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Calls for OCT WEEK 4 NOV 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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ECONBHD (5253)
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30/10/2015
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RM1.01
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BUY
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RM1.24
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RM1.02
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+0.9%
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SCIENTX (4731)
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30/10/2015
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RM7.66
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TRIM
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-
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RM7.68
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+0.2%
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TITIJYA (5239)
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2/11/2015
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RM1.72
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ACCUMULATE
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RM2.13
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RM1.78
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+3.4%
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KKB (9466)
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2/11/2015
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RM1.71
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TRIM
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-
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RM1.76
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+2.9%
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MYEG (0138)
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3/11/2015
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RM2.98
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Take
Profit
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-
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RM2.98
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-1.4%
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DELEUM(5132)
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3/11/2015
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RM1.31
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ACCUMULATE
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-
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RM1.35
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+3.0%
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CYPARK (5184)
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4/11/2015
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RM1.89
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BUY
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RM2.20
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RM1.85
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-2.2%
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KSL (5038)
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4/11/2015
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RM1.66
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ACCUMULATE
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RM2.08
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RM1.60
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-3.7%
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TNLOGIS (8397)
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5/11/2015
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RM1.40
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TAKE
PROFIT
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RM1.29
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RM1.40
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0.0%
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UCHITEC (7100)
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5/11/2015
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RM1.66
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ACCUMULATE
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RM1.80
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RM1.65
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-0.9%
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Performance
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Positive
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Negative
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Neutral
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