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FLOWS
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Wednesday, 2 December, 2015
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BUY
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PCHEM
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SELL
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SKPETRO,
UEMS
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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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KIMLUN (5171)
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3/12/2015
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RM1.32
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ACCUMULATE
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RM1.62
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The recent 3Q results exceeded expectations,
attributable to execution of better margin construction projects, lower raw
material prices & better Tunnel Lining Segment & jacking pipes
sales orders. Group remains one of only 2 established suppliers of the MRT
precast concrete segments in Malaysia, and is awaiting new supply tenders
from MRT2 ( exp within the next 1-2 months). It has secured cRM600m worth of
new contracts YTD, and has a tender book of RM1b. Outstanding OB for
construction & manufacturing remain at a healthy RM0.9b & RM0.2b.
Margins has been improving over the first 3 quarters and management has
guided for the improved margins to stay. Outlook remains bright &
valuation is attractive at 7.5x FY16 ( vs sector average of 9-10x and
small-mid cap peers of 7-12x); Accumulate ( TP RM1.62, on 9x FY16).
(AK)
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ASIAFLE (7129)
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3/12/2015
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RM4.71
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TRIM
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-
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The share price has risen more than 50% over the
past 3.5 months, partly on expectations that the stronger USD would enhance
earnings. This has come about, as reflected in 1HFY3/16 results where forex
gain made up c25% of net profit. We reckon the positives & fundamentals
of the group have been reflected in the price. We are concerned about the
group’s dependence on Europe (which contributes more than 60% of the group’s
revenue), whose economy remains challenging. Following the price run, group
is now trading at 15x FY03/16, versus the sector’s target PE of 11-12x,
despite it’s relatively small market cap & free float – Trim into current
strength.
(AK)
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Calls for NOV 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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DSONIC (5216)
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26/11/2015
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RM1.66
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TRIM
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-
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RM1.57
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-5.5%
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CBIP (7076)
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26/11/2015
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RM1.93
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ACCUMULATE
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RM2.29
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RM1.97
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+2.0%
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RHBCAP-OR (1066OR)
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27/11/2015
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RM0.645
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BUY
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-
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RM0.635
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-1.6%
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TGUAN (7034)
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27/11/2015
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RM2.72
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TAKE
PROFIT
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-
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RM2.64
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-3.0%
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OCK (0172)
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30/11/2015
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RM0.705
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BUY
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RM1.00
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RM0.725
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+2.8%
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CENTURY (7117)
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30/11/2015
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RM0.81
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BUY
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RM0.81
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RM0.815
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+0.6%
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SCABLE (5170)
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1/12/2015
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RM1.54
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BUY
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RM1.76
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RM1.57
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+1.9%
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TADMAX (4022)
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1/12/2015
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RM0.31
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BUY
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RM0.45
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RM0.315
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+1.6%
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MINHO (5576)
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2/12/2015
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RM1.41
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BUY
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RM1.80
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RM1.41
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0.0%
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PARAMON (1724)
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2/12/2015
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RM1.61
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ACCUMULATE
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RM2.00
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RM1.62
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+0.6%
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Performance
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Positive
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Negative
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Neutral
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