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Still convalescing from the heavy selldown post GE, our July alpha picks delivered a simple average gain of 11.3%, above FBMKLCI’s +5.5%, as the new government’s decisions on mega projects have been less disruptive than feared, thus allowing construction stocks to partially recover. We add MRCB to August’s picks, along with Bumi Armada, CMS, Gabungan AQRS, Inari and VS Industry. WHAT’S NEW
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SKP RESOURCES BHD SKPRES has gapped- - up to close above the EMA20 level accompanied by improved volumes. The MACD Indicator has issued a BUY Signal, while the RSI has risen above 50. Price may advance, targeting the RM1.63- - RM1.75 levels. Support will be pegged around the RM1.34 level source: Malacca Securities Research – 11/07/2018
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From bad to worse: Stop work order for ECRL ■ Malaysia Rail Link (MRL) has confirmed The Edge Markets’ report that MRL had instructed CCCC to suspend construction works of the ECRL with immediate effect. ■ We are not surprised by this development as the suspension of works is likely to make way for a scaling-down phase and to limit additional loan drawdowns. ■ Maintain Underweight. Risks
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KAREX BERHAD Stock Code: 5247 KAREX gained 5 sen yesterday (5.88%), closing at RM0.900, backed by above-average trading volume. Chart-wise, the stock has been trading in a range between RM0.750 to RM0.850 for the past two weeks after a short rally in early June. Yesterday’s candlestick broke through its previous swing high resistance of RM0.850 which could signify a
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Symmetrical triangle breakout. SCICOM could be riding on the healthy tourist growth (11.8% in 2017) in Cambodia, following the award of contract from Ministry of Tourism of Cambodia. SCICOM has a net cash of RM45.8m (12.9 sen/share) as of end March 2018 and its dividend yield stood at 4.5%. The share price suggests that SCICOM has experienced a symmetrical triangle breakout above RM2.00,
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• KRONO rose 7.0 sen (10.0%) to close at RM0.770. • Yesterday’s move resulted in a downtrend breakout with MACD in bullish divergence, to signal that the share price has bottomed out and now poised for a recovery. • Key indicators are in supportive of a move higher, with the RSI now venturing close to cross above 50-point mark while MACD has hooked upwards above signal line. • From here,
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ANN JOO RESOURCES BHD Stock Code: 6556 • Yesterday, ANNJOO gained an impressive 22 sen (6.4%) to close at intraday high of RM3.63. • Yesterday’s move marked a first breakthrough from a two-month period of consolidation. • Uptick in MACD to crossover its Signal-line, coupled with the share price closing above its 20-day SMA for the first time in two months could signal a bullish turn in
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