FBM30 1645.00
+5.85 points (+0.36%) Volume 1,126mil Value 1,458mil
1) KLCI continued to outperform the region, gaining for
the 4th consecutive days as regionals fell on Premier Wen's comments that
Chinese economy is worsening with Bernanke warning of possibly another
recession in US. Index traded in a tight range of 5 points and ended at day's
high after BAT was marked up at auction. Market breadth was mixed with gainers
edging losers 362:358. Futures closed 1645.5pts (0.5point premium).
2) Heavyweights: PBBANK+0.85% RM14.24, TM+1.63% RM6.25,
DIGI+0.91% RM4.44, BAT+2.81% RM57.88, CIMB+0.51% RM7.90, MAYBANK+0.34% RM8.77, IOICORP+0.57% RM5.29, TENAGA+0.45% RM6.73
3) DBT: EDEN 8.5mil @ RM0.36 (1.6% PUC, 16% premium),
KEINHIN 5.3mil @ RM0.40 (5.4% PUC), CWORKS 5mil @ RM0.10 (5% PUC, 26%
discount)
4) Situationals:
INGRESS+12% RM1.39: Share price advanced after Company's
CEO Datuk Rameli Musa was quoted INGRESS has received offers from
several parties to take the company private. However so far nothing has been
decided.
5) BURSA: HY06/12
Rev-0.3% RM216.5m Net+3% RM78.7m EPS 14.8s Div 13.5s
Results 5% ahead of cons RM150.1m
For 6 mths yoy, revenue was marginally lower. Securities
market operating revenue (comprises mainly trading rev, listing fees,
depository rev, information sales, access fees & processing fees) -4% ,
mainly from lower trading revenue -10%. Derivative market operating revenue
+5%. PBT for the 6 mths was 4% higher (securities segment+0.4%, derivative
segment+10% & other income +12%). Qoq, Rev -4%, PBT-7%, due to the poorer
performance of the securities market. Ahead, Co expects market uncertainties to
persist in light of the lingering debt crisis in the Euro zone & weakness
in the global economy. Group will continue to improve it's infrastructure &
services and offer attractive & new products to the market. We believe the
recent correction in the share price of about 14%, could have factored in the
thinly traded equity market in 2Q12. Co is now trading at PE of 20x for
FY12/13, below it's 3-year average forward PER of 24x. Bursa declared an
interim dividend of 13.5s, within market expectations; BOW
6) Mkt: the KLCI is likely to hit resistance @ the
psychological 1650 levels and the market rotating into laggards such as
Genting, IJM, DRB, MRCB and UEMLand.
