FBM 1607.32
+0.80pts (+0.05%)
Volume 885.7mil Value RM1,531mil
1) KLCI reached a high of 1612.73 (+6.21pts) in tandem
with the rise in global equities as investors speculated that an agreement on
the US budget would be reached before automatic tax increases and spending cuts
kicks in before year end. Local market however lost momentum with selected
blues led by GENTING and CIMB sold down in the 2nd session while Telco names
also saw profit taking following sharp rise since yesterday. Market breadth
remained negative with decliners edging advancers 354:327. Future closed 1611
(3.7 points premium).
2) Heavyweights: DIGI+1.90% RM4.84, AXIATA+0.68% RM5.91,
GENM+2.04% RM3.50, PETGAS+1.36% RM17.94, MAYBANK+0.33% RM9.07, GENTING-2%
RM8.82, IOICORP-1.59% RM4.95, CIMB-0.8% RM7.48
3) DBT: MPHB 42mil @ RM3.22 (2.9% PUC), BJCORP 10mil @
RM0.5797
4) Situational:
SPSETIA+2.62% RM3.13: SPSETIA which has fallen sharply since announcement of its removal from the MSCI Malaysian Index effective 30 Nov saw buying
interest today after news reported company has achieved total sales of RM2.5bil
for its KL Eco City project which it launched a year ago with Kuala Lumpur's
City Hall as joint venture partner.
Battersea Power Station project in London, the first 800
apartment units will be launched in the first quarter of next year with an
international roadshow in Singapore, Hong Kong and the Middle East. It is
expected to end in London by April/May.
5) PetDagangan
9mths Tover +2.9% RM21.83bn Net RM665m EPS 66.5sen
7% below cons(f) RM951m
The increase in turnover can be attributable to
an increase in sales volume by 1.0%. Group earnings however remained flat due
to an increase higher operating expenses by RM13.6 million. Its retail Segment
saw revenue of RM857.5 million (9.4%) mainly contributed by, increase in Diesel
sales volume resulting in additional revenue contribution of RM532.1 million; and increase in Mogas sales volume
contributing additional revenue of RM270.3 million. Commercial Segment suffered
a decrease in revenue of RM278.0 million (2.3%)
mainly contributed by a decrease in Diesel sales volume by 287.3 million
litres resulting in lower revenue contribution by RM453.60million. The company declared a div of 17.5sen bringing full year
payout of 52.5sen thus far. Full year yield in the vicinity of 3.8%
6) Market - The strong rebound particularly in most telco
names have helped the KLCI maintain above the critical SMA 200 day levels. We
expect market to gradually grind higher as foreign issues in terms of the US
fiscal cliff and Euro sovereign debt issues reach acceptable compromises.
