FBM KLCI
1788.43 +0.53 pts (
+0.03%) Volume 2.25b
Value 2.68b
1) The KLSE succumbed to mild profit taking after it's
strong showing yesterday, with the index swinging narrowly between gains &
losses throughout the session before closing with a marginal gain of 0.5 pts .
This on the back of mixed regional market as concerns on China's economy grew.
Plantation +0.6% & Consumer Products+0.7%
bucked trend, IOICORP+2.4%, JAYATIASA +2.5%, GAB+2.2%, QL+1.2%. Market
breath turned negative, with losers outpacing gainers 504:398. Futures closed
1786 pts ( 2.43 pts disc)
2) Heavyweight : AIRASIA+3.5% RM3.21, BAT+1.2% RM64.78,
DIGI-1.5% RM4.73, MISC-0.9% RM4.36, BURSA-1.1% RM7.79, GENTING-0.8% RM10.90,
MRCB -2.9% RM1.68
3) DBT : DIJACOR 8.24m @ RM1.60, CRESTBLD 3m @ RM1.10,
GLOTEC 2.52m @ RM0.05 ( 29% below closing px)
4) Situational:
I-BHD -6.6% RM2.84 : After Co announced that it has
sealed a joint venture agreement with Thailand based mall specialist CPN Global
Company Ltd to build a shopping mall at iCity in Shah Alam. Under the agreement
signed on Monday, CPN will incorporate two companies -- CPN Real Estate Sdn Bhd
and CPN Malls Malaysia Sdn Bhd to jointly hold a 60.0% stake in the JV with
i-City Properties Sdn Bhd, a unit of i-Bhd. I-Bhd also announced Q1 results
which saw it's current year quarter Revenue increasing 215% & PAT improving
5x.
5) BHIC
1Q Mar 2013
Tover +14.2% RM64.4m Net
RM5m EPS 2c
The higher top
line arose from chartering income which benefitted from improved utilization of
the tankers coupled with better charter rates. The Group achieved a turnaround
by reporting a profit after tax of RM5.0 million against last year's net loss
of RM14.1 million. The heavy engineering segment registered a profit as its
performance was no longer impacted by costs from the old shipbuilding projects.
Furthermore, the share of profit in associate companies was relatively better
on the back of higher progress achieved on the Littoral Combat Ship (LCS)
project.
The manufacturing segment's result was favourable as
compared with the first quarter of last year owing mainly to a defence related
project it is undertaking. Conversely, the chartering segment incurred higher
losses despite attaining commendable revenue largely because of foreign
exchange losses attributed to unfavourable exchange rates.
The investment community is likely to continue to take a
wait and see approach on this counter as despite its relatively large order
book of RM3bn, the company has failed to deliver on execution in the past.
6) Market - Rotational play to continue with an immediate
resistance for the KLCI at 1800pts.
