FBMKLCI
1774 -2.73 pts ( -0.15%) Volume 2.34b
Value RM2.86b
1) The KLSE succumbed to profit taking, after chalking
strong gains the past 2 trading days, trading in the red for much of the day
before closing 2.73 points lower. This on the back of stronger regional markets
as China exports topped estimates & some companies posting better than
expected earnings. Construction -1.4% & Properties -1.3% sectors, trimmed
some of the gains recorded the past 2 days, GAMUDA -1.5%, MRCB -3.7%,SPSETIA
-4.4%, UEMLAND -2.4%. Market breadth turned negative with losers edging gainers
423:391.Futures closed 1770.5 pts ( 3.5 pts disc) .
2) Heavyweights : ASTRO+2% RM3.10, NESTLE+2.2% RM64.40,
SIME+0.5% RM9.45, PETGAS+1.9% RM20.50, MMC+2.2% RM2.79, MAYBANK-1.2% RM10.16,
AIRASIA-1% RM3.02, CIMB-0.9% RM8.57, DRB-2.2% RM2.64, GENM-2.6% RM3.79,
TENAGA-1% RM8.29.
3) DBT : FRB-OR 38.6m @ RM0.005, SUNREIT 8.4m @ RM1.64,
CREST 6.5m @ RM0.98 ( 5% discount to close).
4) Situationals:
TM +0.4% RM5.50 :
After media reported that Group has sufficient cash to settle its RM2.0b sukuk
ijarah expiring at the end of the year and remains committed to return
RM700.0m, or up to 90.0% of normalized net profits, to its shareholders. As at
Dec 31, 2012, TM had cash and bank balances of RM3.7b while total borrowings
stood at RM7.1b. The group had its capital expenditure (capex) investment
covered, despite having to pay off its sukuk. TM spent about RM2.5b in 2012.
HBGLOB-17.6% RM0.14: Share price fell after company
announced it is considered a PN17 company resulting from HBGLOB's external
auditors expressing a disclaimer opinion in the company's latest annual report.
Auditors were not able to satisfactorily
and independently substantiate the bank balance of the subsidiary company. In addition auditors were not able to receive
reliable independent confirmations on majority of the trade receivables and
trade payables that were circularized.
5) PERISAI
1Q Mar 2013 Tover
+0.5% RM31.7m Net -0.6%
RM25.6m EPS 2.74sen
Inline with cons (f) RM98.93m
Yoy net profit was marginally lower due to cost of share
options under ESOS of RM1.847mil as well as higher financing cost. This was
offset by realized FOREX which was RM1.62mil.
QoQ PBT inclusive of discontinued operations were
approximately RM25.6mil compared to RM15.2mil in 4Q. This was because mainly
due to the impact from the impairment exercise which was carried out in the
previous financial quarter equivalent to RM24.9mil.
Going forward, company's earnings will be enhance from
the acquisition of FPSO despite the sale of 49% in Enterprise 3. This deal is
expected to be completed by 3Q2013. 2 more rigs will be delivered in July 2014
and April 2015 respectively that is expected to further grow its earnings base
for FY14 and FY15. - Accumulate as it currently trades at 12xFY13 with CAGR of
24% for next 2 years.
6) Market: With the market in the mood to consolidate its
recent gains, any developments in tonight opposition rally will be particularly
sensitive for tomorrow's trading. Further ahead, market is likely to continue
its uptrend, accumulate on weakness MRCB, DRBHCom, Naim, Benalec & MAS-OR.
