FBMKLCI
1778.36 -9.88pts (-0.55%)
Volume 3.158b Value RM2.441b
1) The KLCI opened at day's low -16.59pts as key
heavyweights saw selling pressure following US market which closed weaker last
Friday amid concern of the Fed reducing stimulus next month. Global sentiments
were mixed as trades were cautious just before the FOMC meeting this Wednesday.
Index was weighed by Finance- 0.75% led by CIMB -1.74, RHBCAP -1.73%,
AMBANK-1.3%. Market breadth was negative with losers surpassing gainers by 515
: 339. Futures closed 1774pts ( 4pts discount).
2) Heavyweights : CIMB -1.74% RM7.90, GENM -2.09% RM4.21,
SKPETRO -1.81% RM3.78, GENTING -2.09 RM4.21, AMBANK -1.38% RM7.85, PPB -2.04%
RM14.36, MAYBANK -0.38% RM10.44, PBBANK +0.34% RM17.30
3) DBT : HUBLINE 21.4mil @ RM0.05, TROP 16.5mil @
RM1.6885 (1.497% PUC @ 3.6% discount), BORNOIL 2mil @ RM0.51
4) Situational:-
MAS +10.60% RM0.365 - Share price rose to a high of 40sen
after Tun Dr Mahathir Mohamad was reported being supportive of the proposed
privatisation of Malaysian Airline System Bhd (MAS) as he believes that it
would help the national carrier become a more profit-driven entity. However,
Prime Minister Datuk Seri Najib Tun Razak was quoted saying MAS will not be
privatised when asked to comment today.
5)CBIP : HY 06/13
Rev+11% RM293.8m Net -80% RM37.5m EPS 14.14s Div 5
Results trails, only makes up 41% of FY cons RM91.7m
For 6 months yoy, higher revenue was due to improvement
in the palm oil equipment & special purpose vehicle segments. However PBT
was 10% lower, due mainly to share of higher loss of jointly controlled entity
& lower contribution from the associates. PAT numbers are not comparable as
there was a one off gain on disposal of RM139m in the previous year. The palm
oil equipment segment recorded higher revenue & PBT by 4% and 5%
respectively while the special purpose equipment segment recorded higher
revenue & PBT of 20% and 23%. Qoq, revenue-2%, while PBT 9%, due to lower
project billing during the current quarter; Hold - CBIP hopes to secure
RM350mil to RM450mil worth of contracts in FY13F. Unbilled sales of RM390mil as
at end- March 2013 should sustain the group's profits for another 1 ½ years.
Potential contracts in FY13F are expected to consist of orders for new mills,
conversion of conventional mills to Modipalm and boiler contracts. CBIP's
valuations are undemanding, FY14F PE of 8x.
6) Market : increasing concerns on growth, current
account deficits & fiscal balances in the Asean countries and their impact
on their currencies will continue to be a drag on the core blues & other
institutional stocks as foreign funds reallocate their funds to the other
emerging market.
