FBMKLCI
1815.16 +10.04 (+0.56%)
Volume 1.268b Value 1.516b
1) The KLCI outperformed today shrugging off geopolitical
concerns from Crimea which weighed the US market to close weaker on Friday. The
regional market was mixed with SHCOMP +0.96% closing in positive territory
after the government outlined urbanization plans; the PBOC also doubled the
trading band of the Renminbi starting today as part of broad financial reforms;
HSI -0.30% however closed in negative territory weighed by the weaker US
market. In the local scene, CONSTRUCTION index +2.03% outperformed in the
market boosted by gains in GAMUDA +0.60%, IJM +1.18%, WCT +1.94%, after the Fed
government approved the construction of line 2 of the KVMRT project. Market
breadth was however negative with losers beating gainers by 436 : 300. Futures
closed at 1816.5 (1.5pts premium).
2) Heavyweights: PBBANK +0.63% RM19.10, AXIATA +0.93%
RM6.50, IHH +2.71% RM3.79, TENAGA +0.67% RM12.00, PPB +2.61% RM16.08, MAYBANK
+0.52% RM9.55, ASTRO +4.33% RM3.13, SIME +0.65% RM9.20
3) DBT: FPI 69.26mil @ RM0.80 (28% PUC @ 9.7% discount),
GUNUNG 2.8mil @ RM0.89 (1.97% PUC @ 4.7% premium), HOHUP 2.5mil @ RM1.51 (1.20%
PUC).
4) Situational:-
TAS +2.50% RM1.23 - TAS Offshore Bhd's subsidiary has secured
a MYR13.2m contract for the sale of a vessel, which is expected to be delivered
in April next year. TAS Offshore said the vessel was sold to one of its new
foreign customers. Revenue generated from the deal is expected to contribute
positively to its earnings and net assets for financial years ending May 31
2014 and 2015.
5) BJTOTO
9mths Tover +10.6% RM2.98bn Net -18% RM254.6m EPS 19 sen
15% below cons (f) RM398.4m
The increase in revenue was mainly attributed to the
consolidation of H.R. Owen Plc's revenue in the current quarter. The drop in
pre-tax profit was mainly due to results of Berjaya Philippines Inc ( mainly
due to lower lease rental income earned as a result of lower sales reported by
Philippine Charity Sweepstakes Office) coupled with corporate exercise expenses
incurred pursuant to the cash offer for H.R. Owen and residual costs incurred
in the proposed listing of STM Trust (which was aborted).
Sports Toto also recorded a decrease in pre-tax profit of
2.8% mainly due to marginally higher prize payout in the current quarter.
Excluding the corporate related expenses, the drop in the
Group's pre-tax profit would have been 4.1% vs (12%)
We expect numbers to normalise in the 4Q and price will
continue to be supported at these levels based on a 7% yield. HOLD
6) Market - Choppy trading to continue with immediate
support remaining at the 200 sma levels of around 1800pts for the KLCI.
