FBMKLCI
1869.08 -2.44pts (-0.13%)
Volume 1.152b Value 1.516b
1) The KLCI slipped today after the US closed on a mixed
note as the nation awaits the release of jobs data tonight. In the regional
market, bourses were mixed as the NIKKEI -0.19% closed flat while the HSI
+0.57% closed just slightly higher behind the better China PMI data for the
month of April; SHCOMP remained closed and will resume trading on the 5th. In
the local scene, liquidity of the market remained subdued as the country
settles down for the long weekend following Labour Day; Penny names such as SUMATEC
+7.69%, ASUPREM -12.12%, CSL +3.70%, MAS 0.00% led the list of top volume.
Market breadth was negative with gainers once again beating gainers by 422 :
355. Futures closed at 1866.5 (3.5pts discount).
2) Heavyweights : PBBANK -0.99% RM19.94, CIMB -1.19%
RM7.42, PPB -1.58% RM16.20, IOICORP -0.80% RM4.96, MISC -1.22% RM6.43, PCHEM
+1.63% RM6.84, PETGAS +0.85% RM23.70, SIME +0.53% RM9.49
3) DBT : PDZ 7.3mil @ RM 0.1598, MAYBANK 3.49mil @
RM9.3915, TIGER 3.4mil @ RM0.14.
4) Situational:-
SUMATEC +7.69% RM0.28 - Sumatech began rig operations at
its Rakushechnoye Oil Field in Kazakhstan. The first well was due for
completion and production within 3 weeks from the initiation date. By the end
of 2014, Sumatec planned to have 15 oil-producing wells and is expected to
achieve its target of 2,000 barrels a day from these wells.
5) WESTPORT
1QFY14
Revenue+4% RM363.16mil Net+38.3% RM109mil EPS 3.2sen
9.1% below consensus FY est RM481.75m
YoY: Excluding the impact of the management service
agreement, Operational revenue advanced by 11.4% year-on-year to RM348.3
million in 1Q 2014 underpinned by strong growth in container throughput which
rose by 11.7% year-on-year to 1.93 million TEU.
The better-than-expected container throughput was attributable to robust
growth in all trades lanes especially from Asia-Australasia (+31%) and
Asia-Africa (+25%). Intra-Asia, which accounts for half of the volume of
Westports, grew by 7%. The Group recorded profit before tax of RM131.6 million
for Q1 2014 compared to RM105.1 million for the quarter ended 31 March 2013, an
increase of 25%, which is due to increase in container throughput and savings
of the management fee arising from termination of MSA. However on a normalised
basis, after excluding the management fee, the profit before tax grew by 10%.
QoQ: The Group achieved a profit before tax of RM131.6
million for the quarter under review. This is RM0.1 million higher compared to
the RM131.5 million profit before tax achieved in the immediately preceding
quarter ended 31 December 2013.
Going forward, Container Terminal 7 measuring 600-meter
in quay length will be fully operational by the end of 2014 with the gradual
delivery of seven high specifications ship-to-shore cranes. Once CT7 is fully
operational, the Group’s handling capacity is expected to increase from 9.5
million TEUs to approximately 11.0 million TEUs per annum. This will more than
compensate for the slight reduction in TEUs assuming P3 alliance
materialises. Hold with dividend yield
of over 4%.
6) Mkt: Upcoming results season to set the tone for
market outlook. Expect to see support at 1850 pts level.
