FBMKLCI
1829.91pts -12.26pts (-0.67%)
Volume 1.551b Value 1.358b
1) The KLCI this week's gain closing down12 pts weighed by TENAGA, MAYBANK,
SKPETRO, DIGI despite the stronger U.S market after upbeat economic data and
earnings propelled the index to record levels before the Thanksgiving holiday.
In the regional scene, bourses were mixed to negative just before the pivotal
OPEC meeting tonight, SHCOMP +1.00% closed slightly above amid fresh buying in
anticipation of further monetary easing whilst HSI -0.45% and NIKKEI -0.78%
closed in the red. In the local market, TRADING/SERVICES -0.88% sector lost the most grounds dragged
by TENAGA -1.51%, SKPETRO -4.33%, AXIATA -0.97%, TM -1.93%. Market breadth was
negative today as gainers trailed losers by 567 : 252. Futures closed at 1833 (3 pts premium).
2) Heavyweights : TENAGA -1.51% RM14.30, MAYBANK -1.24%
RM9.55, SKPETRO -4.33% RM3.09, DIGI -2.03% RM6.27, TM -1.93% RM7.10, FGV -3.42%
RM3.38, ASTRO -2.88% RM3.37, CIMB +0.51% RM5.82.
3) DBT : NCB 73.991mil @ RM3.00 (15.73% PUC @ RM14%
premium) - MMC acquisition of MISC's stake, GOPENG 18.362mil @ RM0.81 (10.24%
PUC), QL 11mil @ RM3.43.
4) Situational:-
BRAHIMS -0.66% RM1.49 - Brahim's Holdings Bhd via its
subsidiary Brahim's Trading Sdn Bhd and Quantum Angel Sdn Bhd have undertaken
an investment of RM95.0m in the Malaysian and Singaporean franchise of Burger
King. The investment in the Burger King brand in Malaysia and Singapore
involves the acquisition of the entire 100.0% equity interest in Rancak Selera
Sdn Bhd, an investment holding company of Ekuiti Nasional Bhd. A special
purpose vehicle (SPV) would be incorporated post acquisition of Rancak Selera
whereby Brahim's would hold 80.0% equity interest in the SPV while Quantum
Angel will hold the remaining 20.0%, Brahim's said. The company added that it
would subsequently seek a strategic co-investor to take up between 30.0% and
40.0% new equity stake.
TEXCHEM +12.72% RM0.93 - Texchem Resources Bhd (TRB) has
entered into a share sale agreement with Asia Yoshinoya International Sdn Bhd,
one of the largest restaurants' operators in Japan, to dispose of its 28%
shareholding in Sushi King for RM102.2 million. The disposal will reduce TRB's
stake in Sushi King to 70.35% from 98.35% . TRB said the sale will be fully
satisfied in cash and it intends to use the proceeds from the proposed disposal
to repay part of the borrowings and to finance the expansion of its restaurant
business.
5) DRBHCOM
6 Months Revenue
+3.7% RM6,949m Net +35.6% RM200.9m EPS 10.39 sen
Net Profit ex exceptional items RM118.9m, 32.6% of FY3/15
cons Net RM364.7m
For the financial period ended 30 September 2014, the
Group’s revenue increased marginally by 3.7% to RM6.95 billion as compared to
RM6.70 billion in the previous corresponding financial period. All the business
sectors of the Group contributed to the growth in revenue with the highest
increase from the services sector boosted by Konsortium Logistic which was
acquired in Dec'13. The increase in Automotive sector’s revenue was mainly
attributed to the recognition of revenue from defence projects, higher sales of
motor vehicles and the inclusion of sales revenue from Composites Technology
Research Malaysia.
The Group achieved a higher PBT of RM361.19 million for
the financial period ended 30 September 2014 compared with RM323.84 million in
the corresponding financial period ended, an increase of 11.5%. However, net of
exceptional items, PBT is down 27% due to Proton's continued losses, lower
contribution of Pos M'sia & absence of contribution from the life &
general insurance arms which have been sold end of last year & at the
beginning of Q2.
With the prospect of their main business segment, the
automotive business, seeing more challenges ahead due to competition & the
tighter financing conditions of higher interest costs for purchasers, Proton
will continue to be a drag on Group's performance. Hence increasing its FY3/15
PER significantly to 15.4x based on annualised 6-month results, much higher
than market consensus PER of 9.5x. Sell
6) Market: tomorrow's trading will be dictated by the
OPEC meeting decision tonight & window dressing activities.
