FBM30 1560.57, +3.42 points (+0.22%), Volume 1,894.5mil, Value 1,747mil
1) KLCI recovered from morning losses staging a slight rebound from low of 1558.13pts (-2.44pts) after Eurozone finance ministers approved the rescue plan for Greece eliminating concerns of a Greek default next month with focus now on Greece's implementation of its budget cuts and austerity measures. Banks (MAYBANK+1%) and telcos (MAXIS+3%, TM+1.5%) led index higher as investors' focus switch to the reporting season. Market breath was negative with decliners leading gainers 442:370. Futures closed 1568.5 (8 points premium).
2) Heavyweights: MAYBANK+1.05% RM8.70, MAXIS+2.93% RM5.98, AXIATA+0.8% RM5.04, TM+1.44% RM4.93, KLK-0.58% RM24.00, YTL-2.65% RM1.47, AMMB-1.14% RM6.07, BAT-1.67% RM53.00
3) DBT: EDARAN 11mil @ RM0.305 (18% PUC), FABER 8.4mil @ RM1.73 (2.3% PUC), MNRB 7mil @ RM2.67 (3.3% PUC)
4) Situationals:
MITRA+1.57% RM0.645: company has been awarded 3 projects totaling RM181.56mil. Two jobs have been awarded by Prasarana for civil works and external works for 4 stations in the Kelana jaya and Ampang lines worth RM102.13mil. The remainder comes from Putrajaya Holdings Sdn Bhd for construction of medium-cost public apartments.
NILAI+7.7% RM1.40: Nilai Resources Group Bhd climbed after the major shareholders Akarmas Sdn Bhd, and Tan Sri Dr Gan Kong Seng which collectively holds 55.1% Equity had proposed the selective capital repayment of RM1.50 per share.
5) UNISEM
FYE Dec 2011 Tover -15% RM1.16bn Net RM19.7m 2.92sen
32% below cons (f) RM28.8m
Decline in revenue and profits principally attributable to reduction in overall group sales, depreciation in US/RM ex rate and higher depreciation. This saw European and US operations sink into the red. The difficult conditions continued into the 4Q resulting in an overall net loss of RM2.66m.
Despite the managements efforts to contain cost and realign its business model plus the anticipated recovery in the semicond ind , this may not be enough for the company to achieve this consensus forecast of RM60.43m. Reduce.
6) Market - Rotational plays to continue with focus likely to shift to GLCs, the expected main beneficiaries of ETP related contracts ahead of imminent elections.