FBM30 1582.73 +3.5pts ( 0.22%) Volume 941.1m Value RM1.64b
1) The KLSE opened higher, in tandem with the region,
after projections showed pro-bailout parties won control of Greece's parliament
in an election viewed as a referendum on whether the debt strapped country will
exit the Euro. The KLCI traded within a 6 pts range, on the back of improved
interest in the market. Notable gainers were the rubber-gloves & properties
segments, SUPERMAX+6.1%, LATEXX +4.1%, TOPGLOVE+2.1%, UEMLAND +3.1%,
SUNWAY+4.1%, E&O+2.9%, L&G+7%. Broader market was positive, with
gainers thumping losers 500:236. Futures closed 1581.5 pts (1.23 pts disc).
2) Heavyweights: PARKSON+6.5%, MRCB+7.8%, BAT+5.1%,
BOUSTEAD+3.5%, DRB+2.9%, BJTOTO-1.9%, IOI -1.3%, GENTING-1.3%.
3) DBT: PHARMA 7.8m @ prices between RM5.35-RM5.46 (
35-37% disc to closing px), MAXWELL 4.5m @ RM0.40, BAHVEST 3.5m @ RM0.30.
4) Situationals:
OSK +4.4% RM1.41 :
after OSK director Ong Leong Huat said that Co may seek a new core
business after selling off it's investment banking business to RHB Capital.
However, he added the focus for now is to ensure the completion of the deal.
The transaction is expected to take another 3 months for completion.
YTL Power +1.2% RM1.68 : Group announced that YTL
Education (UK) Ltd , an indirect subsidiary of YTL Power, has acquired 52,347
ordinary shares in Frogtrade Ltd for GBP 5.55m in cash. Following the
acquisition, YTL Education will hold an equity stake of 57.58% in Frogtrade,
which is principally involved in the business of providing internet services,
including development of education learning platforms.
5) BJToto
FYE 4/2012 Tover
+5% RM3.6bn, Net +15% RM411.7m 30.1sen 2.6% above cons(f) RM401.1m
Compared to the previous year corresponding quarter ended
30 April 2011, the Group registered an increase in revenue of 1.6% mainly
attributed to the higher revenue reported by Berjaya Philippines Inc. group as
well as improved revenue reported by International Lottery & Totalizator
Systems, Inc. resulting from recognition of certain project contract sales in
the quarter under review. However, the Group recorded a decrease in pre-tax
profit of 10.3% mainly attributed to the results of Sports Toto Malaysia as a
result of higher payouts but mitigated by the higher pre-tax profit reported by
Berjaya Philippines Inc. group and International Lottery.
For the financial year under review, the Group recorded
an increase in revenue and pre-tax profit of 5.1% and 13.4% respectively
compared to the previous year ended 30 April 2011. The improved performance of
the Group was primarily attributed to the improved results of Sports Toto.
Sports Toto recorded an increase in revenue and pre-tax profit of 4.8% and 9.8%
respectively compared to the previous year ended 30 April 2011 mainly
attributed to strong sales from its Jackpot games in the financial year under
review. The increase in pre-tax profit of 9.8% was mainly attributed to the
lower prize payout in the financial year under review.
In addition, with the targeted completion of the proposed
listing of STM-Trust on SGX-ST in the third quarter of financial year ending 30
April 2013, the Group will continue to consolidate the earnings from Sports
Toto for the financial year ending 30 April 2013 subject to certain dilution
effect arising from the Proposed Placement and Proposed Public Issue. It declared a final div of 5sen bring full year div to
27sen, representing about 89.5% of the attributable profit of the Group for the
financial year ended 30 April 2012. Hold as price to be sustained by its attractive yield of
6.3%.
6) Market -
Direction of the market will continue to be event driven, with the next stop
being the two day G 20 Summit and the US FOMC mtg announcements.
