FBM30 1651.61
-0.64points (-0.04%) Volume
1,193mil Value 1,303mil
1) KLCI was marginally lower paring its earlier gains as
investors remain on the sidelines before euro-area finance ministers meeting
this weekend. Regional were firmer on speculation of monetary easing by central
banks in the US and China before weaker China HSBC Manufacturing data which
shrank at its fastest pace in nine months saw gains reduced. Market breadth turned negative with decliners outpace
gainers 419:305. Futures closed 1654.5pts (3points premium).
2) Heavyweights: DIGI-0.61% RM4.88, PCHEM-0.76% RM6.50,
PETDAG-1.39% RM22.68, CIMB+0.51% RM7.85, IOICORP+0.39% RM5.12, ARMADA+2.72%
RM3.78, BAT+0.77% RM62.98
3) DBT: HUBLINE 2mil @ RM0.065, KASSET 1.5mil @ RM9.06
4) Situationals:
TSH-3.09% RM2.51: Share price fell after 1H net profit
fell 50% yoy to RM29.7mil on the back of
decrease of FFB production as well as lower average cost for CPO over Q2.
However TSH's 2H12 FFB production is expected to be stronger, and production
costs to normalise.
SCOMI+2% RM0.26: news reported SCOMI has had a
breakthrough in the Qatar market through its subsidiary company, Scomi Oiltools
(Cayman) Ltd, which has a won a Drilling Fluids contract worth RM130 million.
The contract won from Qatar Petroleum would be for a duration of three years in
Qatar.
5) UOADEV
1H JUNE 2012 Tover
+8.3% RM345.5m Net -19% RM159.4m EPS 12sen
Cons(f)
RM258.8m
Net earnings fell 19% YOY due to a lower fair value
adjustment on investment property of RM53m (The fair valuation gain on
investment properties of RM53.0 million was due to the recently announced
proposed disposal of office towers in the Horizon, Bangsar South.The fair
valuation gains will be recognised as realised gains upon completion of the
sales.). Apart from the fair value adjustment, revenue and profit was also
helped by the progressive recognition from the Group's on-going development
projects namely Setapak Green, Binjai 8, Camellia Serviced Suites, Le Yuan
Residence and the recently completed Kepong Business Park. The 2Q also saw the
successful completion of both Villa Pines and Kepong Business Park. The
construction works for Vertical Office Suites in Bangsar South commenced during
the quarter under review while the works for the recently launched Le Yuan
Residence and One @ Bukit Ceylon Hotel Suites are on schedule to meet the
targeted completion date.
The new sales for the quarter under review remained
robust, bringing the total new sales for the first half of 2012 to
approximately RM900.2 million. With new project launches such as Kencana
Square, Desa Green and Kiara IV slated
to commence in the second half. The total unbilled sales as at 30 June 2012
stood at circa RM814.1 million.
HOLD with stronger 2H numbers expected with the advance construction
stage of development projects such as Binjai 8, Setapak Green and Camellia
Serviced Suites where a substantial portion of the unbilled sales will be
recognised in 2012.
6) Market - Consolidation pattern between 1630pts-1650pts
on expectations of stimulus packages to be announced by the US and China.