FBM30 1640.33
-2.62 points (-0.16%) Volume
843mil Value 1,876mil
1) KLCI surged to high of 1651.66 (+8.71pts) paced by
gains in banks and Telcos before succumbing to selling pressure in line with
the negative regionals which fell as ongoing feud between China and Japan
reduce appetite for risker assets while reluctance by Spain to seek a bailout
cast doubts on ECB's plans to fight the Eurozone crisis. Index ended at day's
low on hit down of GENM, PCHEM and BAT. Market breadth turned negative with losers
edging gainers 402:345. Futures closed 1633pts (6.7 points discount).
2) Heavyweights: PCHEM-2.3% RM6.38, GENTING-1.1% RM9.03,
AIRASIA-4.19% RM2.97, GENM-1.88% RM3.65, BAT-1.55% RM62.40, MAYBANK+0.64%
RM9.46, AXIATA+0.83% RM6.12, DIGI+0.82% RM4.94
3) DBT: YINSON 3mil @ RM1.82, SDRED 2.6mil @ RM0.71
4) Situationals:
TWSCORP+17.44% RM1.01: Company has received a takeover
offer from its largest shareholder Perspective Lane (M) Sdn Bhd and two
sister companies. The privatisation will be done via a selective capital
reduction and repayment exercise. They will pay RM1.10 for every cancelled
shares. The SCR of 347 million shares will reduce TWSCORP issued and paid-up
capital from 1.11 billion shares to 759.03 million shares.
5) BJToto
1Q 07/2012 Tover
+6.4% RM899.9m, Net +22.4% RM114.7m EPS
8.4sen DPS6.5sen
Excl gain
on disp of inv, 4% below cons(f) RM401.7m
Sports Toto, the principal subsidiary, recorded a growth
in revenue of 6% as compared to the previous year corresponding quarter mainly
attributed to strong sales from high jackpot in the Power Toto 6/55 game and 3
months' sales contribution from the 4D Jackpot game. The increase in pre-tax
profit of 14.9% was mainly due to lower prize payout in the current quarter
under review.
Berjaya Philippines Inc.group reported an increase in
revenue and pre-tax profit of 9.8% and 41.7%, respectively. The improved
results of BPI was mainly contributed by the higher lease rental income arising
from the improved sales registered by the Philippine Charity Sweepstakes Office
as well as the recognition of gain on disposal of certain quoted investment in
the current quarter under review.
The higher percentage increase in Group pre-tax profit
was also attributed to the realised gain on disposal of unquoted investment of
approximately RM8.8million. Both the gains totalled RM18.6m in the Q.
The proposed listing of STM-Trust on SGX-ST is targeted
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.
Comments: Upon the listing of STM Trust, BJToto may loose
some of its luster as investors may be forced to hold a foreign portion and
holding in its principal subsidiary is diluted to 79.5% from 100%. Currently
continued to be supported by its attractive yield of 6%.
6) Market - Maintain tighter range trading between
1615-1650pts.