FBM30 1653.52
-0.92points (-0.06%) Volume
975.3mil Value 1,261mil
1) KLCI rose in morning session reaching a high of
1658.50 (+4.06pts) after DOW rose on better than expected retail sales and
corporate earnings. Index however fizzled by midday as heavyweights led by
Telcos succumbed to profit taking following recent record rally. Market breadth
was marginally positive with advancer edging decliners 337:334. Futures closed
1653pts (1.5 points discount).
2) Heavyweights: CIMB-1.44% RM7.55, MAXIS-1.72% RM6.85,
AXIATA-0.46% RM6.47, SIME-0.41% RM9.75, TM-0.8% RM6.23, MAYBANK+1.57% RM9.08, BAT+4.17% RM63.88, RHBCAP+2.34% RM7.42
3) DBT: CBSA 20mil @ RM0.47 (8.3% PUC, 22% premium),
FLBHD 9.1mil @ RM0.54 (8.8% PUC, 14.3% discount), HOOVER 6.4mil @ RM0.25
(16% PUC, 14% discount)
4) Situationals:
SCOMI-5.7% RM0.415: Scomi price dipped after group
announced that they're cancelling the sale of its subsidiaries - Scomi Oilfield
Ltd, Scomi Sosma Sdn Bhd and Scomi KMC Sdn Bhd worth RM783.51 million. The
decision was reached after taking into consideration the performance of the
company's shares between July 24, when the sale was proposed, and Oct 12.
5) GLOMAC
At a media briefing today, Glomac Bhd highlighted that it
is banking on projects with estimated gross development value of RM4.55 billion
beyond the 2013 financial year to anchor its future growth. The projects
include developments in Puchong, Sungai Buloh, Cyberjaya, Rawang and Johor, in
addition to the group''s unbilled sales stood at a record high of RM763 million
as at July 2012. For FYE April 30, 2013 it estimates launches of RM1.1 billion
across various projects.
Dividend payment is also expected to be maintained at
least 5.5 sen per share in Fy 2013, providing an attractive yield of 6.4%.
Trading at it low of below 0.4x P/Bk, we feel the stock
is undervalued.
6) Market - Range bound trading maintained between
1640-1660pts levels