FBM 1645.53
-0.10pts (-0.01% ) Volume
1,207mil Value RM1,709mil
1) KLCI failed to sustain its morning gains (HI: 1649.94
+4.31pts) as Telcos led by Axiata and Digi continued to weighed on the markets
despite seeing the rebounding in regionals after US President Barack Obama was
re-elected ensuring Fed Reserve could continue its quantitative easing
policies. Market breath remained negative, with decliners leading gainers
367:310. Future closed 1640.5 ( 5.03 pts discount) .
2) Heavyweights: AXIATA-3.2% RM5.83, DIGI-1.38% RM5.02,
TM-1.58% RM5.60, PBBANK+1.18% RM15.50, GENTING+1.53% RM9.30, TENAGA+0.72%
RM7.00, KLBANK+1.66% RM14.68, GENM+1.42% RM3.58
3) DBT: TIGER 9.86mil @ RM0.40 (3.2% PUC), COMPUGT 6mil @
RM0.085, MAHSING 2mil @ RM2.28
4) Situational:
FAVCO+0.6% RM1.7024: Announced that its wholly-owned
subsidiaries, Favelle Favco Cranes (M) Sdn Bhd and Favelle Favco Cranes Pte
Ltd, has received purchase orders for the supply of offshore crane and crane
and Winches Dosh inspection for the month of October worth RM58.5 million.
5) GAS Msia
9mths Sep 2012
Tover +7.1% RM1.57bn Net -31%
RM117.3m EPS 9.14sen
5.6% above cons(f) RM148m
The Group‟s revenue for the nine months increased 7.1%
YOY as a result of the increase in Natural Gas and LPG segment‟s revenue during
the nine months period ended 30 September 2012 to respective comparison above
was mainly due to higher volume of gas sold by 2.2% and the upward revision in
Natural Gas tariff which was effective beginning 1 June 2011.
The profit however decreased, 30.3% compared to RM221.8
million in the corresponding period last year, mainly due to margin compression
resulting from the revision in gas tariff. Based on the company’s dividend policy of 100% payout
this year and 75% subsequent year’s , at current levels expect a yield around
the 4.5%. Defensive hold.
6) Market – With the uncertainty of the US elections now
out of the way, markets should resume its traditional 4Q rally. The KLCI
however could remain under pressure or consolidate at best with the current
exodus from telcos and weaker 3Q results expected from the plantation sector
over the next few weeks.