FBMKLCI 1637.63
+13.49pts (+0.83%)
Volume 1,010mil Value RM1,976mil
1) KLCI erased Feb losses and closed at a 1 month high as
key heavyweights led by CIMB and PBBANK were firmer inline with the positive
regionals (HSI+2%, SHCOMP+2%) as markets rallied given recent slew of positive
economic data from the US. Investors will now look ahead if US could avoid
automatic spending cuts due to kick in by 1st March. Market breadth was
positive as advancers outpace decliners 394:283. Future closed 1635.5 (2points
discount)
2) Heavyweights: CIMB+1.27% RM7.20, PBBANK+0.88% RM16.12,
UMW+4.07% RM12.80, BAT+4.74% RM61.00, GENM+3.64% RM3.70, AXIATA+0.95% RM6.40,
PCHEM+1.60% RM6.35, GENTING+0.74% RM9.49
3) DBT: SEG 2mil @ RM1.70, NAKA 1.725mil @ RM0.50 (3.11%
PUC)
4) Situational:
UMW+4.06% RM12.80: Company recorded a surge in net profit
to RM951mil compared to RM465.2mil in 2011 with all four core business segments
recording better profits for the year. News reported company has hired
investment banks to facilitate IPO for its O&G division slated for 2H. The
group has also taken delivery of NAGA-4 which will be revenue-generating.
5) Alam Maritim: FY12/12 Rev+63% RM502m Net+341% RM60m
EPS 7.6s
Results 16% ahead of cons RM51.6m
For FY, group recorded Revenue growth of 63%. Rev from
OSV segment was lower by 13% due to lower revenue received from owned &
third party vessels. This was more than compensated by higher revenue derived
from Subsea Services / OIC segment which soared 847%, with contributions coming
from OIC contracts namely SOGT, projects awarded by Samsung Engineering and E8 & F13K Modules offshore facilities
transportation & installation contract. PBT +270%, with the increase in OSV
segment +411% coming from increased share of results of associates & JV
entities, while PBT from Subsea/OIC segment+185% ( boosted from contribution
margin derived from OIC contracts. Qoq, Rev+44%, PBT+16%. Prospects for Alam
remain bright with the significant capital & operating expenditure budget
announced by Petronas & other oil majors, but this will be negated by
margin compression arising from consolidation amongst domestic players &
emergence of new players.
6) Mkt: Unchanged range bound trading to continue with
elling likely to re emerge around the 1650pts levels as funds lighten up ahead
of uncertain election outcome.
