FBMKLCI
1700.39 -6.29pts
(-0.37%) Volume 742.44mil
Value RM1,405mil
1) KLCI saw profit taking but managed to hold above
1700pts level as overall markets were affected by weaker than expected US home
sales overnight while China's HSBC manufacturing PMI for April also came below
consensus at 50.5. Investors continued to shy away as volume traded remained
thin ahead of GE13. Construction-0.82% underperformed led by IJM-0.9%,
GAMUDA-0.7% and MUDAJAYA-2.3%. Market breadth was negative with decliners
trouncing advancers 470:202. Futures closed 1695.5pts (5pts discount).
2) Heavyweights: KLK-1.57% RM21.30, TENAGA-0.64% RM7.83,
MAYBANK-0.41% RM9.73, CIMB-0.39% RM7.73, DIGI-0.64% RM4.64, IOICORP-0.6%
RM4.96, AXIATA-0.3% RM6.72
3) DBT: PMCORP 14mil @ RM1.82 (1.8% PUC), PELIKAN
10.36mil @ RM0.50 (2% PUC, 7.4% discount), HARNLEN 8.92mil @ RM0.76 (4.8% PUC)
4) Situationals:
BHIC-0.45% RM2.22: BHIC announced that its subsidiary
Contraves Advanced Devices Sdn Bhd has received 2 letters of award (LOA) from
20% associate, Boustead Naval Shipyard (BNS) (which is also a subsidiary of
Boustead Holding which in turn is BHIC Major shareholder), to supply i) Thales
Underwater Systems CAPTAS Towed Array Sonar complete with simulator, and ii)
Thales Nederland BV SMART-S Main Surveillance Radar with simulators for the
Littoral Combat Ships Programme at a total value of RM287m and RM228m
respectively.
5) BAT
1Q Mar 2013
Tover +5.2% RM1.096bn Net +5%
RM204.2m 71.5sen
In line with
(f) RM820m
Although domestic and duty free market remained stagnant
at 2.1bn sticks (vs 2.3bn 2012) export contract manufacturing for cigarettes
and processed tobacco improved to 4.3bn stick (vs 2.6bn 2012) to Australia,
Singapore and Korea. BAT managed to increase market share by 0.8% to 61.5%.
Dunhill reached a market share of 47.1% while its Aspirational Premium
portfolio was stable at 8.5%.
In the 1Q, the legal market experience a shrinkage of 6%
following Oct 2012 price increase due to growth of illicit white.
The company declared an interim dividend of 68sen which
is line with its forecast pay out of 274 sen, yielding 4.4%.
6) Market - Current weakness is an opportunity for
investors to buy recent favourites at attractive levels. BOW Tebrau, Huayang,
Maybulk, Alam, Naim.
