FBMKLCI 1783.88
-3.5 pts (-0.2%) Volume 2.88b Value RM2.97b
1) The KLSE continued on it's uptrend in the morning
session, spurred on by a stronger Dow & higher Asean markets. It however
succumbed to fairly sharp profit taking in the afternoon, the index swinging
more than 14 pts, before closing just 3.5 pts lower. Selling was widespread,
with all sectors in the red. Volume was dominated by penny names, LUSTER+6%,
THHEAVY+4.6%, KNM+6.8%, PATIMAS+22% in fairly active trading. Property -1.8%
underperformed, UEMLAND-2.6%, SUNWAY-2.5%, MAHSING-2.2%. Market breath turned
negative, with losers outnumbering gainers 618:323. Futures closed 1776 pts (
7.88 pts disc).
2) Heavyweights : AIRASIA-1.2% RM3.24, GENTING-1.9%
RM10.50, MAYBANK-1.4% RM10.08, MRCB-2.2% RM1.75, IOICORP-1.7% RM5.26, CIMB+1.4%
RM8.62, CARLSBG+1% RM16.22, POS+4.3% RM4.83, TNB+0.5% RM8.34.
3) DBT : ASUPREM 5m @ RM0.20 ( 15% below day's low),
PJI-WA 4.3m @ RM0.06, GOPENG 4m @ RM0.80.
4) Situational;
BUMI ARMADA+1.5% RM4.04 : after Co reported that it's
earnings rose 22.0% to RM109.7m in the first quarter ended March 31, 2013 from
RM89.7m a year ago. The earnings were underpinned by increased activities in
its offshore support vessel, transport and installation services and floating
production. Its order book was RM12.2b of which RM7.9b were firm contracts and
the rest were optional extensions. Its revenue rose 44.0% to RM488.8m from
RM335.1m a year ago. Earnings per share were 3.74 sen compared to 3.06 sen last
year.
5) KLK
6months Mar 2013
Tover-17.8% RM4556m Net-15%
RM470.5mil EPS 44.2sen
13.6% below Cons(f) RM1090mil
Yoy Plantation profit fell 33.1% mainly due to fall in
price for CPO from RM2,777/MT to RM2,271/MT and Palm Kernel prices falling from
RM1,613/MT to RM1,071/MT. This was offset by higher yield particularly in Sabah
and maturity in Indonesia.
Manufacturing jumped to RM145.3mil from RM41.1mil despite
revenue falling 10%. This is mainly attributed from better margins from lower
raw material prices.
Property profits doubled to RM36.3mil on the back of
62.8% increase in revenue mainly from contributions for projects in Bandar Seri
Coalfields, Sungai Buloh.
QoQ Plantation profit declined 29.5%, Manufacturing+26.6%
while property was 25.3% lower.
Maintain Hold as plantation division will continue to be
affected by low CPO prices but overall performance is mitigated by the
manufacturing division, especially with 3 additional refineries and an
oleochemical plant operating by the end of the calendar year.
6) Market - is expected to consolidate or pull back as
traders square their positions ahead of the long weekend.
