FBMKLCI
1775.12 -4.45 pts (-0.25%) Volume 1.73b Value
RM2.23b
1) Sentiment on the KLSE remained cautious as the index
traded in negative territory throughout the sessions. There was little
encouragement from the regional markets, weighed down by concerns that central
banks from Japan to US are increasingly reluctant to add stimulus. Selling was
widespread throughout the sectors, with the exception of the Technology sector
+1.96% , which recorded gain on the back of JCY+4.9%, UNISEM+3.1% . Market
volume dominated by penny stocks, ETITECH+57%, MALTON +9%, LUSTER -7% . Market breath was negative, with losers
dominating gainers 487:278. Futures closed 1771.5 pts ( 3.62 pts disc). .
2) Heavyweights : GENTING+4.9% RM14.90, IJM +1% RM5.79,
SPSETIA+2.3% RM3.50, UEMLAND+0.6% RM3.26, IOICORP-2.2% RM5.30, AIRASIA-2.7%
RM3.26, GENM-2.3% RM3.89, UMW-2.9% RM14.30, WCT-3.1% RM2.51, AXIATA-1.8%
RM6.60.
3) DBT: OSK 286.8m shares @ RM1.50 ( c11% discount, 29.6%
PUC reflecting TS Ong's block), ETITECH 100.4m shares @ RM0.07 ( 14.2% PUC, in
line with major shareholders Al Yousof LLC's holding), PJI 11m shares @ RM0.11.
4) Situational:
AIRASIA -2.7% RM3.26:
after management said that there is a possibility that AirAsia may exit
from its almost two-year old JV with All Nippon Airways in AirAsia Japan due to
differences of opinion within the management of the new airline. Co said the
differences were most critically on the points of how to operate a low cost
business and operating from Narita, Japan's major airport. As a result, the
low-cost carrier said in a statement that it would not rule out any option,
including dissolution of the JV.
PESONA +3% RM0.335:
after Co bagged a RM87.2m contract from Putrajaya Holdings Sdn Bhd.
Pesona said its wholly-owned subsidiary Pesona Metro Sdn Bhd had received the
letter of award for the proposed construction and completion of the remaining
and rectification works of government office building and external works for
the Election Commission's office. The project is for duration of 11 months and
is expected for completion on May 9 of next year.
5) ASTRO
1Q April 2013
Tover +14% RM1.13bn Net -7%
RM114.1m EPS 2.2sen
-3.5% cons (f) RM472.7m
The higher turnover was mainly due to the
increase in subscription revenue and advertising revenue of RM102.4m and
RM19.5m respectively. The increase in subscription revenue is attributed to
both an increase in ARPU for Pay-TV residential subscribers of RM3.90 (from
RM90.30 to RM94.20) and an increase in number of Pay-TV residential subscribers
by 207,500 from 3,108,300 to 3,315,800.
Margins were however lower partly offset by higher
installation, marketing and distribution costs in relation to customer
acquisition as well as higher B.yond boxes swap out and higher content costs
and higher depreciation of RM57.8m.
Focus will remain on customer acquisition strategy for
pay-TV subscribers continue to be successful, whilst the additional focus to
pursue a new addressable market via NJOI is gaining traction. ARPU enhancing
value-added products and services such as HD, PVR, Multiroom, Superpacks and
Astro First/Best are also driving strong customer take up. Astro B.yond IPTV
powered by Maxis was commercially launched on 30 April 2013. Together with
TIME.com network, this will provide the Group access to 1.4 million homes
passed, the widest HSBB fibre coverage in Malaysia.
Price has retraced from recent run up. Accumulate around
the RM2.90 support levels.
6) Market - Uncertainty in global asset markets continues
to build with recent sell off especially in neighboring markets now making
Malaysia the out performer for the past month. If current sentiment continues,
inevitable selling likely to emerge with a downside target of 1700pts and
1680pts the first stops.
