FBMKLCI
1810.00 +4.69pts (+0.26%)
Volume 1.542b Value RM1.941b
1) The KLCI recorded its 2nd consecutive gains to close
at another all-time high despite choppy trades in the US market overnight. In
the regional market, investors were extra cautious as China released its HSBC
PMI which came in lower than expected (47.7 vs 48.2 cons.); SHCOMP and HSI
retreated in earlier trade prior to the data but recovered well to close -0.52%
and +0.24% respectively. In the local market, ACE market +1.32% outperformed
the market as we saw strong volume and gains in names such as REDTONE +8.38%,
YTLE +2.20% and INSTACO +4.41%. Market breadth was skewed towards the positive
as gainers edge losers by 392 : 356. Futures closed 1816.5 pts (6.5 pts
premium).
2) Heavyweights : PBBANK +1.40% RM17.34, GENTING +1.82%
RM10.02, PETGAS +1.42% RM21.30, GENM +1.26% RM4.00, PPB +1.35% RM15.02, CIMB
+0.23% RM8.54, MISC -4.10% RM5.61, TENAGA -0.54% RM9.14.
3) DBT : NEXTNAT 28mil @ RM0.10 ( 4.28% PUC @ 17%
premium), SCOPE 7.455mil @ RM0.2751 (1.49% PUC @ 22% premium), SEACERA 5.15mil
@ RM0.6691 (4.792% PUC)
4) Situational:-
KINSTEL + 10.90% RM0.305 - Kinsteel has entered into a
mining agreement with Sultan Ahmad Shah of Pahang for the exclusive rights to
carry out mining operations for all types of iron ore and other minerals. The
site measures 200ha in KL.
FRB +4.72% RM0.665 / MICROLN +0.84% RM0.60 - Formis
Resources Bhd has triggered an unconditional mandatory general offer for
Microlink Solutions Bhd on the basis of its shareholding crossing the 50%
threshold level. In a statement to Bursa Malaysia, Formis said it had acquired
66.9m shares, or 50.01%, in Microlink. The remaining shares will be purchased
at 60 sen each.
5) UNISEM
1H Jul 2013 Tover
-8% RM496.6m Net - RM13.9m EPS -2.1 sen
Cons (f)
RM13.8m
The lower turnover vs corresponding six months was due to
a decline in revenue in the Asia and Europe segments by 9.8% and 6.3%
respectively and 159.2% improvement in the USA segment. The Group recorded net
loss of RM15.052 million for the six months ended 30 June 2013 as compared to
the net loss of RM21.448 million in the corresponding six months period.
Compare to the same period last year, except for the Asia segment, performance
in both the Europe and USA segments
The lower net losses for the current quarter and
financial year to date was principally attributable to the improved gross
profit margins as a result of rationalisation of certain low
margin/unprofitable products and higher foreign exchange gains.
We continue to prefer Gtronics as our top pick in this
sector with its attractive valuations of 12x PE and 5% yield.
6) Market - Maintain current rotation in small/mid cap
names
