FBMKLCI
1795.08 -3.70pts (-0.21%)
Volume 2.146b Value RM2.073b
1) The FBMKLCI continue to see profit taking falling
below the 1800 level as US closed lower overnight after investors retreated to
the sidelines ahead of the FOMC meeting tonight while home sales also fell on
concerns of higher mortgage rates. Regional market were higher led by Nikkei
+1.53% and SHCOMP +0.73% on optimism China central bank's measures to ease cash
squeeze might boost financial companies and raw-material producers.
FINANCE-0.71% was weighed down by CIMB-2% after CIMB NIAGA posted disappointing
1H result which also dragged other banks MAYBANK -1.30% and HLFG -0.97% lower.
Market breadth was negative with losers leading gainers by 426: 299. Futures
closed 1797.5 (2.5pts premium)
2) Heavyweights : CIMB -1.92% RM8.15, MAYBANK -1.30%
RM10.56, TENAGA -0.99% RM9.00, DIGI -0.64% RM4.62, GENM +4.98% RM4.21, PCHEM
+0.75% RM6.65, PETDAG +1.12% RM27, BAT +0.98% RM61.30.
3) DBT : ATRIUM 10mil @ RM1.16 (8.21% PUC @ 14.8%
discount), ALAM 3mil @ RM1.53 (2% discount), GBGAQRS 3mil @ RM1.25 (6.1%
discount).
4) Situational:-
SONA +4.70% RM0.445
/ SONA-WA +246.66% RM0.26 - Sona's IPO involved the sale of 1.1bil new
shares with an equal number of free-detachable warrants for the referece price
of RM0.425 and RM0.075 respectively. SONA drew RM3.4bil from investors 6 times
more than RM550 raised and will seek to buy assets from the IPOs within the
next 3 years.
5) Globetronics : HY06/13 Rev+29% RM162.8m Net+53%
RM24.3m EPS 8.86s Div 5s
Results in line with FY cons RM51.5m
For the 6-months period, Revenue was 29% higher as both
the Malaysian & Singapore segments registered healthy sales. The higher PAT
was mainly due to higher volume loadings from most of the group's customers,
better economy of scale coupled with productivity improvement/cost control
programmes implemented. Qoq, Revenue+10.6%, PAT+38%. Revenue from the Singapore
segment+17% while the Malaysian segment+9%. PAT jumped due to higher volume
loading plus the factors mentioned above. Ahead, group will continue to focus
on escalating up the value chain & riding on the R&D initiatives in new
products design & development; We continue to like the group, despite the
recent share price run-up. It is currently trading at c11x FY14 PE. Downside is
limited by its decent yield of c6% FY13-14. Globetronics' prospects remain
intact, underpinned by continuous strong demand for smartphones and tablets,
new orders from new clients and organic growth from existing clients.
6) Market: The current consolidation phase is generally
expected to continue, interrupted by possible month-end activities towards the
later part of the trading day.