FBMKLCI
1777.82 +5.20pts (+0.29%)
Volume 1.459b Value RM2.130b
1)The KLCI erased part of yesterday's losses on a
technical bounce which saw the index touch the 1782pts resistant level before
settling with just +5 at 1777pts. Global
bourses were also boosted after the Fed's said with a optimistic tone that they
would continue the bond buying program till they see a substantial growth in
the labour market. In the regional market, most of the indices gained behind
China's unexpectedly stronger reading of the China PMI (50.3 actual vs
49.8cons). SHCOMP & HSI rose +1.77% and +0.94% respectively . In the local
market, TECHNOLOGY index outperformed the rest gaining +2.42% lead by GTRONIC
+4.66%, JCY +2.29%, D&O +10.71%. Market breadth was positive with gainers
outpacing losers by 537 : 233. Futures closed 1775 ( 2 pts discount).
2) Heavyweights : MAYBANK+1.36% RM10.40, GENM +3.36%
RM4.30, PBBANK +0.69% RM17.38, TENAGA +1.01% RM8.98, AXIATA +0.58% RM6.83,
SKPETRO +1.03% RM3.90, PETGAS -1.72% RM20.48, CIMB -0.38% RM7.84.
3) DBT : TEOSENG
5.534mil @ RM0.65 (2.76% PUC @ 6.1% discount), UEMS 3.1mil @ 2.90 (7.7%
premium), PANTECH 2.5mil @ RM1.01
4) Situational:-
YINSON +0.81% RM4.94 - Yinson Holdings is poised to
become one of the top six global providers of floating production, storage and
off-loading (FPSO) facility. This follows the highly-anticipated acquisition of
a Norwegian company which will be completed by the first week of Sep. The
acquisition of Fred Olsen Production ASA will enable Yinson to move up to the
next phase of growth particularly in Asia, Africa and the United States. The
other global players are from Malaysia, Japan, Europe and the US, among others.
L&G +6.59% RM0.485 - Shareholders L&G have
approved the company's rights issue of five year irredeemable convertible
unsecured loan stocks (ICULS) and the proposed acquisition of a freehold
13-storey office block in Putrajaya. At its EGM here yesterday, shareholders
voted 80.77 to 19.23% in favour of the proposed ICULS while they voted 80.85 to
19.42% for the acquisition resolution. The 1% ICULS is at 100% of the nominal
value of 13 sen each on the basis of 13 sen nominal value of the iculs for
every one existing share held on an entitlement date to be determined later.
5)GAS Msia
1H June 2013
Turnover +9.7% RM1.13bn Net
+12.9% RM85.1m 6.63sen
5%
below cons (f) RM178.4m
The Group's revenue growth of 9.7% was mainly due to
higher volume of gas sold by 8.8%. Net earnings grew by 12.9% to RM85.1m due to
also lower cost of sales which improved GP margin by 34bps. The group declared
an interim div of 6 sen .
The Board expects the Group's revenue and profit for
financial year 2013 to be better than previous financial year due to the
expected increases in gas volume for sale and number of customers.
We remain neutral at current levels as full year yield is
currently only 3.6%.
6) Market - Volatility remains especially with Malaysian
economic numbers now being scrutinized closer after the Fitch downgrade. This
could trigger more urgency in the government to introduce new measures in the
upcoming budget.
