FBMKLCI
1793.73 -1.36pts (-0.08%)
Volume 2.202b Value RM1.707b
1) The KLCI opened at day’s high of 1801.26 (+6.17pts)
before fizzling to close in negative territory as investors took profit on
concerns the Fed’s could scale back its monetary stimulus programme after the
US retail sales came in better than expected. Regional were flat in lightly
traded market after Hong Kong market was closed today due to a typhoon. In the
local market, penny stock continue to generate interest as we see top volume
among names like MAS +7.93%, DAYA -2.85%, SUMATEC +11.21%. Market breadth was
positive despite the weaker CI with gainers edging losers by 447 : 349. Futures
closed 1796 (2.3 pts premium)
2) Heavyweights : GENM -1.35% RM4.37, PETGAS -1.03%
RM21.06, BAT +0.38% RM62.74, PBBANK-0.23% RM17.24, UEMS -2.13% RM2.75, GENTING
+0.60% RM9.97, SKPETRO +0.80% RM3.74, CIMB +0.24% RM8.09
3) DBT : OLDTOWN
8.49mil @ RM2.80 (2.33% PUC @ 2.1% discount), SERSOL 5mil @ RM0.45 (2.59% PUC @
43.3% discount), TAFI 3mil @ RM0.26 (3.75% PUC)
4) Situational:-
THHEAVY +3.95% RM0.92 - TH Heavy said its subsidiary,
O&G Works Sdn Bhd, had won a mechanical-crane-pedestal manufacturer licence
from Petronas. The licence means that TH Heavy can now bid on its own for
offshore pedestal cranes work projects from Petronas and other oil and gas
players in Malaysia.
5) STAR
1H June 2013 Tover
-11% RM471.9m Net -30% RM54.6m EPS
7.4sen
33% below
cons(f) RM163.3m
Group revenue declined by 10.9% from RM529.42 million to
RM471.94 million in 1H 2013 mainly due to lesser projects completed in the
current period by Cityneon and lower advertising revenue for the first half of
the year. As a result, Group profit before tax and profit after tax fell by
26.4% and 30% respectively.
The two main divisions details;
Print and New Media – Print revenue for 1H 2013 declined
to RM356.54 million from RM381.46 million in 1H 2012 mainly due to lower
advertising revenue. New Media revenue decreased by 23.2% to RM11.42 million in
1H 2013. Overall, profit before tax for print and new media fell by 20.5% to
RM85.33 million in 1H 2013.
Event, exhibition, interior and thematic – This segment
consists of Cityneon and I.Star Ideas Factory (Perfect Livin‟). Overall revenue
decreased by 29.2% to RM72.26 million in 1H 2013 as compared to RM102.02
million in 1H 2012 mainly due to lesser projects completed in the current
period by Cityneon. On the other hand, Perfect Livin‟ recorded revenue amounted
to RM12.73 million in 1H 2013. Profit before tax decreased by 39.9% from RM1.43
million to RM0.86 million for the current financial period under review mainly
due to losses incurred by Cityneon.
The group declared a 1H interim div of 6sen well below cons(f)
of 17.7sen for full year. This is indicative of lower full year yield closer to
4% vs market expectations of 6%. Expect to continue to underperform with value
seen only below RM2.50.
6) Market – Range bound trading on the KLCI to continue
with rotational play on penny stocks.
