FBMKLCI
1788.24 -3.97pts (-0.22%)
Volume 2.132b Value RM1.618b
1) The KLCI fell for a third consecutive day following
the US market that dipped 200pts yesterday after improving economic data
increased expectations that the Fed's will begin tapering its QE by next month.
In the regional market, SHCOMP surged dramatically from -1% to +5.6% gain
behind an unintended mistake but later slid back into losses; while the other
market remained in negative territory STI-0.7%, NIKKEI -0.75%. In the local
market, top volume gains were topped by penny stocks namely ASUPREM -13.55, FLONIC
+11.42% and INSTACO +7.69. Market breadth was negative with losers beating
gainers by 422 : 379. Futures closed 1789pts (1 pt premium).
2) Heavyweights : CIMB -1.35% RM8.04, PBBANK -0.462%
RM17.24, UMW -2.22% RM14.08, IHH -1.19% RM4.14, FGV -1.31% RM4.49, SKPETRO
+1.31% RM3.85, GENTING +0.50% RM9.90, HLBANK +1.12% RM14.36
3) DBT : GDEX 23.90mil @ RM2.78 (9.% PUC), GBGAQRS 5mil @
RM1.40 (1.406% PUC), TROP 2.90mil @ RM1.68 (3.4% discount).
4) Situational:-
ASUPREM -13.55% RM0.255 - Share price fell despite
announcing Zenith PMC Sdn Bhd will partner Astral Supreme Construction Sdn Bhd
(ASC) to carry out the feasibility study and design of the Penang-Butterworth
sea tunnel. The project comprises a 4.2km bypass from Gurney Drive to Lebuhraya
Tun Dr Lim Chong Eu, a 4.6 km bypass between Lebuhraya Tun Dr Lim Chong Eu and
Bandar Baru Air Itam, a 12km paired-road from Jalan Tanjung Bungah to Teluk
Bahang and the 6.5km Penang-Butterworth sea tunnel.
PRTASCO +1.34% RM1.51 - Protasco Bhd is investing some
USD55m (MYR180m) into its first oil and gas (O&G) segment venture with PT
Anglo Slavic Indonesia (PT ASI), a subsidiary of PT Anglo Slavic Utama.
Executive chairman and group MD Datuck Chong Ket Pen said the deal is expected
to be concluded in October and if everything goes well, it will be a profit
guarantee venture for Protasco.
5) MISC
1H June 2013 Tover
+2% RM4.7bn Net RM601.4m EPS 13.5sen
9% below
cons(f) RM1.32bn
The increase in revenue was primarily due to the higher
revenue in LNG business following lease commencement of two FSUs in Aug 2012,
higher activity from heavy eng business from commencement of new projects and
finally higher freight rates in the chemical business. However Petroleum sector
say a decline due to a smaller operating fleet and softer freight rates.
Group PBT of RM694.4m was 20% higher YOY due to net
impairment reversal of RM25.5m this year vs a net impairment charge of RM159.7m
in the corresponding period. Operating profit from the different segment for
the 1H, Energy related shipping -8% RM449.1m, other energy business (heavy
engineering) +3% RM233.6m, discontinued liner biz (-RM2.5m).
The recent announcement by Petronas that they will
directly procure newbuilds for their LNG requirements has cast a major shadow
over MISC's most profitable arm. Hold and sell into strength on bounces
especially around the RM5.80 levels.
6) Market - Focus to remain on mid small cap rotational
plays.