Market Roundup | 11 September 2013

FBMKLCI   1768.48  +3.53pts  (+0.20%)   Volume  1.990b   Value 2.227b

 

1) The KLCI jumped to a high of 1776.11 (+11.16pts) in the morning after DOW ended higher as concern on Syria eased on U.S President's proposal to avert an attack. However investors decided to lock in profits with index dipping into negative territory before late push up of blues ensured market gain for 5th consecutive days. In the regional market, bourses were mixed as SHCOMP +0.15% closed higher upon better credit growth in the country but HSI -0.17% fell on more profit taking after a 4 day consecutive gain. Market breadth was skewed towards the positive as gainers lead losers by 403 :384. Futures closed 1771 (2.5pts premium).
 

2) Heavyweights : AXIATA +1.18% RM6.84, PPB +0.11% RM17.76, MISC +2.18% RM5.15, SIME +0.52% RM9.53, MAXIS +0.722% RM6.98, UMW -3.89% RM12.34, KLK -1.34% RM22.00, CIMB-0.39% RM7.50

 

3) DBT : COMPUGT 6mil @ RM0.09 (80% premium), IRETEX 4.5mil @ RM1.50 (9.862% PUC @ 5.7% discount), UEMS 4.376mil @ RM2.3754

4) Situational:-

UEMS -1.98% RM2.47 / SIME +0.52% RM9.53 - Sime Darby and UEM Sunrise have launched Radia, a RM1.6bil integrated development with 2.7 million sq ft of floor area in Bukit Jelutong, Shah Alam. The 50:50 joint venture is expected to be completed in 2018 -comprise 640 units of serviced apartments, office spaces (400,000 sq ft) and retail space (880,000 sq ft), all set in the heart of the Bukit Jelutong township.

 

 5) ASTRO : 6 mths 07/13  Rev+13% RM2.314b  Net -2% RM213m   EPS  4.1s  Div 4

     Results 46% of FY cons RM463m

For 6 months yoy, higher Revenue mainly due to an increase in subscription & advertising revenue of RM190m and RM32m respectively. The increase in subscription was due to higher ARPU for Pay-TV residential subscribers +3.4% and higher Pay-TV residential subscribers +6%. The increase in airtime sales was driven by the continuous strong listenership ratings and improved sales tactical campaign, as well as taking advantage of the festivals and events. PAT was lower, due mainly to an increase in depreciation of set top boxes and amortization of software, offset by lower net finance costs. Qoq, group Revenue +5.6%, PAT -13.4%. With the encouraging numbers posted in 1HFY14, we foresee better times ahead for Astro. It's buoyant outlook is underpinned by; (i) decent subscriber growth on the back of encouraging subscription for Maxis-Astro IPTV offering and its pay-TV services; and (ii) sustainable ARPU growth driven by take-up in value-added services - HOLD.

 

6) Market - The profit taking that we have been expecting tapered gains today and we see a follow through for the rest of the week as markets prepare for the Feds decision next week and also a holiday shorten week in Msia.