FBMKLCI
1815.65 -2.74pts (-0.15%)
Volume 1.810b Value 1.892b
1) The KLCI slipped lower on profit taking across the
board as buying interest dwindled after the Budget announcement on Friday.
Global bourses were weaker as investors retreated to the sidelines just ahead
of a 2 day US Fed Reserve policy meeting today where the indicated timeline for
QE tapering would be clarified. The regional markets were mixed with SHCOMP
-0.23% closing lower after PBOC's first cash injection failed to reduce money
market rates, the benchmark HSI +0.18% however, closed higher. In the local
scene, penny stocks were actively traded as HUBLINE 0.00%, CENSOF +5.217% and
TALAMT -6.66% tops the list of most
active stocks. Market Breadth turned positive in the later session of the day
as gainers beat losers by 418 : 379. Futures closed at 1817.5 (2pts premium)
2) Heavyweights: MAYBANK -1.50% RM9.81, TENAGA -1.26%
RM9.36, SKPETRO -1.91% RM4.09, CIMB -0.52% RM7.60, UEMS -2.80% RM2.43, DIGI
+2.63% RM5.06, UMW +1.56% RM13.00, PPB +1.23% RM14.80.
3) DBT : SCICOM 10mil @ RM0.54 (3.47% PUC @ 22% discount),
BHS 9mil @ RM0.98 (11.25% PUC @ 6.6% discount), IJM 6.813mil @ RM5.827
4) Situational:-
MUDAJYA + 1.39% RM2.90 - Mudajaya Power International a
wholly-owned subsidiary of Mudajaya, acquired a 40% stake in Amihan Energy
Corporation (AEC) for Php26.4m (RM1.9m). AEC is based in the Philippines and
was granted a 25-year exclusive rights by the Department of Environment (DOE)
to develop wind energy resources in Cebu. The venture involves a development of
up to 200MW wind energy farm on an 18.2k ha land in phases over the next 5
years with an initial development of up to 50MW.
5) Globetronics
9mths 9/2013
Tover +18.6% RM2.42.3m Net +31%
RM39.5m EPS 14sen
In line
with cons(f) RM51m
Top line growth recorded from higher volume loadings for
most product segments. Better economy of scale has helped improve margins
particularly in the sensor product space. 4Q should see initial contribution
from another product, LED flash. It remains on track to deliver another record
profit year record profit for FY 2013 with targeted growth of 30% from
multiport sensors and optical lenses in 2014.
Currently at 16x PE current financial year, with a cash
backing of RM0.53/share, we continue to recommend accumulation for its
attractive yield of 6%.
6) Market - Rotational play on mid/small caps stock to
continue with the KLCI support above the 1800pts levels