FBMKLCI 1782.49
-12.31pts (-0.69%) Volume
2.246b Value 2.218b
1) The KLCI opened lower inline with the weaker US market
which fell on speculations that the Fed's will reduce stimulus next month. the
CI fell further in the 2nd half closing near its day low as the region continue
to slip further into negative territory weighed by the weaker sentiments in the
region. In the regional markets, most of the bourses were lower led by SHCOMP,
HSI that slipped -1.83% and -1.91% respectively after the China plenum reforms
disappointed investors. In the local scene, bluechip index stocks lost more
grounds as selling pressure continue to take a toll on the index for a 2nd day
with UEMS -2.99%, YTL -2.45% and GENM-1.8%
amongst the biggest loser. Market breadth was negative with losers
towering over gainers by 654 : 196. Futures closed 1776.5 (6pts discount)
2) Heavyweights: MAYBANK -1.21% RM9.73, PBBANK -0.76%
RM18.14, PETGAS -1.61% RM23.10, CIMB -0.79% RM7.47, GENTING -1.61% RM10.22,
GENM -1.80% RM4.35, YTL -2.45% RM1.59, DIGI -1.03% RM4.80
3) DBT : HSL 10mil @ RM1.98 (1.716% PUC), BAHVEST 4.91mil
@ RM6.579 (1.229% PUC), YINSON 1.2 @ RM4.80.
4) Situational:-
CARING +46.4% RM1.83 - Community pharmacy operator,
Caring Pharmacy Group Bhd, staged an impressive debut on the Main Market of
Bursa Malaysia today. The counter opened at RM1.75 sen, a 50 sen premium above
its offer price of RM1.25 and closed at RM1.83 with 35mil shares traded in the
market. Caring is one of the top three
community pharmacy operators in Malaysia with approximately 4% market share.
The IPO involves an inssuance of 35mil shares to raise RM43.75mil which the
group plans utilise to increase its existing 85 outlets to 120 by financial
year 2016
5) PERISAI
9mths 9/2013 Tover
+1.3% RM97.8m Net -14% RM71.2m EPS 7.5sen
8.5% above
cons(f) RM87.5m
The increase in revenue was mainly due to higher foreign currency
conversion for the current financial period.
PBT from continuing operations for the financial period
ended 30 September 2013 amounted to RM38.83 million, which represents a
decrease of RM26.09 million as compared to RM64.92 million in the corresponding
period ended 30 September 2012.
The decrease was mainly due to depreciation adjustment as
reflected in the cost of sales, higher staff
cost and cost of share options recognised under the employee share
option scheme as reflected in operating expenses and additional financing cost
incurred. In addition, there was no recurrent bargain purchase gain from the
acquisition of subsidiaries recognised in the current financial period compared
to that was reported in the corresponding financial period which amounted to
approximately RM18.4 million.
The decrease in net profits was mainly due to the same
reasons as mentioned. It is however mitigated by no depreciation required under
the provisions of MFRS 5 "Non- Current Assets Held For Sale and Discontinued
Operations" for assets which are held for sale.
The immediate concern will be for the redeployment of its
Derrick Lay Barge and MOPU which are currently idle after completing their
respective charters in Sept 2013. However longer term outlook will turn to the
2 jack up rigs under construction with deliveries in 07/2014 and 2Q 2015 to
widen its earnings base. - Trim into strength without news flow on the two idle
assets as the company might struggle to deliver consensus earnings growth of
almost 40% for 2014.
6) Market - Fears of US tapering and lack of +ve
developments from China's central committee should see the current profit
taking activity continue for the balance of this week with KLCI immediate
support at the 1775pts levels.