FBMKLCI
1807.60.46 +9.14pts (+0.51%)
Volume 1.289b Value 1.351b
1) The KLCI closed at day high at auction today inline
with the global market after the US market rose behind better jobs data and
consumer confidence. In the regional market, bourses were bullish with NIKKEI
+1.80% leading other indices as it
closed at the highest level since 2007 behind the weaker yen against the
dollar; SHCOMP +0.83%, STI +0.45%, were all higher while HSI -0.07% lagged
behind. In the local market, bluechip stocks rally albeit with lower than usual
volume as profit taking was seen all across the board. Market breadth was
negative with losers edging passed gainers by 348 : 380. Futures closed at
1810.5 (3pts premium).
2) Heavyweights:
MAYBANK +1.36% RM9.68, PETGAS +2.16% RM23.60, TENAGA +1.12% RM9.91, KLK
+2.33% RM24.50, AXIATA +0.60% RM6.70, GENM +1.18% RM4.28, BAT +1.61% RM63.00,
PPB +1.65% RM14.72.
3) DBT: IBRACO 10mil @ RM2.72 (7.923% PUC @ 19.8%
premium), RGB 10mil @ RM0.11 (4.4% discount), APFT 6mil @ RM0.30 (3.82% PUC @
3.2% discount).
4) Situational:-
CIMB -0.13% RM7.59/ AMBANK -0.94% RM7.33/ RHBCAP -1.16% RM7.62/ MAYBANK +1.36% RM9.68 / PBBANK +0.10% RM18.36 - Standard & Poor's Ratings Services
revised its rating outlook on four Malaysian banks, i.e. CIMB Group Holdings,
AmBank, RHB Bank and RHB Investment Bank, to negative from stable. It, however,
reaffirmed the ratings and keeps a stable outlook on four other Malaysian banks
- Maybank, Public Bank, CIMB Bank and CIMB Investment Bank
5) TELEKOM
9mths 9/2013
Tover +6.5% RM7.65bn Net -36% RM668m EPS 18.7sen
4% above
cons (f) RM858m
For the nine months ended 30 September 2013, TM posted a
6.5% growth YTD in Group
Revenue to RM7.6 billion from RM7.2 billion in the
corresponding period last year. The
improved performance was achieved on the back of higher
revenue contribution from Internet,
Data and other services. Internet revenue grew by 12.7%
YTD compared to RM2.0 billion in the
same period last year. Data revenue also recorded solid
growth by 17.2% to RM1.8 billion
against the same period in 2012.
Group PATAMI decreased by 25.8% to RM668.0 million as
compared to RM900.5 million recorded in the corresponding period last year
primarily due to foreign exchange loss on borrowings of RM96.5 million in the
current period as compared to a gain of RM68.0 million in last year
corresponding period as well as lower deferred tax income on unutilised tax
incentives.
As at end Sept 2013, TM rolled out the High Speed
Broadband (HSBB)
project to 1.462 million premises covering 103 exchanges
nationwide.The 3Q saw a net add of about 180,000 or 42.2% growth YoY. This
translates to a take up rate of about 42%. To date, TM has 620,000 UniFi customers.
At these levels TM remains a hold as the market gauges
the full impact of the cheaper alternative being offered by Maxis-Astro IPTV.
6) Market - Range bound trading on the index to continue
with selective bargain hunting. Caring one of the largest Pharmacy chains
recently listed has retraced down to its lowest levels after touching a high of
RM2.25. At this current levels, it trades at a reasonable 14x PE for a growing
consumer company with an ambitious target for outlets throughout Pen Msia.
Accumulate.
