FBMKLCI
1825.24pts -2.24pts (-0.12%)
Volume 2.836b Value 2.291b
1) The KLCI saw profit taking in the key heavyweights as
index drifted and reached a low of 1822.68 (-4.8pts) before recovering at
auction. The overall market was mixed as NIKKEI soared +3.13%, boosted by the
stronger USD after BOJ doubled a growth funding facility while keeping its
asset-purchase program unchanged. Meanwhile SHCOMP declined -0.37% after the
central bank drained funds from the banking systems. In the local scene,
investors are cautiously selective with their stock today as profit taking sets
in on some of the stocks today, namely SILKHLD
-2.96%, MINETEC -7.93% RM0.29, KNM -2.42%, SCOMIES -1.83%, PERWAJA
-14.06%. Futures closed at 1825.5 (parity).
2) Heavyweights: SKPETRO -1.34% RM4.39, GENTING -0.77%
RM10.26, KLK -1.17% RM23.60, PBBANK +1.37% RM19.14, FGV -0.88% RM4.48, PETGAS
+0.87% RM23.20, PPB +1.26% RM16.00, PETDAG +0.72% RM30.42
3) DBT: SKPETRO 190.32mil @ RM4.30 (3.17% PUC, 3.6%
discount), BJLAND 34.1mil @ RM 0.735 (9.9% discount), BORNOIL 11.483mil @
RM0.7043 (5.34% PUC), TITIJYA 2mil @ RM1.64, YINSON 1.1mil @ RM8.00
4) Situational:-
VINTAGE SUSPENDED / LBS +0.60% RM1.66 - Property
developer LBS Bina Group Bhd is injecting MYR13.4m into loss-making VTI Vintage
Bhd, which is undertaking a regularisation exercise. LBS, in a filing with
Bursa, said that it was subscribing for eight million new shares in VTI under a
placement exercise for MYR4.0m or 50 sen each and another eight million new
shares together with warrants on the basis of one warrant for every two rights
shares for MYR4.0m. It would also subscribe up to 10.87 million unsubscribed
rights shares under VTI's proposed rights issue with warrants equivalent up to
MYR5.4m. The subscription consideration is planned to be financed through the
combination of internally generated fund.
DSONIC -8.20% RM2.91 - share price fell sharply touching
a low of RM2.75 after Bursa Malaysia issued a Unusual Market Activity query to
DATASONIC on the unusual rise in price of its shares recently.
5) MAS : FY12/13
Rev+9% RM15.1b, Loss after Tax RM1.17b, EPS -8.69
Yoy, the group's EBITDA improved 36% to RM254m on the
back of higher revenue+10%. Despite the increase in capacity by 17% and seat
factor of 6.3% to 81%, passenger yield continued to be under pressure due to
intense competition from new entrants domestically & regionally. Group's
operating expenditure +10% ( fuel cost+10% in
line with capacity increase & continued weakening of the Ringgit
against the USD). Non fuel costs +9% ( increase in capacity related costs,
selling & marketing & maintenance). The jump in loss after tax to
RM1.173b included depreciation of RM816m, unrealized forex loss RM194m, finance
costs RM437m and FV change of derivatives RM20m. Qoq, group's operating revenue
is comparable to preceding quarter despite increase in capacity. However, operating
expenditure +3% while fuel costs +1% and non fuel costs+4%. Ahead, we
reckon MAS may still face headwinds as
yields continue to come under pressure while its high cost structure may offset
its efforts to spur revenue growth.
Prefer MAHB for a play into VMY 2014.
6) Market - Profit taking likely to continue in mid caps after the strong
recent run up. Expect immediate support on the CI around the 1800pts levels