FBMKLCI
1833.75pts +5.07pts (+0.28%)
Volume 2.829b Value 2.026b
1) The KLCI rose steadily thruout the day after the US
market closed in positive territory overnight. In the regional market, bourses
were mixed with SHCOMP -2.46% retracing for a 2nd day amid speculation of a
weaker property market and falling yuan will affect corporate earnings; HSI
-0.32% closed lower while the NIKKEI +1.88% reached its 4 weeks high. In the
local scene, stocks in the ACE market index lost the most grounds today as
healthy profit taking weighed these counters down, namely IRIS -7.31%, INARI
-2.67%, NEXGRAM -6.89%, while the KLCI bluechip closed strong towards the end
of the session pushing index to close at day's high. Market breadth was
negative with losers beating gainers by 547 : 294. Futures closed at 1835
(1.5pts premium).
2) Heavyweights: IOICORP +2.60% RM4.73, SIME +1.43%
RM9.22, DIGI +1.17% RM5.15, PETGAS +0.86% RM23.40, AXIATA +0.45% RM6.56, KLK
-2.04% RM23.90, IOIPROP -2.26% RM2.59, MAYBANK -0.20% RM9.72, PETDAG -0.85% RM30.30
3) DBT: TROPICANA 23mil @ RM1.42 (2.035% PUC @3.6%
premium), UTOPIA 10mil @ RM0.10 (1.112% PUC @ 25% premium), GHLSYS 9mil @
RM0.618 (4.85% PUC @ 16%discount), MAGNUM 7.342mil @ RM3.00.
4) Situational:-
GASMSIA +1.69% RM3.61 - Group is diversifying from its
gas distribution business into energy service, announcing yesterday that it
intends to provide electricity and steam to Malaysian industries under a
joint-venture (JV) agreement with Tokyo Gas Co Ltd. Gas Malaysia said it has
inked a conditional agreement yesterday with Tokyo Gas parent, Energy Advanced
Co Ltd (ENAC), to produce steam and electricity through a combined heat and
power system. The JV company to be established in March will have a capital of
RM4 million, with 66% to be held by Gas Malaysia and 34% by ENAC.
5) PERDANA : FY12/13
Rev+6% RM274.7m Net RM61.7m (
loss RM3.4m LY ) EPS 8.65s
Results 18% ahead of cons RM52.4m
For the 12 months, the higher revenue & PAT achieved
was mainly attributable to the increase in the number of vessels in use,
improvement in the vessel utilization and charter rates in the current quarter.
The average utilization has improved from 77% LY to 80% this year. The net loss
LY included an impairment loss of RM27.7m in Q4 2012. Cost savings from
maintaining the old vessels in the current year also was a contributing factor.
Qoq, revenue+14.5% due to the commencement of a few long term contracts coupled
with the charter income generated from the new deliveries. PBT+34%, due to the
increase in the number of vessels in use and vessel utilization, set off by the
higher administrative expenses and finance costs in the current quarter. Ahead,
management is optimistic on the prospect for O&G support services in the
domestic & regional markets, on the back of stable oil prices, upsurge in
offshore activities, ongoing tenders and various development programs
spearheaded by Petronas. Co's focus will be to strive for longer term charters
for it's new build assets. The strong Q4 results, higher utilization & it's
fleet expansion plan, improving Balance Sheet & inexpensive valuation
should intensify interest in the stock; Accumulate.
6) Market : profit taking in recent out performers to
continue with rotational plays in mid caps. KLCI to remain range bound around
current levels.