FBMKLCI
1866.42 +3.49pts (+0.19%)
Volume 2.608b Value 2.870b
1) The KLCI closed at its day high albeit the small range
bound trading seen thruout the day; this is similar with the US market which
also closed just slightly above the overnight level yesterday. In the regional
market, bourses were mixed as the NIKKEI -0.70% closed lower followed by the
HSI -0.13%not far off just before the release of China's PMI manufacturing
tomorrow. SHCOMP +0.34% and the ASX +0.46% however closed stronger. In the
local market, PLANTATION index +0.82%
saw an uptick in the index during the last hour of the session outperforming
the rest of the sectors attributed by gains in IOICORP +1.25%, FGV +1.99%, TDM
+10.66%, KLK +0.58%. Market breadth was positive with gainers beating losers by
455 : 404. Futures closed at 1867 (1 pt premium).
2) Heavyweights : PBBANK +0.89% RM20.38, IOICORP +1.25%
RM4.84, FGV +1.99% RM4.60, TM +1.01% RM6.00, MAYBANK +0.30% RM9.99, KLK +0.58%
RM24.00, MISC -1.64% RM6.58, SIME +0.32% RM9.27
3) DBT : SPSETIA 67.798mil @ RM3.95 (2.75% PUC @ 35%
premium, possibly block from Tan Sri Liew), TAMBUN 15mil @ RM1.95 (3.78% PUC @
4% discount), BJLAND 3.478mil @ RM 0.77
4) Situational:-
DAYA +4.61% RM0.34 - Daya Materials is working with
Italy's Cimolai Technology SpA to undertake a mobile straddle transporter
project used in lifting and transportation.
It said on Tuesday its subsidiary Daya Proffscorp Sdn Bhd had signed an
MoU with Cimolai.
IJM -0.47% RM6.32
- IJM has clinched a RM396 million contract from Damansara Uptown Retail Centre
Sdn Bhd for the main building works for the proposed commercial development in
Damansara Utama, Petaling Jaya. The project comprises the building works of a five-storey
shopping mall with one block of two-storey office, three blocks of one or
two-storey commercial pods and a 21-storey hotel block on top of the shopping
mall.
5) WINGTM : 9 mths 03/04 Rev-33% RM288m Net-49% RM41m EPS
13.05s
Results trails,
making up only 51% of FY cons RM80m
For 9 months yoy, revenue was lower due mainly to the
property development division. There was lower revenue recognition from The
Veritas Residensi project. With the
lower revenue, operating profit from the property division was 57% lower.
Revenue from the retail division was comparable with that of last year, but
operating profit was 24% lower, due to higher promotional costs & increase
in operating expenditure. The group recorded PBT of RM56.5m, -48% compared to the
previous year. Qoq, revenue was 23% higher, due to higher contribution from the
property development division. Operating profit was 3 folds more, mainly
attributable to higher recognition from Veritas Residensi project. PBT was 53%
higher; Ahead, we foresee Wing Tai's Klang Valley projects facing slower sales,
but expect its Penang developments to be largely intact, as the projects are
focusing on landed properties with more affordable price range. Margin erosions
in the apparel retailing segment remains a concern, due to intensifying
competition in this business segment. Going forward, on top of the group's
existing 82 retail outlets, Wing Tai plans to expand its retail presence in
FY14, adding another 14 outlets (besides Topshop and Topman) in major Klang
Valley malls while strengthening its foothold in Penang. The group is also
looking for opportunities to expand into major towns in East Malaysia.
6)Market : Barring external factors, rotational play
expected to continue into the week, with positive sentiment and support at 1830
pts in tact.
