FBMKLCI
1850.73 +3.86pts (+0.21%)
Volume 1.804b Value 2.029b
1) The KLCI saw range bound trading in the negative
territory after the US market closed lower overnight as investors weighed a
batch of mixed economic data, the CI however, was catapulted into the green
towards market close as window dressing activities boosted selected bluechip
stocks, namely FGV +3.07%, KLK +2.97, GENTING +2.78%, IOICORP +0.62%, PETGAS
+0.92%. In the regional markets, bourses were mostly positive as HSI +1.06% led
the in gains just before the release of Chinese Manufacturing Data next week;
NIKKEI +0.50%, HSCEI +1.30%, ASX +0.31; while SHCOMP fell -0.24%. PLANTATION
+1.30%, was the outperforming sector today helped by gains in KLK,FGV, IOICORP.
Market breadth was neutral, 381 : 380. Futures closed 1849 (1 pt discount).
2) Heavyweights: GENTING +2.78% RM9.97, KLK +2.97%
RM24.92, FGV +3.07% RM4.70, PCHEM +1.18% RM6.81, AXIATA +0.60% RM6.66, TM
-4.35% RM5.93, TENAGA -1.15% RM11.98, PBBANK -0.72% RM19.16.
3) DBT: MEGB 12mil @ RM0.40 (2.92% PUC @ 14% discount),
CWORKS 10mil @ RM0.26 (9.09% PUC @ 8.8% discount), STAR 10mil @ RM2.40 (1.35%
PUC), OCK 8.55mil @ RM1.06 (3.00% PUC @ 8.7% discount), TITIJYA 1.6mil @
RM1.8763.
4) Situational:-
GPACKET -9.61%
RM0.47/ TM -4.35% RM5.93 - announced that Telekom Malaysia Bhd (TM) will fork
out RM350 million via the subscription of new shares for a 57% stake in Packet
One Networks Sdn Bhd, paving the way for the latter into the wireless broadband
field. TM will also invest up to RM210 million into Green Packet Bhd via newly
issued redeemable exchangeable bonds, which may be exchangeable into Green
Packet's stake in P1 in the future. As part of an investment agreement Green
Packet and South Korea's SK Telecom Co. Ltd will remain as key strategic
shareholders of P1. The pact will see the parties collaborate on developing
next-generation Long Term Evolution infrastructure.
5)CRESCENDO: FY01/14 Rev+10% RM310.4m Net+118% RM121.2m
EPS 57.2s Div 16s
Core
earnings in line with cons RM83.6m
For FY yoy, the increase in Revenue & PBT was mainly
due to higher sales in industrial properties. The substantial increases in PBT
were also contributed by the higher profit margin as a result of change in
sales mix with higher contribution fron higher margin industry property sales
and FV changes of investment properties amounting to RM39m. Segmental, Revenue
from Property development & construction +15% while Operating profit +47%.
Manufacturing & trading division's revenue -16% but PBT +130% ( due to
general improvement in profit margin & higher sales for export market which
carries better margins). Qoq, PBT -35%, mainly due to lower industrial property
sales in this quarter and higher gain on FV changes of investment properties in
the preceding quarter. We continue to like Crescendo as a small-mid cap proxy
to the Johor play for its rich margins, industrial and affordable housing play.
6) Market : Ahead of the quarterly closing on Monday,
advocate selling in strength on some recent out-performers should opportunity
arise, Digi, Astro, Misc.