FBMKLCI
1861.75 -2.56pts (-0.14%)
Volume 3.581b Value 2.473b
1) The KLCI broke its winning streak after the index saw
choppy trading thruout the day before closing in the red following the weaker
US market over the weekend. In the regional market, SHCOMP +0.57% touched an 8
month high despite weaker housing data as well as investment data; the HSI
closed flat at 0.00%. In the local market, PROPERTY +0.84% index was the
outstanding sector today boosted by SPSETIA +2.61%, KSL +6.21%, SYMLIFE+7%
whilst the PLANTATION -0.69% sector remained lacklustre as CPO continue to decline
towards the 2000pts baseline. Market breadth was skewed towards the positive
today after gainers inched past losers by 454 : 437. Futures closed at 1861.5 (parity).
2) Heavyweights : PBBANK +0.52% RM19.24, UMW +3.34%
RM12.36, RHBCAP +3.11% RM9.28, MAXIS +0.92% RM6.57, BAT -2.70% RM70.40, PPB
-2.91% RM14.68, GENTING -1.01% RM9.80, YTL -1.87% RM1.57.
3) DBT : GLOTEC 85.56mil @ RM0.05 (1.59% PUC @ 42.4%
discount), APFT 6mil @ RM0.15 (1.90% PUC @ 16.7% discount), BJLAND 4.5mil @
RM0.775 (7.2% discount).
4) Situational:-
TGUAN +8.33%
RM2.86 - Thong Guan Industries Bhd is allocating about RM100.0m as capital
expenditure till 2016 to position itself as a producer of high-value packaging
materials and solutions in Asia Pacific. About 40.0% or RM40.0m of the
investment would be for the production of high-end packaging materials and
solutions at its Sungai Petani plant. While about RM5.0mil or 5.0% would be
invested in the research and development (R&D) centre to purchase the
necessary machinery and equipment. The centre will help us to develop a new
range of highvalue plastic packaging solutions for our targeted customers in
Asia Pacific.
ASTINO +1.10% RM1.83 - Roofing product maker Astino Bhd
plans RM100.0m next year to expand its multi-system agro-house business in
Penang. The plan was to set up another multi-system agro-house production
facility to raise the contribution of the business to the group's revenue of
15% on two years. Presently the business generates about 10% of the group's
yearly turnover. The company want to focus more on this segment because the
residential construction sector is slowing down in the country, reducing the demand
for roofing products.
5) Wing Tai
FYE 6/2014
Tover -25% RM434.6m Net -47%
RM70.4m EPS 22.4sen
9% below
cons(f) 77.3m The lower revenue recorded was mainly due to the lower revenue
from the property development division as revenue from property development
division was RM220.5 million in the current year compared with RM395.2 million
in the corresponding year. This situation arose from lower revenue recognition
from the Verticas Residensi project in the current year. Hence operating profit
of the property development division was RM55.2 million in the current year
compared with RM135.4 million in the corresponding year.
The revenue from the retail division was RM185.3 million
in the current year compared with RM179.1 million in the corresponding year
while operating profit was RM24.7 million in the current year compared with
RM35.7 million in the corresponding year due to highly promotional trend and
increase in operating cost.
Joint ventures of RM7.1 million was also lower compared
with RM8.8 million in the corresponding year.
Neutral - Trading in line with most mid cap developers at
a valuation of 10.3x PE.
6) Market - Rotational play to continue in mid caps but
the undertone of the broader market will be determined in the next two weeks
with most big caps reporting quarterly numbers