FBMKLCI
1822.29pts -2.10pts (-0.12%)
Volume 1.644b Value 1.622b
1) The KLCI slipped today inline with the weaker US
market overnight after the minutes from the Oct FOMC meeting provided little
insight into when interests rates could rise. In the regional market, bourses
were generally tepid today shrugging off the weaker China's HSBC flash PMI
forecasting a slowdown in activities, as SHCOMP +0.07%, HSI -0.10% and NIKKEI
+0.07% closed flat. In the local scene, PLANTATION -1.20% index led in losses
weighed down by KLK -2.78%, IOICORP -1.72%, FGV -0.58% following the marginally
weaker CPO prices. Market breadth was negative with gainers outpacing losers
today by 499 : 260. Futures closed at 1821 (1pts discount)
2) Heavyweights : CIMB -2.64% RM5.90, MISC -3.20% RM7.24,
AXIATA -0.96% RM7.20, KLK -2.78% RM22.36, TENAGA +1.74% RM13.98, MAXIS +3.33%
RM7.12, GENTING +2.45% RM9.60, SIME +1.03% RM9.75.
3) DBT : NIHSIN 11.83mil @ RM0.34 (5% PUC, 22.7%
discount), MEDAINC 5.816mil @ RM0.4930 (1.18% PUC @ 20% discount), KANGER 5mil
@ RM0.35, FABER 3.5mil @ RM2.97, YINSON 0.8mil @ RM2.60.
4) Situational:-
MINETEC +3.03% RM0.17 - Minetech Resources Bhd announced
plans to pursue new mining projects, particularly gold mining in Indonesia. The
company has signed an MOU with PT Gold Port Mineral which owns an offshore
diamond and gold mining concession in Kalimantan, with an aggregate coverage
area of 136,700ha. Minetech recently announced that it had renewed a two-year
RM42.4m contract with Selinsing Gold Mine Manager Sdn Bhd.
PERISAI -1.41% RM0.695 - Perisai Petroleum Teknologi
Bhd’s subsidiary Intan Offshore Sdn Bhd has secured a two-year extension from
Emas Offshore Pte Ltd to provide its offshore support vessels valued at
US$23mil (RM77.45mil). Perisai's 51% owned Intan Offshore had received a notice
from Emas Offshore about its extension of the contract. The initial contact was
from Sept 1, 2012 until Aug 31, 2015. The charter parties are extended for the
vessels Lewek Emerald; Bayu Intan; Lewek Eagle; Lewek Mallard and Lewek Swift.
5) VITROX
9 Months Revenue
+64% RM127.4m Net +88% RM35.4m Eps 15.22 sen
In
line with cons(f) Net RM41.8m as Q4 is seasonally weaker
Q3 Revenue
+9% RM39.51m Net -4% RM11.39m Eps 4.90 sen
Vitrox achieved revenue of RM39.51 million for the period
under review against RM36.31 million in the corresponding period of preceding
year, representing an increase of 9%. The increase in revenue against the same
quarter last year was mainly due to increase in sales from Machine Vision
System (MVS). Sales from MVS have recorded an increase of 113% against the
corresponding period of preceding year. The increase in sales recorded was
mainly due to higher demand from customers.
Profit before tax of RM11.68 million was recorded for the
current quarter and stays flat as compared to RM11.81 million recorded in the
corresponding period of preceding year. The slightly lower profit before tax
mainly due to higher expenditure was incurred for research & development
and changes in sale mix.
Correspondingly, the Group recorded a profit after tax of
RM11.39 million against profit after tax of RM11.86 million in the
corresponding quarter.
Being a competitive player in the
semiconductor/electronics industry which has positive market outlooks, and
trading at prospective PER of 13.4x, any weakness from the contagion in the
current broad market selling is an opportunity to accumulate the stock.
6) Market: the broad market is likely to face liquidation
pressure while selected index stocks continued to see support ahead of the
month end.