Wednesday, May 20, 2015

Market roundup | 19 May 2015


FBMKLCI   1809.72   -13.78pts (-0.76%)      Volume 2.093b   Value RM1.996b
 
1) The KLCI slipped amid the weakening Ringgit today despite the stronger DJIA overnight which shrugged off mounting Greek Debt concerns as the next payment deadline approaches. Regionally SHCOMP jumped +3.13% today as Beijing published guidelines for economic reforms that supports the financial mkt, HSCEI +1..90%, HSI +0.37%, NIKKEI +0.68%. In the local scene, TRADING/SERVICES  lost the most grounds weighed by TENAGA -2.23%, MISC -2.10%, MAXIS -1.41%. Market breadth was negative as losers beat gainers by 406 : 360. Futures closed at 1809 (parity).
 
2) Heavyweights : TENAGA -2.23% RM 13.98, PETGAS -5.87% RM22.10, IOICORP -2.10% RM4.19, PPB -2.86% RM15.60, MISC -2.10% RM8.36, MAXIS -1.41% RM6.99, PBBANK -0.31% RM19.18, CIMB +0.84% RM6.00.
 
3) DBT: TMS 4.305mil @ RM0.065, AIM 3.53% RM0.18, VIS 3mil @ RM0.33
 
4) Situational:-
 HIBISCS -0.64% RM0.77 - Hibiscus Petroleum Bhd's (Hibiscus Petroleum) jointly-controlled entity, Lime Petroleum Norway AS (Lime Norway) will take part in the drilling of a wildcat exploration well in the Zumba prospect in PL591 in the Norwegian Sea later this month. The well, designated as 6507/11-11, will be drilled using Ocean Rig's semi-submersible Leiv Eiriksson in water depth of 272 metres in the Halten area of the Norwegian Sea, about 14.0km south-east of the Heidrun platform. Tullow Oil Norge AS1 (Tullow) is the operator of the licence.
 
5) STAR
1Q Mar 2015   Tover RM217.4m    Net +62% RM26.5m   EPS 3.6sen
            28% below cons(f) RM146.5m
 
Group revenue in 1Q 2015 increased marginally mainly due to higher revenue contribution from the Event, exhibition, interior and thematic segment. 
 
Print and Digital - Print and digital revenue contracted by 0.3% mainly due to lower print circulation and digital revenue. Overall advertising expenditure has been affected by poor consumer sentiments .   Efficiency improved partly due to its Voluntary Separation Scheme in the 1stQ 2014. 
 
Event, exhibition, interior and thematic -Revenue for this segment increased to RM38.09 million from RM30.92 million mainly due to higher exhibition and thematic segment revenue recognised by Cityneon in the current quarter under review. Higher direct cost and lower profit margin especially by Cityneon has resulted in a loss before tax amounting to RM5.29 million in this segment.
 
Despite it continued decline in print media, some excitement is expected this year from the Group's recent ann acquisition via its exhibition arm, Cityneon to buy Victory Hill Exhibitions Pte Ltd  . VHE holds the rights to provide exhibition services to Marvel until May 2017. Hold.
 
Market - Maintain current range ahead of 11th Malaysia Plan announcement on21 May.