FBM30 1673.07 -1.6
pts ( -0.1%) Volume 1.599b Value RM1.691b
1) The KLCI traded lower for most of the day in choppy
trading, before closing -1.6 points on slightly improved volume. The lower
close was despite the recovery in regional markets, marking it's first advance
in 4 days. Market volume continues to be dominated by penny
stocks TIGER+14%, INGENCO+17%, AMEDIA +13%, THHEAVY -4%. The
Technology sector +2.2% outperformed, led by JCY +10%, UNISEM +2%, GTRONIC +0.7%.
Market breath was again negative, with losers edging gainers 353:342. Futures
closed 1673 pts ( parity).
2) Heavyweights: GENM +2% RM3.59, PCHEM +1.6% RM6.50,
PARKSON +1.4% RM4.85, MISC +1.2% RM4.24, MMCCORP-3.3% RM2.61, PPB-3% RM13.46,
ASTRO -1.8% RM2.71, BAT-1.6% RM63.24.
3) DBT: HUBLINE-WA 41.3m @ RM0.03 ( 2.7% of PUC), MAGNA
15m @ RM0.75 ( 10% disc).
4) Situationals
IGB -0.4%: after it was reported in variuos Taipei media
that Co had won a NT$80b (RM8.36b) development project in Taipei. According to
the report, the IGB-led consortium Taipei Gateway International Development Co
Ltd had won a bid to build Taiwan's Twin Tower after a competitive process,
fending off challenges from 2 other groups. IGB's partners in the bid are said
to be Japanese & Taiwanese companies. The project, sited at Taipei's main
railway station, is Taiwan's biggest urban development initiative.
5) TENAGA
FYE 8/2012
Tover +11.2% RM35.85bn Net
4.2bn EPS 76.8sen
Excl fuel
cost compensation +4.9% vs cons(f) RM2.80bn
The company recorded YOY electricity demand growth of
4.3% for Pen. Malaysia, in line with the targeted country GDP of 4.5%.
Operating expense grew 7.7% mainly due to fuel costs +23.9% and TNB general
expense +96.4%. Average coal price recorded for the year was slightly lower at
USD103.6/mtn vs USD106.9/mtn. Net earnings after adjusting for fuel cost
compensation (RM1.48bn) and translation loss (-RM230.8m) totaled RM2.94bn. Total debt stood at RM23.1bn but TNB has
gradually reduced its forex exposure comprising 12.4% USD and 22.7% Yen.
Foreign shareholdings has stabilized at 12.6%.
HOLD
6) Market - Immediate market direction will take its cue
from the US market which resumes trading tonight ahead of important job data on
Friday.
