FBM 1649.75
+8.18pts (+0.50%) Volume 950.48mil Value RM1,773mil
1) KLCI rallied for the 7th consecutive days its longest
streak since early Oct as regional markets rose on optimism of more monetary
stimulus from the US Federal Reserve tonight. Eurozone debt situation eased
after news reported Greece drew enough bonds to its buyback of sovereign debt
to meet a target necessary to obtain further aid from the IMF and EU. Market breadth was positive with gainers leading
decliners 356:289. Future closed 1653.5 (4points premium).
2) Heavyweights: DIGI+2.04% RM5.00, AXIATA+1.1% RM6.40,
PBBANK+0.63% RM15.90, TM+2.11% RM5.80, PCHEM+1.50% RM6.11, PETDAG-3.57%
RM22.68, GENM-2.02% RM3.39
3) DBT: TENAGA 60mil @ RM6.78 (1.08% PUC, 2.45%
discount), BJCORP 10mil @ RM0.55 (1.85% discount), PRTASCO 4mil @ 1.20 (12%
premium)
4) Situational:
DRBHCOM+0.41% RM2.44: DRB-Hicom's Proton has signed an
agreement to buy all engine technologies and knowledge developed by
Petronas since 1997 at RM63mil. Proton will have immediate ownership of a more
powerful yet fuel-efficient, naturally aspirated and turbocharged 2.0 litre-
and 2.2 litre-engines. To be exact, Proton is taking over seven engine
technologies with 117 technology patents from Petronas.
5) SP Setia: FY10/12 Rev+13% RM2.53b Net+20% RM393.8m EPS
20.51s Div 14s
Results 9%
above cons RM360.1m
For the current FY, the group achieved PBT of RM567m,
representing a 32% increase over the preceding year. Gross profit margins rose
to 34% from 28% LY. On the Property Development segment, Rev+17% while PBT+37%
(higher revenue recognition from residential & commercial properties in
Klang Valley, Johor Bahru & Penang. PBT increased by a higher margin from
group's success in steadily increasing the selling prices through value
creation). On Construction segment, Rev-31%, PBT-25% due to the completion of
the Kementerian Dalam Negeri contract in Setia Tropika, JB in the previous FY.
Qoq, PBT+33% due to higher profit contribution from residential &
commercial properties in Klang Valley, Penang & JB. For FY12, the group
achieved total sales of RM4.23b, a 29% increase from RM3.29b LY. Co has set a
new sales target of RM5.5b for FY13.
As at end FY2012, Co has 21 ongoing projects &
several new projects to be launched in FY2013. Most significantly, it targets
to launch it's iconic Battersea Power Station JV project in early 2013. Despite
minimal downside risk, the planned private placement, potential project risk
from the Battersea development & cautiousness ahead of the upcoming GE may
capped its price in the short term. BOW
6) Mkt: expect the KLCI to consolidate after its recent
sharp rally and on approaching resistance levels.
