20051006 Market Roundup JetFM
Plantation counters minimized the bearish trend
At 5 pm, the Kuala Lumpur Composite Index (KLCI) lost 1.26 points to 926.25. Volume expanded to 468.11 mln shares valued at RM779.87 mln. Losers outpaced gainers 457 to 245, while 307 counters were unchanged and 406 untraded. The Emas Index dropped 0.60 points to 210.76, while the Second Board declined 0.43 points to 87.37. Stocks were mostly lower except for plantation counters, which continued to extend their gains in an otherwise lackluster market. Among blue chips, Tenaga at RM10.80, Malayan Banking at RM11.50 and Telekom at RM10.30 were all unchanged. TMC Life Sciences at 91.5 sen made an impressive debut on the MESDAQ Market with 53.5 sen higher than its reference price of 38 sen. The counter was the top gainer for today.
Shares of Indonesia's 3rd largest mobile phone operator, PT Excelcomindo Pratama Tbk, jumped 18% on Thursday after the company predicted it would be profitable next year. In a 2005 to 2007 financial projection seen by Reuters on Thursday, Excelcom said it would post net loss of IDR204.6 bln on the weak currency, 4.5 times its 2004 loss, but that it expected a net profit of IDR198.3 bln next year. The company plans to increase its market share from around 11% in the middle of 2005 to 17% by 2007 as it sees the total number of cellular phone users in Indonesia growing to 62 mln by the end of 2007. The company also plans to raise IDR5 tln worth of bonds by 2007 and repay IDR3.5 tln of its debts in the same year. The company's net debt to equity ratio was expected to increase to 1.6 times from 0.9 times.
Khazanah National, through its Amsterdam-based unit Santubong Investments BV, has launched a tender offer to acquire a further 42.07% stake or 1.65 bln shares in PT Bank Lippo at IDR1,620 each. According to market regulations, Khazanah has to make a tender offer for the remaining shares in Bank Lippo after buying a 52.05% stake from the former controlling shareholder Swissasia Global, Santubong said in a statement. The acquisition raised Khazanah's stake in Bank Lippo to 56.93%. Khazanah paid more than IDR3 tln to Swissasia for the 52.05% stake in Lippo, which Swissasia had previously acquired from now-defunct Indonesian Bank Restructuring Agency (IBRA) in 2003 for only IDR1.2 tln. Santubong said the tender offer price represents 2.6 times Lippo's book value as of end-June, or a 27.56% premium to Lippo's highest price during the previous 90 days before Khazanah 1st announced its acquisition plan on July 4.
Among Plantations stocks, IOI Corp at RM12.60 (+30 sen); IJM Plantation at RM1.25 (+3 sen); Batu Kawan at RM7.05 (+15 sen); Kuala Lumpur Kepong at RM8.10 (+10 sen); Kulim at RM2.95 (+4 sen); PPB Group at RM4.40 (+2 sen); Guthrie Ropel at RM3.80 (+6 sen); Kretam Holdings at 55.5 sen (+1.5 sen); Kretam ICULs at 30 sen (+11.5 sen). TH Group Warrants at 17 sen shed 1 sen was the most active counter with 26.30 mln shares done.
Among highlights for today, MISC at RM9.25 (unchanged); Shell Refining at RM11.60 (+20 sen); Genting at RM21.50 (-20 sen); PECD at 48.5 sen (-0.5 sen); Sunrise at RM1.46 (-2 sen); Nextnation Communication at 63.5 sen (-5 sen); Utusan Melayu at RM1.13 (unchanged).
Japan's Nikkei 225-Average share index suffered its biggest 1-day fall in 6 months on Thursday, as nervous investors took profits after overnight falls in US stocks. The Nikkei ended down 2.41% to 13,359.91. Crude oil and coal stocks lost 4.2% with upstream companies suffered the most, depressed by a fall in crude oil futures in New York. Electrical machinery, which has lagged the market in general this year because of skepticism about earnings potential, fell 3.4%. Some domestically focused sectors were hit badly too. Securities plunged 3.9%, with banking down by 4.2%. The banking sector was hit by Mizuho's announcement of a share sale. Some traditionally defensive stocks fared relatively well, as investors sought safe havens. Pharmaceuticals lost 1.3%. But even the highly defensive electric and gas sector declined by 2%.
The whole region was in bearish trend, Hong Kong's Hang Seng at 14,839.30 (-2.12%); Singapore's STI at 2,289.47 (-1.57%); South Korea's KOSPI at 1,202.49 (-2.03%); Taiwan's TWSE at 6,095.81 (-0.64%); Thailand's SET at 711.66 (-0.77%); Philippines' PCOMP at 1,939.35 (-0.08%); Indonesia's JCI at 1,096.376 (-0.70%).
At 5 pm, the Kuala Lumpur Composite Index (KLCI) lost 1.26 points to 926.25. Volume expanded to 468.11 mln shares valued at RM779.87 mln. Losers outpaced gainers 457 to 245, while 307 counters were unchanged and 406 untraded. The Emas Index dropped 0.60 points to 210.76, while the Second Board declined 0.43 points to 87.37. Stocks were mostly lower except for plantation counters, which continued to extend their gains in an otherwise lackluster market. Among blue chips, Tenaga at RM10.80, Malayan Banking at RM11.50 and Telekom at RM10.30 were all unchanged. TMC Life Sciences at 91.5 sen made an impressive debut on the MESDAQ Market with 53.5 sen higher than its reference price of 38 sen. The counter was the top gainer for today.
Shares of Indonesia's 3rd largest mobile phone operator, PT Excelcomindo Pratama Tbk, jumped 18% on Thursday after the company predicted it would be profitable next year. In a 2005 to 2007 financial projection seen by Reuters on Thursday, Excelcom said it would post net loss of IDR204.6 bln on the weak currency, 4.5 times its 2004 loss, but that it expected a net profit of IDR198.3 bln next year. The company plans to increase its market share from around 11% in the middle of 2005 to 17% by 2007 as it sees the total number of cellular phone users in Indonesia growing to 62 mln by the end of 2007. The company also plans to raise IDR5 tln worth of bonds by 2007 and repay IDR3.5 tln of its debts in the same year. The company's net debt to equity ratio was expected to increase to 1.6 times from 0.9 times.
Khazanah National, through its Amsterdam-based unit Santubong Investments BV, has launched a tender offer to acquire a further 42.07% stake or 1.65 bln shares in PT Bank Lippo at IDR1,620 each. According to market regulations, Khazanah has to make a tender offer for the remaining shares in Bank Lippo after buying a 52.05% stake from the former controlling shareholder Swissasia Global, Santubong said in a statement. The acquisition raised Khazanah's stake in Bank Lippo to 56.93%. Khazanah paid more than IDR3 tln to Swissasia for the 52.05% stake in Lippo, which Swissasia had previously acquired from now-defunct Indonesian Bank Restructuring Agency (IBRA) in 2003 for only IDR1.2 tln. Santubong said the tender offer price represents 2.6 times Lippo's book value as of end-June, or a 27.56% premium to Lippo's highest price during the previous 90 days before Khazanah 1st announced its acquisition plan on July 4.
Among Plantations stocks, IOI Corp at RM12.60 (+30 sen); IJM Plantation at RM1.25 (+3 sen); Batu Kawan at RM7.05 (+15 sen); Kuala Lumpur Kepong at RM8.10 (+10 sen); Kulim at RM2.95 (+4 sen); PPB Group at RM4.40 (+2 sen); Guthrie Ropel at RM3.80 (+6 sen); Kretam Holdings at 55.5 sen (+1.5 sen); Kretam ICULs at 30 sen (+11.5 sen). TH Group Warrants at 17 sen shed 1 sen was the most active counter with 26.30 mln shares done.
Among highlights for today, MISC at RM9.25 (unchanged); Shell Refining at RM11.60 (+20 sen); Genting at RM21.50 (-20 sen); PECD at 48.5 sen (-0.5 sen); Sunrise at RM1.46 (-2 sen); Nextnation Communication at 63.5 sen (-5 sen); Utusan Melayu at RM1.13 (unchanged).
Japan's Nikkei 225-Average share index suffered its biggest 1-day fall in 6 months on Thursday, as nervous investors took profits after overnight falls in US stocks. The Nikkei ended down 2.41% to 13,359.91. Crude oil and coal stocks lost 4.2% with upstream companies suffered the most, depressed by a fall in crude oil futures in New York. Electrical machinery, which has lagged the market in general this year because of skepticism about earnings potential, fell 3.4%. Some domestically focused sectors were hit badly too. Securities plunged 3.9%, with banking down by 4.2%. The banking sector was hit by Mizuho's announcement of a share sale. Some traditionally defensive stocks fared relatively well, as investors sought safe havens. Pharmaceuticals lost 1.3%. But even the highly defensive electric and gas sector declined by 2%.
The whole region was in bearish trend, Hong Kong's Hang Seng at 14,839.30 (-2.12%); Singapore's STI at 2,289.47 (-1.57%); South Korea's KOSPI at 1,202.49 (-2.03%); Taiwan's TWSE at 6,095.81 (-0.64%); Thailand's SET at 711.66 (-0.77%); Philippines' PCOMP at 1,939.35 (-0.08%); Indonesia's JCI at 1,096.376 (-0.70%).
posted by emacro @ 6:10 AM
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