20051026 Market Roundup JetFM
Rebound on buying of selected blue chips
At 5 pm, the Kuala Lumpur Composite Index (KLCI) added 0.46 points to 905.21. Volume expanded to 296.19 mln shares valued at RM553.75 mln. Losers outpaced gainers 356 to 286, while 332 counters were unchanged and 446 untraded. The Emas Index increased 0.29 points to 205.76, while the Second Board fell 0.17 points to 83.43. Some institutional buying of oversold selected blue chips nudged the KLCI marginally higher, but the overall breadth of the market was still lackluster. Among blue chips, Tenaga lost 10 sen to RM10.20, Malayan Banking closed at RM11.50 was unchanged, while Telekom was 5 sen lower to RM9.90. Asia Poly Holdings made its debut on the MESDAQ Market 29.5 sen higher to 63.5 sen against its IPO price of 34 sen. The counter was the most active with 16.24 mln shares done.
Top Glove Corp may build a biomass plant to power its factories in Klang, which will allow it to cut energy costs sharply. Its Ipoh factory is now powered by biomass, saving RM0.5 mln monthly. It currently uses different energy sources for its 11 factories in 3 countries. Other local plants are powered by natural gas, while the one in China uses coal. It is in the midst of converting the energy source for 2 factories in Thailand from liquefied petroleum gas to biomass, and is expecting big savings on the switch in a few months. It is not clear how much it needs to invest for a biomass plant in Klang but Top Glove spent about RM5 mln to set up the plant in Ipoh. Top Glove at RM5.05 declined 5 sen.
Oriental Holdings' (RM4.02 unch) 60% owned Oriental-Hyundai aims to increase the sales of Hyundai cars by 30% p.a. Oriental Holdings expects to sell more than 8,000 units in 2005 from 3 Hyundai models it assembles. Since it began assembling Hyundai CKD (completely knocked-down) vehicles, it has managed to increase its sales volume by 20% annually. Oriental-Hyundai said the new Hyundai Sonata could be assembled in mid-2006 and that prices of cars will not drop. Oriental-Hyundai may later cross-sell Hyundai cars with Hyundai-Sime Darby, the distributor of CBU (fully imported) Hyundai cars.
Penerbangan Malaysia is looking for other financing options following the recent deferrment of its USD1 bln bond sale. Its corporate services vice-president Shahril Mokhtar said the next round of fund raising exercise would not necessarily be confined to bond sales. Currently, PMB is still considering the various financing options available in the market. Malaysian Airline System at RM3.08 improved 4 sen.
Digi (RM6.20;+5 sen) reported its 3Q2005 earnings rose 73.2% YoY and profits also rose 41.5% YoY for the YTD period. Revenues rose 29.1% oY in 3Q2005 while rising 26.4% for the 9 month period. Finance costs dropped 94.7% (51.2% for the YTD period), contributing to the profit growth. Profit from operations rose 47.4% YoY for the quarter (26.9% YoY for the YTD period). Almost 93% of revenues for the YTD period were mobile related and wholesale sales contributed 5.6%. The subscriber base rose to almost 4.2 million as Sept2005. Prepaid ARPU was stable at RM54 while the blended ARPU dropped slightly to RM58. EBITDA margin improved by 0.7% to 43.9% from 43.2% achieved in the preceding quarter due to reduced finance charges.
Among other highlights today, Kulim at RM2.62 (+2 sen); QSR Brands at RM3.22 (unchanged); Southern Bank at RM3.82 (+2 sen); Bumiputra-Commerce at RM5.50 (-15 sen); Maxis Communications at RM8.95 (+25 sen); AirAsia at RM1.63 (+7 sen); Suremax Group at 23 sen (-1 sen); Unimech Group at 42 sen (unchanged); Perisai Petroleum Teknologi at RM1.26 (unchanged); Sime Darby at RM6.15 (+5 sen).
Japanese stocks rose on Wednesday, with broad increases across the board that included export and domestically focused stocks. The Nikkei 225-Average finished trading up 0.86% to 13,395.02. The transport equipment sector, whose reliance on exports makes it highly sensitive to any changes in sentiment on the US economy, was up 1.1% despite an unexpected fall in US consumer confidence overnight. Sentiment towards export stocks was supported by strong monthly export figures published by the Japanese government on Wednesday. But the domestic real estate sector continued its riseon by expectations of strong demand for office property. Construction companies rose on a UBS report saying they would benefit from the need to rebuild office property put up during the 1965 to 1975 construction boom. The securities sector rose 1.6%, continuing to benefit from recent high share trading volume.
At 5 pm, the Kuala Lumpur Composite Index (KLCI) added 0.46 points to 905.21. Volume expanded to 296.19 mln shares valued at RM553.75 mln. Losers outpaced gainers 356 to 286, while 332 counters were unchanged and 446 untraded. The Emas Index increased 0.29 points to 205.76, while the Second Board fell 0.17 points to 83.43. Some institutional buying of oversold selected blue chips nudged the KLCI marginally higher, but the overall breadth of the market was still lackluster. Among blue chips, Tenaga lost 10 sen to RM10.20, Malayan Banking closed at RM11.50 was unchanged, while Telekom was 5 sen lower to RM9.90. Asia Poly Holdings made its debut on the MESDAQ Market 29.5 sen higher to 63.5 sen against its IPO price of 34 sen. The counter was the most active with 16.24 mln shares done.
Top Glove Corp may build a biomass plant to power its factories in Klang, which will allow it to cut energy costs sharply. Its Ipoh factory is now powered by biomass, saving RM0.5 mln monthly. It currently uses different energy sources for its 11 factories in 3 countries. Other local plants are powered by natural gas, while the one in China uses coal. It is in the midst of converting the energy source for 2 factories in Thailand from liquefied petroleum gas to biomass, and is expecting big savings on the switch in a few months. It is not clear how much it needs to invest for a biomass plant in Klang but Top Glove spent about RM5 mln to set up the plant in Ipoh. Top Glove at RM5.05 declined 5 sen.
Oriental Holdings' (RM4.02 unch) 60% owned Oriental-Hyundai aims to increase the sales of Hyundai cars by 30% p.a. Oriental Holdings expects to sell more than 8,000 units in 2005 from 3 Hyundai models it assembles. Since it began assembling Hyundai CKD (completely knocked-down) vehicles, it has managed to increase its sales volume by 20% annually. Oriental-Hyundai said the new Hyundai Sonata could be assembled in mid-2006 and that prices of cars will not drop. Oriental-Hyundai may later cross-sell Hyundai cars with Hyundai-Sime Darby, the distributor of CBU (fully imported) Hyundai cars.
Penerbangan Malaysia is looking for other financing options following the recent deferrment of its USD1 bln bond sale. Its corporate services vice-president Shahril Mokhtar said the next round of fund raising exercise would not necessarily be confined to bond sales. Currently, PMB is still considering the various financing options available in the market. Malaysian Airline System at RM3.08 improved 4 sen.
Digi (RM6.20;+5 sen) reported its 3Q2005 earnings rose 73.2% YoY and profits also rose 41.5% YoY for the YTD period. Revenues rose 29.1% oY in 3Q2005 while rising 26.4% for the 9 month period. Finance costs dropped 94.7% (51.2% for the YTD period), contributing to the profit growth. Profit from operations rose 47.4% YoY for the quarter (26.9% YoY for the YTD period). Almost 93% of revenues for the YTD period were mobile related and wholesale sales contributed 5.6%. The subscriber base rose to almost 4.2 million as Sept2005. Prepaid ARPU was stable at RM54 while the blended ARPU dropped slightly to RM58. EBITDA margin improved by 0.7% to 43.9% from 43.2% achieved in the preceding quarter due to reduced finance charges.
Among other highlights today, Kulim at RM2.62 (+2 sen); QSR Brands at RM3.22 (unchanged); Southern Bank at RM3.82 (+2 sen); Bumiputra-Commerce at RM5.50 (-15 sen); Maxis Communications at RM8.95 (+25 sen); AirAsia at RM1.63 (+7 sen); Suremax Group at 23 sen (-1 sen); Unimech Group at 42 sen (unchanged); Perisai Petroleum Teknologi at RM1.26 (unchanged); Sime Darby at RM6.15 (+5 sen).
Japanese stocks rose on Wednesday, with broad increases across the board that included export and domestically focused stocks. The Nikkei 225-Average finished trading up 0.86% to 13,395.02. The transport equipment sector, whose reliance on exports makes it highly sensitive to any changes in sentiment on the US economy, was up 1.1% despite an unexpected fall in US consumer confidence overnight. Sentiment towards export stocks was supported by strong monthly export figures published by the Japanese government on Wednesday. But the domestic real estate sector continued its riseon by expectations of strong demand for office property. Construction companies rose on a UBS report saying they would benefit from the need to rebuild office property put up during the 1965 to 1975 construction boom. The securities sector rose 1.6%, continuing to benefit from recent high share trading volume.
posted by emacro @ 7:37 AM
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