13 March 2013 - Wednesday

morning !!!!

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selamat pagi

Market Open KLCI dips as select blue chips weigh
Business & Markets 2013
Written by Surin Murugiah of theedgemalaysia.com
Wednesday, 13 March 2013 09:14


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KUALA LUMPUR (March 13): The FBM KLCI opened lower on Wednesday, weighed by losses at select blue chips, in line with cautious sentiment at regional markets.

At 9.10am, the FBM KLCI fell 3.72 points to 1,652.82.

Losers edged gainers by 84 to 83, while 90 counters traded unchanged. Volume was 48.81 million shares valued at RM23.88 million.

Among the early decliners were BAT, Petronas Dagangan, Keck Seng, Carlsberg, Nestle, PPB, Petronas Gas and KPJ.

BIMB Securities Research in a market preview Wednesday said that it was apparent that Wall Street is bound for a consolidation soon after registering an unconvincing high.

The research house said the Dow Jones Indutrial Average after suffering from bouts of profit taking was boosted by some last minute buying as the index closed 2.8 points higher at 14,450.

European stocks were mixed as investors have turned cautious as recent sentiments had run ahead of reality, it said.

BIMB Securities said that meanwhile Asian equities were broadly lower possibly attributed to profit taking activities after most Asian bourses have had recorded impressive positive returns thus far.

“Domestically, the FBM KLCI retraced 1.42 point to 1,656.54 as profit takings overwhelmed any buying interests in line with the regional weaknesses despite an impressive opening.

“The lack of market impetus may see some downside pressure for the index with the immediate support at the 1,655 level,” it said.

Meanwhile, investors growing wary of recent index highs and mixed signals from global equities overnight capped Asian share prices on Wednesday, while sterling remained vulnerable after weak U.K. data fed fears of a triple-dip recession, according to Reuters.

The Dow Jones Industrial Average marked another record high close on Tuesday, rising for an eighth straight day, while European shares retreated from modest gains at the end of the session, just shy of a fresh 4-1/2-year closing high, it said.

Asian Stocks Swing Between Gains, Losses After Rally
By Jonathan Burgos - Mar 13, 2013 8:51 AM GMT+0800

Asian stocks swung between gains and losses amid concern shares have risen too fast following a three-week rally that drove the regional benchmark index to a 19-month high.
Canon Inc., the world’s biggest camera maker, slipped 1.8 percent in Tokyo, on concern a stronger yen will reduce overseas income at Japanese exporters. National Australia Bank Ltd. (NAB), the country’s largest lender by assets, fell 2.2 percent after announcing plans to cut annual costs by A$800 million ($825 million) within five years. Newcrest Mining Ltd., Australia’s No. 1 gold producer, gained 3.1 percent as futures of the precious metal capped the longest rally in six months.
9:12
March 12 (Bloomberg) -- Bill Blain, a strategist at Mint Partners Ltd., talks about the euro-zone economy, Japanese equities and U.S. credit markets. He also speaks about Italian and Spanish bonds with Mark Barton and Caroline Hyde on Bloomberg Television's "Countdown." (Source: Bloomberg)
5:40
March 11 (Bloomberg) -- Michael Kurtz, global head of equity strategy at Nomura Holdings Inc. in Hong Kong, talks about the outlook for Japan's economy, government and central bank policies, and stock market. He also discusses the economies of the U.S. and Europe with Rishaad Salamat on Bloomberg Television's "On the Move." (Source: Bloomberg)
The MSCI Asia Pacific Index (MXAP) slid 0.1 percent to 136.08 as of 9:49 a.m. in Tokyo, erasing an earlier gain of 0.1 percent. The gauge rallied 2.1 percent in the past three weeks amid signs the economies of U.S. and China are recovering. Japan’s Nikkei 225 Stock Average last week erased losses from the 2008 collapse of Lehman Brothers Holdings Inc. amid speculation the Bank of Japan will step up efforts to stimulate the world’s third- largest economy.
“The market has run very very hard and it is due for a pullback,” Andrew Pease, Sydney-based chief investment strategist at Russell Investment Group, which manages about $160 billion, told Bloomberg Television. “You wouldn’t expect us to be back to pre-crisis levels any time soon given that we know we’re going to get sluggish growth going forward.”
Japan’s Nikkei 225 slipped 0.2 percent as the yen strengthened after the opposition said it wouldn’t support a pro-stimulus nominee for central bank deputy governor. Australia’s S&P/ASX 200 Index fell 0.3 percent, while New Zealand NZX 500 Index dropped 0.6 percent. South Korea’s Kospi Index was little changed. Markets in China and Hong Kong have yet to open.
To contact the reporter on this story: Jonathan Burgos in Singapore at [You must be registered and logged in to see this link.]
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Takeover offer made for Emas Kiara at 45 sen a share
Business & Markets 2013
Written by Chong Jin Hun of theedgemalaysia.com
Wednesday, 13 March 2013 09:35


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KUALA LUMPUR: EMAS KIARA INDUSTRIES BHD [] has received a 45 sen per share takeover offer from its founder and deputy executive chairman Wong Kong Foo.

In a statement to the exchange, the company said Wong, who had just raised his stake from 31.54% to 37.29% in Emas Kiara, has offered to buy the remaining 35.94 million shares or 40.27% in the company “not held by him and persons who have irrevocably undertaken not to accept the offer”.

“The board of directors of the company does not intend to seek an alternative offer,” said Emas Kiara.

While the 45 sen offer price is a 23% premium over the stock’s last traded price of 36.5 sen on Monday, the offer is a 52% discount to Emas Kiara’s latest reported book value of 93 sen. Trading in the shares in Emas Kiara, a geotechnical engineering services provider and property developer, was suspended yesterday.

Wong had to make a takeover offer for Emas Kiara after he bought a controlling stake in Eastern Courtyard Sdn Bhd. The latter owns 5.75% of Emas Kiara, which raised Wong’s stake to 37.29%.

Malaysia’s threshold for takeover offers is 33% of a company’s issued and paid-up capital.



This article first appeared in The Edge Financial Daily, on March 13, 2013.

morning

Maxis and maybank

JF wrote:morning

Maxis and maybank

wooo...

index turun but depa boleh tahan....

and now me stuck di AT

affin also power 0.0

Hot Stock Benalec up on RM3b Johor MoU
Business & Markets 2013
Written by Shalini Kumar of theedgemalaysia.com
Wednesday, 13 March 2013 09:57


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KUALA LUMPUR (Mar 13): Benalec Holdings Bhd’s shares rose in early trades on the back of news that its 70% owned unit, Spektrum Kukuh Sdn Bhd, had entered into a binding term sheet with the State Secretary, Johor and 1MY Strategic Oil Terminal Sdn Bhd.

At 9.29am, Benalec was trading at RM1.26, up one sen or 0.8%, having hit a high of RM1.28 earlier. 2.5 million shares changed hands, putting it on the top active and top turnover boards across the exchange.

The Edge Financial Daily on Wednesday said the term sheet was for reclamation works and the sale of approximately 1,000 acres off the coast of Tanjung Piai, “for the purpose of constructing and operating a crude oil and petroleum storage facility together with a private jetty.

In its announcement to Bursa Malaysia yesterday, Benalec did not disclose the value of the transaction, however, sources were reported as saying the reclaimable tracts of land were initially priced at over RM3 million per acre.

However, given that 1,000 acres is a huge plot, the pricing could come in lower at about RM2.5 million to RM3 million per acre.

The sale and purchase agreement is to be signed at a later date – but it is understood that Benalec is to see earnings from the reclamation works reflected in its financial year ending June 30, 2014.

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ada okay ka? [You must be registered and logged in to see this image.] advice pls [You must be registered and logged in to see this image.]

kuatnya RCECAP.....

wah... affin di-main-kan..

JF wrote:wah... affin di-main-kan..

index kaputing....

Sunyi sepi...

ada peluang or takde peluang.... moh kita find stock yang bagus untuk when market rebound today or 2moro....

kalau ada kasi kongsi la bersama...hehehe....

indeed

Cals wrote:indeed

Hot Stock Valuation, growth prospects lift Kossan
Business & Markets 2013
Written by Chong Jin Hun of theedgemalaysia.com
Wednesday, 13 March 2013 11:26


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KUALA LUMPUR (Mar 13): Investors bought KOSSAN RUBBER INDUSTRIES BHD [] shares, lifting the stock by as much as 4%. Analysts said the rubber glove manufacturer is undervalued amid its earnings growth prospects.

At 10.57 am, Kossan changed hands at RM3.50 with some 651,000 shares done after gaining as much as 13 sen to RM3.54 earlier. Kossan was the third-largest gainer across the bourse this morning.

"Investors are accumulating the stock on cheap valuations," an analyst from RHB Research Institute Sdn Bhd told theedgemalaysia.com.

The analyst said Kossan shares are trading a forward price-to-earnings ratio of eight times versus the industry average of 12 to 13 times.

The recently-concluded financial reporting season saw rubber glove producers meeting the market's earnings expectations for the industry.

Kenanga Investment Bank Bhd wrote in a recent note that sales volume grew in quarterly terms across the four companies covered by the research house, led by Kossan.

"We are maintaining our neutral rating on the sector. Our only outperform call is on Kossan," said Kenanga which has a fair value of RM3.64 for the stock.

According to Kenanga, Kossan's new production facilities, which can manufacture 1.3 billion pieces of nitrile gloves and 600 million pieces of surgical gloves a year, are commercially ready.

The research firm said the new production lines are expected to contribute to the manufacturer's earnings growth in financial year (FY) ending December 31, 2013.

"Kossan has managed to secure buyers for more than 85% of the new capacity," Kenanga said.

Kossan reported a 16% rise in net profit to RM104.45 million in FY12 from RM89.68 million a year earlier.

Report Negri royal family bids for RM13b coal-fired plant project
Business & Markets 2013
Written by Ho Wah Foon of theedgemalaysia.com
Wednesday, 13 March 2013 12:52


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KUALA LUMPUR (March 13): The Negri Sembilan royal family has made a surprise move to join major power generators to make pre-qualification submissions for a 2GW greenfield coal power plant project possibly costing RM12-14 billion, according to CIMB.

“A bid by Automan Energy, supported by the Negri Sembilan royal family, was a surprise as news reports once hinted of an exit by the Negri Sembilan royal family,” said CIMB analyst Yeoh Yung Juen in his flash note this morning.

But Yeoh opined 1Malaysia Development Bhd (1MDB) and TENAGA NASIONAL BHD [], which are state-controlled, might outbid other players that include Malakoff Bhd and YTL POWER INTERNATIONAL BHD [] and Automan.

The Energy Commission called for Requests For Qualification (RFQ) on Dec 18, 2012, and it received seven submissions for Project-3B on Mar 11, 2013.

According to the CIMB report, the government’s Project-3B is a 2x1000MW greenfield coal-fired power plant project that will be commissioned in stages from Oct 2018 to Apr 2019.

Shortlisted bidders will be announced in April 2013 and invited to join in the tender process.

“If we use the Prai gas-fired power-plant tender results as a guide, we believe 1MDB and Tenaga will submit the most competitive bids. Both are backed by sovereign capital and may have lower hurdle rates to meet,” said Yeoh.

“As Tenaga monopolises transmission in Malaysia, we believe its bid would be aggressive, based on its industry expertise and knowledge,” he added.

On the cost of the project, the CIMB analyst said going by the Janamanjung and Tanjung Bin extension awards in 2010, the total cost for Project-3B may be within RM12 billion to RM14 billion.

Yeoh maintains his “overweight” call on the power sector as he sees catalysts coming from ETP-backed electricity demand and power-plant tenders.

He said his top pick is Gas Malaysia Bhd, with target price of RM3.07, for its defensive earnings, debt-free balance sheet and strong cash flows.

He recommends investors to accumulate Tenaga now (Trading Buy, TP at RM8.55) as future tender awards would catalyse its stock. But he added Tenaga “is not an outperform due to election risks”.

i copy from someone wall (@Khairykj: PM had an audience with Agong. If PMO calls for a Press Conference, this afternoon then that's that. #GE13)

another copy from same person wall
(@Khairykj: But then again it is Wednesday. And PM has an audience with Agong every Wednesday. So could be nothing.)

cepat lah announce...

JF wrote:cepat lah announce...

hehe

waaaa...Tenaga climb back

tenaga vrooommmm

Cals wrote:tenaga vrooommmm