June 28th - BC Daily Trading Floor - last trading day of the month

Good day traders,  good home loan out of US in 3 years! 

good day expected 

last day of the trading month of June for today

greenday goodday tgif

selamat pagi 


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last day of the month

SKPetro should be the highlight too

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gold drop below $1200

gold just went off a cliff with silver

puncak, yeelee

Cals wrote:gold just went off a cliff with silver

ya, should touch 1,000?
duno when the correction stop..

JF wrote:

Cals wrote:gold just went off a cliff with silver

ya, should touch 1,000?
duno when the correction stop..

when we see it flat then we know ,

watch mining and consumption too

Cals wrote:

JF wrote:

Cals wrote:gold just went off a cliff with silver

ya, should touch 1,000?
duno when the correction stop..

when we see it flat then we know ,

watch mining and consumption too

mining and consumption? eg?

Global Markets Asian shares edge higher on global equity gains
Business & Markets 2013
Written by Reuters
Friday, 28 June 2013 08:41

TOKYO (June 28): Asian shares edged higher to extend gains for a third day on Friday, tracking an overnight rise in global equities on easing fears of an early end to U.S. monetary stimulus, but caution remained about the recently volatile Chinese markets.

Global equity markets and bonds extended gains on Thursday, recovering further from the recent acute selloff, after three U.S. Federal Reserve officials sought to downplay market fears that the central bank would soon ease its unprecedented bond-buying stimulus programme known as quantitative easing or QE.

The FTSEurofirst 300 index of top European shares rallied for a third straight day on Thursday as investors focused on data suggesting U.S. growth picking up, with consumer spending rebounding in May and jobless claims falling last week.

Investors are seeking to balance positive and negative aspects of U.S. recovery, with a steady growth trend in the world's largest economy reducing downside risks to global economies, but allowing the Fed to proceed with its plan. QE, aimed at supporting growth, has underpinned broad risk asset markets with abundant cheap credit.

"Markets have reached the stage where negative U.S. economic news is interpreted as risk positive, and vice versa. This supports our thesis that U.S. economic strength will lead to a wave of dollar repatriation, undermining economies reliant on a long period of cheap dollar funding," Morgan Stanley said in a research note.

MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.1 percent after rising 1.6 percent for a second daily gains on Thursday which took the index away from an 11-month low touched earlier in the week and wipe away this week's steep losses.

Australian shares were steady while South Korean shares opened up 0.5 percent.

Japan's Nikkei stock average opened up 1.3 percent after soaring 3 percent on Thursday for its biggest one-day percentage gain in 13 sessions.

An improving economic outlook and rising yields accompanying the Fed's announcement last week of its plan to start scaling back its aggressive monetary stimulus later this year have boosted the appeal of the U.S. dollar.

The dollar has also benefited from its safe-haven appeal as China's resolve to crack down on risky informal lending resulted in tight funding conditions, spiking money market rates to record highs and triggering worries that a crisis in China's banking system would undermine growth in the world's second-largest economy.

Chinese money market rates moderated for a fifth day on Thursday and stocks recovered some of their recent hefty losses after the central bank earlier this week moved to quell concerns, saying it had provided funds to some institutions and will do so again if needed. But confidence remained fragile as Beijing remains committed to cleaning up "shadow banking."

The strong dollar in turn weighed on dollar-denominated commodities and commodity-reliant markets, with gold taking a double whammy as a commodity and an alternative safe haven.

U.S. gold futures fell 1 percent to a session low of $1,199.50 per ounce in early Asia on Friday after liquidation by investors sent prices below $1,200 per ounce for the first time in nearly three years on Thursday. Spot gold was up 0.2 percent in early Asia on Friday at $1,201.85.

U.S. crude futures eased 0.2 percent to $96.83 a barrel.

The dollar was up 0.1 percent against a basket of major currencies after reaching a near one-month high of 83.171 on Thursday. It was up 0.2 percent against the yen to 98.53 .

In Europe, some signs of stability also emerged, with healthy demand at Italian bond auctions and the European Union agreeing on Thursday to force investors and wealthy savers to share the costs of future bank failures. - Reuters

Hot Stock SapuraKencana rises 3.6% on Petrobras job
Business & Markets 2013
Written by theedgemalaysia.com
Friday, 28 June 2013 09:19

KUALA LUMPUR (June 28): SapuraKencana Petroleum Bhd shares rose in active trade on Friday after the company announced it has won an award worth US$2.7 billion (about RM8.6 billion) from Brazil’s Petroleo Brasileiro (Petrobras) to build, charter and operate three more deepwater flexible pipe laying support vessels (PLSVs) for eight years.

At 9.05am, SapuraKencana gained 3.6% or 15 sen to RM4.12 with 1.64 million shares done.

The new contract was awarded to SapuraKencana’s associate company, Sapura Nevegacao Maritima S.A. Brazil (SNM), said a statement from SKPB.

The three new PLSVs will be built outside Brazil. And SNM has been contracted to charter and operate the new vessels for a period of 8 years, with an extension option for an additional 8 years.

The PLSVs are due to be delivered for operation from around the second quarter of 2016, and revenue from the award is expected to be generated from then, SapuraKencana said. The award is expected to contribute to the group’s net assets and future earnings, said the company.

mahsing keep watch from ahtan

UEM-Bina Puri: Main contractor of KLIA2, to appeal fine for delay. UEM-Bina Puri JV, the main contractor of KLIA2, is appealing against the liquidated and ascertained damages (LAD) fine slapped on it by Malaysia Airports Holdings Bhd (MAHB). The JV would appeal based on the terms and conditions of the contract that stated that the contractor could appeal for an extension of time (EOT) to finish up the work, as there had been many last-minute requests and additional changes made by stakeholders. (Source: The Star)

Muhibbah: Gets Petronas licence. Muhibbah Engineering (M) Bhd has been awarded a licence by Petroliam Nasional Bhd (Petronas) as an approved supplier for offshore facilities construction and major onshore fabrication works. (Source: The Star)

Construction: Iskandar-S'pore rail link to be ready by 2016. The proposed 100km inter-city rail line between Iskandar Malaysia in Johor and Singapore is set to be completed within the next 3 years, said Malaysia Steel Works Bhd CEO Datuk Seri Tai Hean Leng. The MYR1b project will be built and operated by Metropolitan Computer Network Sdn Bhd, a 60:40 joint venture project between Masteel and KUB Malaysia Bhd. (Source: The Edge Financial Daily)

Comment
We view the contract award positively and reaffirms our view that SapuraKencana is a proxy to global growth in offshore O&G production. It is a sizable order and has increased the total orderbook by 48% to RM26.6bn. However, we note that the contract will spread over 8 years and only starts contribute to FY01/17. This translates to RM1bn revenue per annum and further increase the earning visibility to FY2024.

The contract translates to charter rate of US$310k/ day for a vessel. This is the second contract SapuraKencana won after securing a US$1.4bn contract from Petrobras in Nov11.

We understand the three 500-600 tonnes PLSV will be constructed outside of Brazil and cost around ~RM800m to RM1bn per vessel (which will be jointly funded with Seadrill).

We believe the partnership with power house Seadrill is a major catalyst which will drive growth going forward.

In addition, we believe SapuraKencana and its partner has a good chance to secure the US$1.5bn Sepat front end engineering and design (FEED) contract from Petronas.

We also believe the market is undervaluing the potential of the drilling segment in Malaysia which is underpinned by massive drilling activities (~22 rigs operating in 2012 and expect to rise to 38 by end 2013) as detailed in our report titled ‘Drilling Tsunami’ dated 05 June 2013. As the world’s largest tender rig operator, SapuraKencana is one of the top picks in the drilling sector. We also like Perisai (BUY) and Scomi Energy (BUY) for the related play in drilling segment.

Risks
Execution risk,
Escalation of vessel, fabrication and drilling costs.
Forecasts
Maintained.

Rating
BUY

Positives –

Strong balance sheet and knowhow,
Global trend towards offshore production.
Negatives –

Increased competition for growth markets.
Complexities of running a larger organization.
Valuation
Maintain BUY call with an unchanged TP of RM4.74 based on 20x EPS of 23.7 sen/share based on FY01/15 EPS.

Source: Hong Leong Investment Bank Research - 28 Jun 2013

Mid-morning Market KLCI rises 0.63%, select blue chips lift
Business & Markets 2013
Written by Surin Murugiah of theedgemalaysia.com
Friday, 28 June 2013 10:19

KUALA LUMPUR (June 28): The FBM KLCI rose 0.63% at mid-morning on Friday, the final trading day of the first half of 2013.

At 10.10am, the FBM KLCI added 11.03 points to 1,762.60.

Gainers led losers by 342 to 97, while 201 counters traded unchanged. Volume was 331.82 million shares valued at RM331.76 million.

The top gainers included MBHP Capital, Tasek, BAT, KLK, Takaful, Petronas Gas, PPB, Hong Leong Bank, MNRB and UMW.

Luster was the most actively traded counter with 21.68 million shares done. The stock added half a sen to 13.5 sen.

The other actives included CLIQ, TH heavy Engineering, Astral Supreme, PDZ, Salcon and MPHB Capital.

Meanwhile, the decliners included Hong Leong Capital, F&N, Carlsberg, Amway, APM Automotive, Top Glove and Tenaga.

MIDF Research head of equity Syed Muhammed Syed Kifni said the equity market may be somewhat perturbed by the liquidity impact of tapering QE3.

However, he said he does not expect the liquidity rollback to go any length ahead of the recovery in the US real economy.

“Furthermore, as the ‘hot money’ dust settles, we expect the market to measuredly regain its upward thrust conceivably towards the last quarter of the year.

“Hence we reiterate our FBM KLCI 2013 year-end target of 1,800 points, equivalent to 16.4x current year earnings or +1.00SD (15.2x next year earnings or +0.25SD) above its 6-year average from 2007-2013,” he said.

Meanwhile, Asian shares edged higher to extend gains for a third day on Friday, tracking an overnight rise in global equities on easing fears of an early end to U.S. monetary stimulus, but caution remained about the recently volatile Chinese markets, according to Reuters.

Global equity markets and bonds extended gains on Thursday, recovering further from the recent acute selloff, after three U.S. Federal Reserve officials sought to downplay market fears that the central bank would soon ease its unprecedented bond-buying stimulus programme known as quantitative easing or QE, it said.

anyone on PBBank? yesterday saw big buying PBB-cw .... 

peanut wrote:anyone on PBBank? yesterday saw big buying PBB-cw .... 

nop~ can watch

today many highlight on sapura and gamuda

JF wrote:today many highlight on sapura and gamuda

mari kita masukkan dalam watchlist btw good or bad highlight 

TGOFFS kuat betul....

peanut wrote:

JF wrote:today many highlight on sapura and gamuda

mari kita masukkan dalam watchlist btw good or bad highlight 

TGOFFS kuat betul....

all investment bank rate good ler today 0.0

welcome back second session

yoyo market... up 1%

welcome back 


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