June 20th - BC Daily Trading Floor

good Morning Traders 

be nimble and resilient for those holding, this is temporary

Asian Stocks Drop as Fed Signals Stimulus Cut This Year
By Jonathan Burgos - Jun 20, 2013 8:05 AM GMT+0800

Asian stocks fell, with the regional benchmark index retreating from a two-week high, after Federal Reserve Chairman Ben S. Bernanke said the central bank may reduce bond purchases later this year as the economy strengthens.

The MSCI Asia Pacific Index dropped 1.7 percent to 130.88 as of 9:04 a.m. in Tokyo. 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.]

To contact the editor responsible for this story: Nick Gentle at [You must be registered and logged in to see this link.]

china data important!

9:45am

CNY

HSBC Flash Manufacturing PMI

selamat pagi 

peanut wrote:selamat pagi 

morning

peanut wrote:

Cals wrote:

peanut wrote:selamat pagi 

morning

merah merah

Market Open KLCI dips 0.05%, tracks global markets’ retreat
Business & Markets 2013
Written by Surin Murugiah of theedgemalaysia.com
Thursday, 20 June 2013 09:14

KUALA LUMPUR (June 20): The FBM KLCI dipped in early trade on Thursday, tracking the losses at most global markets.

At 9.11am, the FBM KLCI fell 0.52% or 9.32 points to 1,763.56.

Losers beat gainers by 218 to 39, while 120 counters traded unchanged. Volume was 131.12 million shares valued at RM50.66 million.

Among the top losers in early trade were Batu Kawan, Aeon Credit, Cahya Mata Sarawak, F&N, Oriental, Aeon, Sime Darby, BAT and Sunway.

BIMB Securities Research in a market preview Thursday said Wall Street experienced strong selloff yesterday as Treasury yields surged after the Fed said the central bank may reduce its bond purchases this year as the economy strengthens.

It said the Dow Jones Industry Average plunged 1.35 percent to end at 15,112.19 wiping out most of its gains from earlier sessions.

The S&P500 was equally bad, losing 1.39 percent, to 1,628.93. Earlier in Europe, stocks ended lower in choppy action as investors were cautious ahead of the monetary policy decision from the US Federal Reserve.

Meanwhile in Asia, key indices ended mixed with strong rally in Japan as exporters performed better than analysts estimates.

The Nikkei225 outperformed regional markets by a wide margin, finishing the day 1.8 percent higher.

Other regional indices such as HSI, SHCOMP and KOSPI ended lower as investors remain cautious awaiting the outcome of the US Federal Reserve.

“Back home, the FBM KLCI ended flattish on thin trading, losing 1.17 points or 0.07 percent to 1,772.88 with net selling from foreign institutions.

“We expect the local market to trend lower today as the strong selloff in Wall Street would affect investors’ sentiment. Expect to see immediate support at 1,765/60 while resistance at 1,775/90,” it said.

Asian shares tracked the overnight drop in U.S. equities after U.S. Federal Reserve Chairman Ben Bernanke confirmed market fears that the Fed would begin reducing its stimulus later this year as the economy improved, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan slid 1.2 percent, with Australian shares easing 0.4 percent and South Korean shares opening down 1.3 percent, it said.

morning.. hmm, mudajya-co.. i think morning got ppl drunk?????

SUMATEC ... 

JF wrote:morning.. hmm, mudajya-co.. i think morning got ppl drunk?????

he he

peanut wrote:

Cals wrote:

peanut wrote:selamat pagi 

morning

merah merah

market need to rest

the volume...

MBMR ?

Yeelee looks good.

[You must be registered and logged in to see this image.]

Uprise leg now,

Kenanga Reports TP - 1.53

nitezshiro wrote:[You must be registered and logged in to see this image.]

Uprise leg now,

Kenanga Reports TP - 1.53

nitezshiro wrote:[You must be registered and logged in to see this image.]

Uprise leg now,

Kenanga Reports TP - 1.53

tq

YTLPOWR ~ wat u all recon...

somebody makan big 1 transaction

peanut wrote:YTLPOWR ~ wat u all recon...

somebody makan big 1 transaction

、

yinson, slow but moving upwards.

Malaysia

The Inflation Rate For The Month Of May Increased By 1.8% YoY, from 1.7% previously, slightly higher than market expectations of 1.7% but spot on with our own estimates. The increase in the overall price index was by and large the result of a rise in food & nonalcoholic beverage and the housing, water, electricity & other fuels index. On a monthly comparison, the inflation rate increased by 0.3% and rose by an average of 1.6% for the first five months of the year, compared to 2.1% in the same period a year ago.

SBC Corporation Bhd - Deep RNAV value


INVESTMENT MERIT

- Low land cost. Most of SBC’s landbanks were acquired between the period of 2000-2004, hence relatively low in land cost. Out of its c.134ac landbank, the bulk (59%) are located in Ulu Selangor, 23% are located in KL (mostly in the Mukim Batu area), 10% are in Kota Kinabalu (“KK”) and the remaining in Kuantan. Their Mukim Batu land is near the Taman Wahyu area while they also have niche landbank along Jln Ipoh. Landbanks in KK are in Signal Hill and Tj Lipat, which is a prime area and MAHSING has projects there that have fared well in terms of take-up rates and pricings. Their net gearing is comfortably at 0.2x which provides ample room for landbanking.

- SBC has been making in-roads into Kota Kinabalu, Sabah (KK), which is another booming market. The big boys are already there; MAHSING has recently acquired land there, while SPSETIA has kicked-off its Aeropod@Tanjong Aru project while IJMLAND has niche landbanks in the area. In May-13, they entered into a JVA with Suria Capital Holdings Bhd to undertake a mixed development project on 16.25ac land along the Jesselton Waterfront, KK. JVA is likely concluded in Dec, so we believe significant earnings contributions will only be felt from FY15 onwards. The project will have GDV of RM1.8b, in which Suria is entitled to 18% of the GDV as part of land payment; positively, the land obligations are stretched over 8 tranches over a 7 year development period.

- Risks. We note that revenue has been on a declining trend since 1Q13. However, it 4Q13, revenue did improve by 177% QoQ although it was still 8% YoY lower. We are unclear of their new launches beyond Dex Suites @ Kiara East.

- Big RNAV upsides and compelling valuations. We project FY14E net profit of RM29.3m (+10% YoY). The stock is trading at 4.8x FY14E PER and 0.4x FY14E PBV which is far below its peer (developers of RM100-500m market cap) average of 10.8x Fwd PER and 1.0x Fwd PBV. By revaluing their landbanks, particularly the KL and KK landbanks, we derive an RNAV of RM5.86. Even after applying our maximum RNAV discount of 60% on their RNAV (due to small market capitalization of RM145m), we derive a TP of RM2.35, which provides a 38% share price upside to the last price of RM1.70.



TECHNICALS

- Resistance: RM1.85 (R1), RM2.00 (R2)

- Support: RM1.69 (S1), RM1.50 (S2)

- Comments: SBC has confirmed a “Bullish Flag” chart pattern on the daily chart. This marks a resumption of an uptrend which extends back to April. The key indicators are also bullish. Hence, we believe that SBC could potentially climb higher towards RM2.00 next (“Flagpole” measurement objective).



BUSINESS OVERVIEW

- SBC Corporation Berhad is a construction and property development company listed on the Main Board of the Bursa Malaysia

- The company was founded in 1954, and has since built its reputation on the construction of high-rise buildings in Kuala Lumpur, Malaysia however the groups property development segment has caught up with current projects located in both Peninsula & East Malaysia (Kota Kinabalu, Sabah) encompassing residential condominiums and commercial developments for office and retail.



BUSINESS SEGMENTS

- The Company operates in three segments: Property Development and Construction, which undertakes earthworks and buildings contracts; Investment, which is involved in investment activities and provision of management and administrative services, and Manufacturing focusing on manufacturing and sale of construction materials.

Source: Kenanga

panas panas SUMATEC

i think something is on YTLPOWR

mudajya-co


2morrow holiday for me =D

all take care ya..
indonesia gift us free gudang garam