KLCI dips to below 1,580-level, blue chips drag

KUALA LUMPUR (April 25): The FBM KLCI closed below the 1,580-point level on Wednesday, reversing its gains earlier in the morning session, weighed by losses including Genting, Tenaga, CIMB, KLK and Petronas Dagangan.

The index fell 2.93 points to 1,579.35.

Market breadth was weak with 405 losers, 315 gainers and 346 counters trading unchanged. Volume was 1.47 billion shares valued at RM1.53 billion.

Meanwhile, global shares rose on Wednesday ahead of the U.S. Federal Reserve's policy meeting, due mainly to signs of good demand for euro zone sovereign debt before a German bond sale, and some strong corporate earnings, according to Reuters.

Markets could take their cues from several planned public speeches by European Central Bank officials, which will be scrutinised for any signs it would consider more liquidity operations if the euro zone's problems worsened, it said.

At the regional markets, Japan’s Nikkei 225 rose 0.98% to 9,561.01, Taiwan’s Taiex added 0.86% to 7,563.18, and the Shanghai Composite Index gained 0.75% to 2,406.81 and Singapore’s Straits Times Index added 0.20% to 2,980.19.

Meanwhile, Hong Kong’s Hang Seng Index lost 0.15 % to 20,646.29 and South Korea’s Kospi shed 0.07% to 1,961.98.

Among the decliners on Bursa Malaysia, BAT fell 28 sen to RM55.12, KLK and TH PLANTATION []s lost 16 sen each to RM23.82 and RM2.65, CSL down 15 sen to RM1.48, UMS 14 sen to RM1.66, Yeo Hiap Seng 13 sen to RM2.88, Toyo Ink, Tanjung Offshore and MMC Corp down 12 sen each to RM1.36, 78 sen and RM2.62 respectively, while Quality Concrete lost 11 sen to RM1.24.

Utopia was the most actively traded counter with 186.1 million shares done. The stock added one sen to 9.5 sen.

Other actives included Ariantec, Ramunia, CSL, Metronic, Astral Supreme, HWGB and JCY.

Meanwhile, the gainers included Panasonic, UMWE, The Store, NSOP, SPB, Batu Kawan, Cepco, TDM and Scientex.



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KLCI edges down 0.1% at mid-day break

KUALA LUMPUR (April 25): The FBM KLCI edged down 0.1% at the mid-break on Wednesday in choppy trade, weighed by losses at key blue chips including Genting, Tenaga and Petronas-linked counters.

The benchmark index was down 0.81 of a point to 1,581.47 at the mid-day break.

Gainers trailed losers by 271 to 302, while 318 counters trade unchanged. Volume was 777.12 million shares valued at RM621.37 million.

The ringgit weakened 0.04% to 3.0638 versus the greenback, crude palm oil futures fell RM3 per tonne to RM3,460, crude oil gained 21 cents per barrel to US$103.76 and gold added 10 cents an ounce to US$1,642.38.

Meanwhile, Asian shares rose on Wednesday, buoyed by firm U.S. corporate earnings, signs of an improving U.S. housing market, and healthy demand for euro zone sovereign debt, while investor focus shifted to the Federal Reserve's policy meeting.

Markets will be looking for the Fed's economic assessment and clues to future monetary policy, including the probability of a third round of quantitative easing, when it ends its two-day meeting later on Wednesday.

At the regional markets, Japan’s Nikkei 225 gained 0.98% to 9,560.47, Hong Kong’s Hang Seng Index edged up 0.08% to 20,693.10, the Shanghai Composite Index rose 0.33% to 2,396.68, Taiwan’s Taiex gained 0.83% to 7,561.07, South Korea’s Kospi was up 0.23% to 1,967.99 and Singapore’s Straits Times Index was up 0.09% to 2,976.93.

Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients on Wedneday said the FBM KLCI declined 1.52 points to close at 1,582.28 on Tuesday.

“Its resistance areas of 1,582 and 1,609 will cap market gains, whilst the weaker support areas are located at 1,562 and 1,579.

“Despite the US markets’ better tone last night, we may be in for another day of heavy selling here,” he said.

On Bursa Malaysia, Petronas Dagangan was the top loser and fell 20 sen to RM19.08, Tradewinds PLANTATION []s fell 15 sen to RM5.51, UMS 13 sen to RM1.67, Yeoh Hiap Seng 12 sen to RM2.89, Aeon Credit 11 sen to RM9.87, MMC Corp 10 sen to RM2.64, TH Plantations nine sen to RM2.72, Tanjung Offshore 8.5 sen to 81.5 sen and Rapid fell eight sen to RM2.49.

Meanwhile, Genting and Tenaga fell four sen each to RM10.52 and RM6.49, KLK eight sen to RM23.90 and Petronas Gas fell six sen to RM16.88.

Utopia was the most actively traded counter with 108.85 million shares done. The stock added one sen to 9.5 sen.

Other actives included Ariantec, Ramunia, CSL, Metronic, JCY, Karambunai and Astral Supreme.

Gainers included Panasonic, UMW, TDM, KPJ shares and warrants, Pintaras, Ekovest, MPI and Carlsberg.



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KLCI edges up at mid-day break, crosses 1,590-mark

KUALA LUMPUR (APRIL 9): The FBM KLCI ticked upward at the mid-day break on Tuesday and moved above the 1,590-point mark, while investors at the regional markets took a cautious stance.

Asian shares struggled on Tuesday as investors remained cautious after Chinese trade data showed the world's second largest economy may be able to achieve a soft landing but global growth concerns lingered given the sharp slowdown in U.S. job creation, according to Reuters.

The FBM KLCI added 4.38 points to 1,595.66 at the mid-day break.

Losers edged gainers by 257 to 297, while 295 counters traded unchanged. Volume was 471.75 million shares valued at RM531.72 million.

At the regional markets, Japan’s Nikkei 225 fell 0.20% to 9.565.81, Hong Kong’s hang Seng Index lost 1.11% to 20,365.10, the Shanghai Composite Index wa down 0.96% to 2,263.78, and South Korea’s Kopsi shed 0.03% to 1,996.55, while Singapore’s Straits Times Index added 0.23% to 2,967.04 and Taiwan’s Taiex gained 0.18% to 7,614.54.

BIMB Securities Research in a note Tuesday said that as expected, sellers overwhelmed Wall Street following the weak job data last week.

The Dow Jones Industrial Average consequently declined 130 points to 12,929 as funds flowed back to the US Treasuries as depicted by a dip in the 10 year Treasury yield to 2.04% (-0.14%), it said.

The research house said investors would pay heed to some of the upcoming corporate earnings due this week.

With European markets closed for Easter, regional markets have had a rather traumatic Monday with almost all ending up in a sea of red taking cue the weak job data, it said.

“As for the local bourse, its performance was in synch with the regional decline as the FBMKLCI lost 7.6 points to 1,591 just above the support level of 1,590.

“We expect the market to be lacklustre today with the index to see further decline albeit marginally as China continues to be plagued by the fine art of balancing between growth and inflation. We see current developments as excellent windows of opportunities to accumulate and expect the index to hover between 1,585-90,” it said.

ON Bursa Malaysia, Tradewinds PLANTATION []s was the top gainer in the morning session and added 28 sen to RM5.73, Tradewinds up 23 sen to RM10.18, Bonia 17 sen to RM2.60, KPJ 15 sen to RM5.31, Batu Kawan and SMPC up 14 sen each to RM18.68 and RM2.50, Genting 12 sen to RM10.96, YHS 11 sen to RM2.75 and Carlsberg added 10 sen to RM10.84.

Tiger Synergy was the most actively traded counter with 24.8 million shares done. The stock was unchanged at 15.5 sen.

Other actives included KBES, Digi, Naim Indah Corp, CSL, KTB, Managed Pay and Asia Media.

Meanwhile, the decliners included Nestle, Aeon, Lafarge Malayan Cement, Panasonic, UAC, Parkson, Amtek, Shangri-La, LPI and Milux.



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KLCI closes higher in late push, buoyed by CIMB

KUALA LUMPUR (March 15): The FBM KLCI closed higher in late buying on Thursday, underpinned by gains in CIMB and Maybank amid volatile trading.

The KLCI rose 3.67 points or 0.2% to finish at 1,579.38. Turnover was 1.36 billion shares worth RM1.73 billion while the broader market was cautious, with 296 gainers versus 443 decliners while 367 stocks were unchanged.

Worries about the Chinese growth outlook limited gains in Asian markets. This saw the local equities paring gains during the day before recouping losses to finish higher. The KLCI reached an intraday high of 1,579.45at 9.26am before retreating to the day’s low of 1,574.59 at noon.

Among the key regional markets, Japan’s Nikkei 225 rose 0.72% to 10,123.28 and Hong Kong’s Hang Seng Index added 0.21% to 21,353.53.

South Korea’s Kospi slipped 0.06% to 2,043.76, Singapore’s Straits Times Index0.02% lower at 3,025.84 and Shanghai’s Composite Index 0.73% lower at 2,373.77.

Crude palm oil third-month futures rose RM24 to RM3.402, the highest since June 2011. US light crude oil added 32 cents to US$105.75 while Brent crude rose above US$125.

At Bursa Malaysia, CIMB rose 17 sen to RM7.57, pushing up the KLCI by 2.99 points while Maybank added six sen to RM8.67, nudging the index up by 1.06 points. RHB Capital rose eight sen to RM7.90.

YTL added seven sen to RM1.80, YTL Power four sen to RM1.81, Axiata three sen to RM5.15, Telekom two sen to RM5.15 and Maxis two sen also to RM5.96.

Aeon Credit added 38 sen to close at RM8.73, YHS 14 sen to RM2.60 while Top Glove’s strong earnings saw its share price climb 12 sen to RM4.92.

Among decliners, PETRONAS GAS BHD [] lost 38 sen to RM16.60 while NESTLE (M) BHD [] fell 30 sen to RM56.

Most active was Tiger Synergy Bhd which closed flat at 15 sen with some 104 million shares done.



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KLCI erases gains at midday, China weighs

KUALA LUMPUR (March 15): Malaysian equities pared earlier gains at lunch break on Thursday dragged down by China’s economic growth concerns.

PLANTATION [] stocks had earlier lifted the FBM KLCI by as much as 3.74 points or 0.2% but mild profit taking erased the gains.

At 12.30pm, the KLCI was just up 0.09 of a point to 1,575.80. Across the local bourse, about 662 million shares worth RM697 million changed hands. The broader market was cautious, with 368 decliners to 228 advancers while 343 stocks were unchanged.

Asian indices hit by less optimistic sentiments in China include Hong Kong’s Hang Seng which lost 0.11% to 21,284.7 while the Shanghai Composite retreated 0.12% to 2,388.26. Singapore’s Straits Times Index fell 0.14% to 3,022.02 but Japan’s Nikkei 225 managed to eke out a 0.92% gain to 10,142.81.

China’s outgoing premier Wen Jiabao said on Wednesday that measures to curb property speculation must be maintained to prevent a real estate bubble which will be detrimental to the country’s economy. Wen’s comments had reversed gains across China stock markets, resulting in major indices finishing in the red.

On Thursday, the Commerce Ministry announced that China’s foreign direct investment fell 0.9% to US$7.7 billion in February from a year earlier.

At Bursa Malaysia, plantation heavyweight SIME DARBY BHD [] rose seven sen to RM9.78 as crude palm oil futures climbed above RM3,400 a tonne. This followed updates from Intertek that Malaysian palm oil exports increased 37% to 697,804 tonnes in the first 15 days of March, according to wire reports.

However, Far East fell 38 sen to RM7.22, PPB 18 sen lower at RM16.80 and Batu Kawan 16 sen to RM18.52.

Top gainers Aeon Credit added 40 sen to RM8.75 while Yeo Hiap Seng was up 16 sen to RM2.62. F&N rose 12 sen to RM18.12.

Among the banks, RHB Cap added 10 sen to RM7.92 and CIMB eight sen to RM7.48.

Most active was Tiger Synergy Bhd which added one sen to 16 sen with some 62 million shares done .



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KLCI remains edgy, limited gains at mid-morning

KUALA LUMPUR (Jan 4): The FBM KLCI rose at mid-morning on Wednesday in line with its regional peers, but the gains were limited as investors remained cautious given the continuing concerns over the eurozone debt crisis.

Asian stocks and the euro firmed after upbeat U.S. and European economic data boosted global shares and commodities, according to Reuters.

The FBM KLCI added 5.38 points to 1,518.92 at 10am.

Gainers led losers by 339 to 125, while 230 counters traded unchanged. Volume was 521.62 million shares valued at RM327.52 million.

At the regional markets, Japan’s Nikkei 225 rose 1.32% to 8,566.95, Hong Kong’s Hang Seng Index edged up 0.15% to 18,904.86, the Shanghai Composite Index added 0.77% to 2,216.39, Taiwan’s Taiex was up 0.78% to 7,108.52 and Singapore’s Straits Times Index rose 0.79% to 2,706.66.

Meanwhile, South Korea’s Kospi shed 0.02% to 1,875.03.

RHB Research in its market update on Jan 4 said that 2012 starts with the overhanging concerns of 2H 2011, this could be another year of “more of the same”.

However, on a brighter note, it noted the possibility of two market rallies in the near term – “January effect” and “Chinese New Year rally”.

It said that while the January effect had been evident every year for the last 10 years (and had led to a positive annual return in seven of the 10 years), the historical data for the pre-Lunar New Year rally was less conclusive (but the post-festival returns have actually been negative in 7 of the last 10 years).

“Beyond January, we believe 2012 will be influenced by 2011 legacy issues.

“We thus continue to advocate a cautious stance, although we also recommend accumulating fundamentally-robust stocks on weakness for tactical plays with a longer-term view towards the recovery that will undoubtedly follow,” it said.

On Bursa Malaysia, BAT and KLK rose 44 sen each to RM49.88 and RM23.44, United PLANTATION []s 22 sen to RM19.40, Allianz 19 sen to RM4.95, YHS 16 sen to RM2.22, Batu Kawan 14 sen to RM17.64, Ajiya 12 sen to RM1.75, Jaya Tiasa 11 sen to RM7.01 while BHIC and DiGi added nine sen each to RM3.71 and RM3.90.

The actives included HWGB, Maxbiz, JCY, Envair, Karambunai and XDL, while decliners included Asdion, Tradewinds, Hibiscus, Yinson, Harrisons, Sime Darby, Kretam and Tanjung Offshore.



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KLCI extends gains for seventh day

KUALA LUMPUR (Dec 30): The FBM KLCI rose for the seventh day on Friday, and stayed above the 1,500-point level for the fourth day running, in line with the gains at most global markets.

US stocks rallied on Thursday, moving the S&P 500 back in positive territory for 2011 ahead of the last trading day of the year, on more positive signals on the U.S. economy, according to Reuters.

The FBM KLCI was up 5.42 points to 1,512.11 at mid-morning, lifted by select blue chips.

Gainers led losers by 216 to 139, while 264 counters traded unchanged. Volume was 233.73 million shares valued at RM156.04 million.

At the regional markets, Japan’s Nikkei 225 rose 0.39% to 8,431.49, Hong Kong’s Hang Seng Index added 0.42% to 18,474.82, the Shanghai Composite Index gained 0.63% to 2,187.25, Taiwan’s Taiex edged up 0.10% to 7,081.62 while Singapore’s Straits Times Index shed 0.21% to 2,667.09.

BIMB Securities Research in a note Dec 30 said it may be holiday mood for many but the equity markets are determined to end 2011 with a bang.

Encouraging signs of improved economic outlook from the US and a not too shabby Italian bond auction have placed investors on a steadier platform before entering into 2012, it said.

“For now, with 2012 just around the corner such positive news would be a welcomed sight and boost sentiments hence an all round gains by European bourses,” it said.

The research house said on Wall Street, the Dow Jones Industrial Average recorded a 135 point jump to almost 12,300 or an impressive 6% year-to-date improvement.

Meanwhile in Asia, the overall performance was rather mixed with Malaysia posting another positive session registering another 2.6 points gain to remain above the crucial 1,500 level, it said.

“We presume the FBMKLCI to maintain its uptrend with 1,515 as the immediate resistance.

“Though it falls short of our 1,530 closing target for 2011 we are still pleased,” it said.

On Bursa Malaysia, BAT was the top gainer at mid-morning and rose 34 sen to RM49.94; Petronas Gas was up 10 sen to RM15.30, Guan Chong up nine sen to RM2.10, Box-Pak eight sen to RM2.31, YHS and DiGi added seven sen each to RM1.92 and RM3.85, while KLK, Sime Darby and KPJ were up six sen each to RM22.74, RM9.06 and RM4.68.

Mulpha was the most actively traded counter with 22 million shares done. The stock added one sen to 39.5 sen.

Other actives included Utopia, TMS, LFE Corp, Scomi Marine, Sanichi and Scomi.

The decliners included Batu Kawan, Sunchirin, Hunza PROPERTIES [], GAB, Theta, KrisAssets, Nestle and Esso.



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Yeo Hiap Seng 3Q net profit doubles

KUALA LUMPUR: Yeo Hiap Seng Bhd’s (YHS) net profit has doubled to RM8.27 million for 3QFY11 ended Sept 30 from RM4.05 million a year earlier.

The beverage manufacturer’s revenue rose 27% to RM147.13 million from RM116.28 million. Earnings per share came in at 5.42 sen against 2.65 sen in the previous corresponding period.

The sharp jump in YHS’ earnings was mainly due to the one-off RM4.11 million gain from liquidation of a subsidiary during the quarter under review.

“The increase in sales is mainly due to more advertising and promotion activities undertaken during the Hari Raya festive period,” YHS said in notes accompanying its financials.

Its sales for Malaysia, Indonesia, and Singapore plus other countries grew year-on-year by 18%, 368% and 8% respectively during the quarter, YHS said.

For the nine-month period ended Sept 30, net profit surged by 363% to RM20.02 million from RM4.32 million a year earlier, while revenue rose by 12% to RM414.86 million from RM370.7 million.

“The improved profitability in the quarter and year-to-date was due to better sales, less bad debts write-off and gain on disposal of machinery,” YHS said.


For the nine-month period, sales from Malaysia accounted for 76.3%, Indonesia 6.3% and Singapore/other countries 17.4%.

“Yeo’s brand sales in Malaysia grew by 12%, Indonesia sales grew by 227% and Singapore/export sales grew by 18%,” YHS said of its year-to-date results.

It is noteworthy that over the past seven years, the earnings that have been achieved so far is YHS’ best cumulative nine months results, in terms of net profit.

YHS has a clean balance sheet that sits on a net cash pile of RM22.8 million with no borrowings.

Shares in YHS closed four sen lower to RM1.71 yesterday, giving it a market capitalisation of RM262.57 million. Its stock has gained 16.3% year-to-date and traded between a 52-week high of 2.04 sen and a low of 1.40 sen.


This article appeared in The Edge Financial Daily, November 4, 2011.

KL shares close higher

Shares of the following companies had unusual moves in Malaysia trading. Stock symbols are in parentheses and prices are as of the close in Kuala Lumpur.

The FTSE Bursa Malaysia KLCI Index rose 1 per cent to 1,477.51, snapping a three-day drop. The gauge slid 0.3 per cent this week. The market will be shut on Nov. 7 for a public holiday.

ARK Resources Bhd, a builder, surged 55 per cent to 52 sen, its steepest gain since June 2, after it said it has completed a restructuring and restored its finances.

Lingui Developments Bhd, a timber, plantations and property group, dropped 7.1 per cent to RM1.43, the most since May 25, 2010, after reporting a RM28.1 million first-quarter loss.

Malaysian Marine and Heavy Engineering Holdings Bhd, the rig-building arm of MISC Bhd, rose 2 per cent to RM6.09. The company signed a RM1.4 billion contract to install an offshore platform deck with bridges for ExxonMobil Exploration and Production Malaysia Inc, it said in a statement. MISC added 3.1 per cent to RM6.89.

Yeo Hiap Seng (Malaysia) Bhd, a beverage maker, jumped 4.7 per cent to RM1.79, its biggest increase since Aug. 15. Third-quarter profit doubled from a year earlier to RM8.27 million, it said in a statement.

Genting Bhd, a casino and plantations group, added 4.3 per cent to RM10.80, the highest close since Aug. 3. Indonesia has approved a development plan for the Ande-Ande Lumut oil field operated by unit of Genting, according to Energy and Mineral Resources Minister Jero Wacik.

Tomypak Holdings Bhd, a plastic packaging company, advanced 3.2 per cent to 98 sen, its highest close since July 27, after third-quarter profit rose to RM3.4 million, from RM3.03 million a year earlier. -- Bloomberg

Yeo Hiap Seng climbs on Q3 profit jump

Yeo Hiap Seng (Malaysia) Bhd rose the most in three weeks in Kuala Lumpur trading after the beverage maker said third-quarter profit doubled to RM8.27 million.

The stock climbed 2.9 percent to RM1.76 at 9:09 a.m. local time, set for its biggest gain since Oct. 11. -- Bloomberg

Stocks to watch: MMHE, Lingui, Yeo Hiap Seng, ARK

KUALA LUMPUR (Nov 4): Markets are expected to continue to stay cautious on Friday as they await a resolution to the Greece crisis.

The eurozone bailout hangs in the balance following Greece's decision to hold a referendum on the plan in December.

But the prospect that the Greek government might collapse, delaying the referendum, raised hopes that the bail out might go ahead after all, Reuters reported.

However, the uncertainty will continue to push investors to sidelines.

Among the stocks to watch on Friday are Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE), Lingui Developments Bhd, Yeo Hiap Seng (Malaysia) Bhd, ARK RESOURCES BHD [] and TOMYPAK HOLDINGS BHD [].

MMHE secured a RM1.4 billion contract to build an offshore platform deck and two inter-platform bridges. Its unit Malaysia Marine and Heavy Engineering Sdn Bhd had signed a contract with ExxonMobil Exploration and Production Malaysia Inc. which was part of the Tapis enhanced oil recovery project.

Lingui posted net loss of RM28.06 million in the first quarter ended Sept 30, 2011 versus net profit of RM39 million a year ago as it was adversely affected by losses in fair value of biological assets.

Its that revenue increased by 19.1% to RM435.01 million from RM365.05 million. Loss per share was 4.25 sen compared with earnings per share of 5.91 sen. Operating profit was RM19.46 million compared with RM9.59 million a year ago.

“The group recognised a loss from changes in fair value of biological assets of RM25.9 million as the softwood log prices soften at the end of financial quarter under review compared to immediate preceding financial quarter,” it said.

Yeo Hiap Seng’s earnings rose 104% to RM8.27 million in the third quarter ended Sept 30 from RM4.05 million a year, as it benefited from better sales, less bad debts write off and gain on disposal of machinery.

Its revenue increased by 26.5% to RM147.12 million from RM116.27 million as sales for Malaysia, Indonesia and Singapore including the export market grew by 18%, 368% and 8% respectively.

Tomypak Holdings Bhd's earnings rose 12.21% to RM3.40 million for the quarter ended Sept 30, 2011 from RM3.03 million a year ago, due to higher sales. Its revenue increased 25.8% to RM54.73 million from RM43.49 million. Earnings per share were 3.14 sen compared with 2.80 sen. The group announced dividends of 1.50 sen compared to 1.40 sen a year ago.

ARK Resources Bhd will be uplifted from the Practice Note 17 with effect from Friday after it had regularised its financial condition.

Bursa Malaysia Securities Bhd has deferred the decision to suspend and delist the securities of TRICUBES BHD [].

Yeo Hiap Seng 3Q earnings double to RM8.27m

KUALA LUMPUR (Nov 3): Yep Hiap Seng (Malaysia) Bhd’s earnings rose 104% to RM8.27 million in the third quarter ended Sept 30 from RM4.05 million a year, as it benefited from better sales, less bad debts write off and gain on disposal of machinery.

It said on Thursday revenue increased by 26.5% to RM147.12 million from RM116.27 million as sales for Malaysia, Indonesia and Singapore including the export market grew by 18%, 368% and 8% respectively.

“The increase in sales is mainly due to more advertising and promotion activities undertaken during the Hari Raya festive period,” it said.

Earnings per share were 5.42 sen compared with 2.65 sen a year ago.

For the nine-month period, its earnings surged 363% to RM20.02 million from RM4.31 million while revenue increased 11.9% to RM414.86 million from RM370.70 million.