RHB Research upgrades utilities sector to Overweight

KUAL A LUMPUR (April 12): RHB Research Institute Sdn Bhd has upgraded the Utilities sector to Overweight from Neutral and said it was turning more positive on Tenaga Naional Bhd given better visibility of its earnings outlook with the improved gas supply.

In a note April 12, the research house said that while imported LNG pricing remained an issue, it believed that the implementation of a dual pricing system wass more likely and therefore have an earnings neutral impact to Tenaga.

“As for YTL Power, the stock lacks catalysts while dividends are no longer attractive. However, sentiment may improve if the 1Bestarinet project helps to monetise its WiMAX network.

“Given our recent upgrade on TNB, we upgrade the sector to Overweight, from neutral,” said RHB Research.



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EPF sells 5m YTL Corp shares

KUALA LUMPUR (March 15): The Employees Provident Fund Board disposed on five million YTL CORPORATION BHD [] shares on March 12.

A filing with Bursa Malaysia showed the board’s shareholding was reduced to 750.12 million shares or 7.74% after the latest disposal.

Its share price closed at RM1.66 on that day.

Another filing showed the EPF disposed of 207,600 shares of YTL POWER INTERNATIONAL BHD [] on March 12.

The disposal reduced its shareholding to 675.54 million shares or 9.3%.



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Market Commentary

The FBM KLCI index gained 11.69 points or 0.75% on Wednesday. The Finance Index increased 0.53% to 14082.29 points, the Properties Index up 0.18% to 1039.21 points and the Plantation Index rose 0.18% to 8611.44 points. The market traded within a range of 7.30 points between an intra-day high of 1575.71 and a low of 1568.41 during the session.

Actively traded stocks include NICORP, CSL, YTL, TIGER, HWGB, EURO, AXIATA, SIME, ASUPREM and SILVER. Trading volume increased to 1273.33 mil shares worth RM1844.76 mil as compared to Tuesday’s 1163.12 mil shares worth RM1471.04 mil.

Leading Movers were CIMB (+14 sen to RM7.40), TENAGA (+15 sen to RM6.47), AXIATA (+6 sen to RM5.12), PETGAS (+48 sen to RM16.98) and PETCHEM (+8 sen to RM6.78). Lagging Movers were DIGI (-5 sen to RM3.95), YTLPOWR (-2 sen to RM1.77), HLBANK (-4 sen to RM12.06) and MMHE (-1 sen to RM5.35). Market breadth was positive with 444 gainers as compared to 334 losers. -- JF Apex Securities Bhd



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RHB Research maintains Market Perform on YTL Power, unch FV RM2

KUALA LUMPUR (March 13): RHB Research Institute is maintaining its Market Perform call on YTL Power with an unchanged sum-of-parts derived fair value of RM2.00 for now pending official confirmation that it had secured the government’s 1Bestarinet project.

It said on Tuesday, quoting The Edge Financial Daily, that the project (worth RM1.5 billion over five years but could be worth RM4.5 billion if extended to 15 years), is in the process of being implemented by YTL Communications Sdn Bhd (YTL Comms), a 60% owned subsidiary of YTL Power.

“Although no official announcement has been made, we are surprised to learn that YTL Comms has already rolled out the service to a number of schools in the Klang Valley, having starting since December 2011,” it said.

RHB Research said to recap, YTL Comms had appeared as the winner of the project, according to a posting on the Ministry of Education website but this was taken down very quickly a few hours later.

The project involves providing Internet access and a virtual learning platform to 9,924 schools across the country.

“This development is a surprise, but nonetheless positive for YTL Power as the 1Bestarinet project allows YTL Power to monetise its relatively new and somewhat under-utilised WiMAX network, which has about 300,000 subscribers only,” it said.



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Market Commentary

The FBM KLCI index gained 3.80 points or 0.24% on Thursday. The Finance Index increased 0.07% to 14026.81 points, the Properties Index up 0.36% to 1056.46 points and the Plantation Index rose 0.00% to 8652.12 points. The market traded within a range of 7.40 points between an intra-day high of 1576.23 and a low of 1568.83 during the session.

Actively traded stocks include NICORP, CSL, IFCAMSC, YTL, SIME, TIMECOM, SILVER, RA, DRBHCOM and WINSUN. Trading volume decreased to 1617.80 mil shares worth RM2024.63 mil as compared to Wednesday’s 1942.34 mil shares worth RM2693.55 mil.

Leading Movers were SIME (+24 sen to RM9.93), PETCHEM (+5 sen to RM6.75), BAT (+90 sen to RM53.10), DIGI (+2 sen to RM4.04) and AMMB (+4 sen to RM6.17). Lagging Movers were GENTING (-14 sen to RM10.46), YTL (-5 sen to RM1.70), TENAGA (-3 sen to RM6.25), YTLPOWR (-3 sen to RM1.83) and RHBCAP (-15 sen to RM7.80). Market breadth was negative with 309 gainers as compared to 506 losers. -- JF Apex Securities Bhd



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Market Commentary

The FBM KLCI index lost 2.31 points or 0.15% on Tuesday. The Finance Index increased 0.06% to 13920.97 points, the Properties Index up 0.15% to 1040.06 points and the Plantation Index rose 0.12% to 8622.6 points. The market traded within a range of 9.80 points between an intra-day high of 1562.42 and a low of 1552.62 during the session.

Actively traded stocks include IFCAMSC, CSL, IFCAMSC-WA, NICORP, TMS, SNTORIA, COMPUGT, WINSUN, GOCEAN and ZELAN. Trading volume increased to 1727.59 mil shares worth RM1588.57 mil as compared to Monday’s 1642.24 mil shares worth RM1633.98 mil.

Leading Movers were GENTING (+10 sen to RM10.54), YTL (+4 sen to RM1.58), HLBANK (+20 sen to RM11.90), PETGAS (+4 sen to RM16.56) and HLFG (+6 sen to RM11.82). Lagging Movers were PETCHEM (-10 sen to RM6.80), AXIATA (-5 sen to RM5.10), TENAGA (-5 sen to RM6.20), MAXIS (-9 sen to RM5.89) and YTLPOWR (-3 sen to RM1.85). Market breadth was negative with 309 gainers as compared to 511 losers. -- JF Apex Securities Bhd



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Sterling second-quarter performance by YTL Corp

PETALING JAYA: YTL Corp Bhd posted a 44.6% year-on-year jump in net profit to RM237.4mil for its second quarter ended Dec 31, 2011 compared with RM164.2mil a year earlier.

For the quarter under review, the well-diversified group's revenue increased 18.4% year-on-year to RM5.3bil.

Group managing director Tan Sri Francis Yeoh said the group continued to perform well due mainly to the “ongoing resilience of our multi-utility businesses in Malaysia, Britain and Singapore”.

“Our cement and multi-utility operations, which are the group's major contributors, continue to register sound performance,” he said in a statement.

For the six months ended Dec 31, 2011, YTL Corp recorded a 10.4% year-on-year jump in net profit to RM489.2mil while revenue increased 10.8% to RM9.87bil.

YTL Corp and its listed arms' financial year ends on June 30, 2012 (FY12).

Meanwhile, for the first half of FY12, YTL Power International Bhd's net profit grew 5.2% year-on-year to RM560mil while revenue rose 9.4% to RM7.7bil, due mainly to better performance of its merchant multi-utility businesses.

However, the division's YES mobile broadband operations registered a loss due mainly to the upfront implementation costs to build the 4G network for scale in order to cover the peninsula.

YTL Cement Bhd saw its net profit for the first half of FY12 grow by 8.8% year-on-year to RM167.9mil while revenue increased 12.2% to RM1.15bil due mainly to higher demand for cement in the construction industry and contributions from offshore subsidiaries.

YTL Cement is undergoing a de-listing process; as at Feb 21, the acceptances of the voluntary share exchange offer into YTL Corp's shares had resulted in YTL Corp, YTL Industries Bhd and persons acting in concert holding more than 90% of YTL Cement's shares.

The trading of YTL Cement's shares and irredeemable convertible unsecured loan stocks will be suspended from 9am on Feb 29.

On YTL Power, analysts said the company's results for the first half of FY12 were within expectations.

CIMB Research noted that YTL Power was keeping cash for mergers and acquisitions, for which it has a good track record.

“We believe YTL Power would eventually win the national 1Bestarinet smart school project. The project is worth RM300mil per annum over 10 years,” said CIMB Research.

Meanwhile, HwangDBS Vickers Research pointed out that YTL Power's dividend per share was lower quarter-on-quarter.

The research house said this was possibly because the company wanted to retain cash to fund increasing capital expenditure for YES, and potential investments in new power plants in Malaysia and overseas regulated assets.

YTL Power had declared a 1.875% or 0.9375 sen per share second interim dividend for FY12.



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Tenaga, Sime, 1Malaysia Devt, CI Holdings bid for Prai power project

KUALA LUMPUR (Feb 24): TENAGA NASIONAL BHD [], Sime Darby Energy Bhd, 1Malaysia Development Bhd and CI Holdings Bhd are among the 33 companies which had submitted their pre-qualification statement for the Prai combined cycle gas turbine power project.

According to the Energy Commission, it had on Feb 29 received pre-qualification statements from 33 out of 38 participants who purchased the RFQ document. The 33 participants comprised of the 18 consortia and sole bidders.

The EC said all submissions would have to go through an evaluation process and the short-listed bidders would be announced after March 19.

1Malaysia Development Bhd and Hyundai Engineering & CONSTRUCTION [] Co Ltd
CI Holdings Berhad, Teknologi Tenaga Perlis Consortium and Daelim Industrial Co. Ltd
Drayclass (M) Sdn Bhd and Ssangyong Engineering & Construction Co Ltd
First Northeast Electric Power Engineering Co ( NEPC ), Ranhill Power Sdn Bhd, RAMUNIA HOLDINGS BHD [] and Maser (M) Sdn Bhd
International Company for Water and Power Projects (ACWA)
Jimah Energy Ventures Sdn Bhd
KNM Process System Sdn Bhd and Lanco Infratech Limited
Majulia Sdn Bhd and Country Earth Sdn Bhd
Malakoff Corporation Berhad, Petronas Power Sdn Bhd and Mitsubishi Corporation
Mastika Lagenda Sdn Bhd
Mitsui & Co. Limited and Amcorp Power Sdn Bhd
Mudajaya Corporation Berhad and Sinohydro Corporation Limited
N.U.R Power Sdn Bhd and Samsung C & T Corporation
Pendekar Power Sdn Bhd
Sime Darby Energy Sdn Bhd
SRC International Sdn Bhd
Tenaga Nasional Berhad
YTL Power International Berhad and Marubeni Corporation



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KLCI range bound, Genting weighs

KUALA LUMPUR (Feb 24): The broader market was cautious in the morning session on Friday, with investors taking profit on recent gains ahead of the weekend despite the positive key regional markets.

With the eurozone not yet out of the debt crisis, another issue was the high oil prices which would put the brake on the flagging economies. US light crude oil was up 58 cents to US$108.41 while Brent crude rose 45 cents to US$124.07

At 12.30pm, the FBM KLCI was down 1.99 points to 1,554.67. Turnover was 745.19 million shares valued at RM717.18 million. There were 289 gainers, 383 losers and 326 counters unchanged.

Among the regional markets, Japan’s Nikkei 225 rose 0.23% to 9,617.50, Shanghai’s Composite Index added 0.32% to 2,417.15, Taiwan’s Taiex 0.09% to 7,944,28, South Korea’s Kospi 0.35% to 2,014.83 and Singapore’s STI 0.08% to 2,970.65. However, Hong Kong’s Hang Seng Index fell 0.10% to 21,359.90.

At Bursa Malaysia, GENTING BHD [] was the biggest drag on the KLCI, falling 26 sen to RM10.46 and pushing the KLCI down 2.27 points.

CIMB fell 10 sen to RM7.06, pushing the index down 1.76 points. AMMB fell seven sen to RM6, Sime three sen to RM9.600 and YTL Power two sen to RM1.88.

MSC was the top loser, down 42 sen to RM4.16 while recent gainers Oriental fell 27 sen to Rm6.07 and Nestle 14 sen to RM55.66.

Tenaga rose five sen to RM6.24, PPB 20 sen to RM17.14, Maybank and Axiata two sen each to RM8.72 and RM5.11.

China Stationery, which was listed on Friday, rose 13 sen to RM1.08 and it was the most active with 103.23 million shares done.

Harvest rose 15.5 sen to 97 sen and the warrants 14.5 sen to 74 sen.



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Market Commentary

The FBM KLCI index lost 3.86 points or 0.25% on Thursday. The Finance Index fell 0.59% to 13867.67 points, the Properties Index dropped 0.68% to 1037.17 points and the Plantation Index down 0.72% to 8603.91 points. The market traded within a range of 4.84 points between an intra-day high of 1561.50 and a low of 1556.66 during the session.

Actively traded stocks include NICORP, IFCAMSC, TIGER, SAAG, PDZ, DRBHCOM-CG, DRBHCOM-CF, GOCEAN, SNTORIA and TMS. Trading volume decreased to 1951.41 mil shares worth RM2109.15 mil as compared to Wednesday’s 2230.80 mil shares worth RM1937.12 mil.

Leading Movers were AXIATA (+8 sen to RM5.09), TENAGA (+8 sen to RM6.19), TM (+4 sen to RM5.07) and YTLPOWR (+1 sen to RM1.90). Lagging Movers were CIMB (-8 sen to RM7.16), GENTING (-12 sen to RM10.72), AIRASIA (-7 sen to RM3.58), YTL (-3 sen to RM1.42) and PPB (-20 sen to RM16.94). Market breadth was negative with 217 gainers as compared to 689 losers. -- JF Apex Securities Bhd



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CIMB Research has technical buy on YTL Power at RM1.84

KUALA LUMPUR (Feb 9): CIMB Equities Research has a technical buy on YTL Power International at RM1.84 at which it is trading at a FY13 price-to-earnings of 10.8 times and price-to-book value of 1.5 times.

It said on Thursday that the stock appears to have formed an ascending triangle, which is a bullish pattern.

“We believe that prices are ripe to breakout of this consolidation pattern soon,” it said.

CIMB Equities Research said traders should accumulate on weakness with a very tight stop placed below RM1.81.

“This breakout is likely to take prices back up towards its 38% Fibonacci retracement level of RM1.98. We would not discount that it could even reach RM2.09, its 50% Fibonacci Retracement if the RM1.98 level is breached,” it said.



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Utilities: Revealing the bidders for new plant-ups

Utilities sector
Maintain neutral: The Energy Commission has unveiled a list of 47 prospective bidders, comprising local and foreign firms, for the development of new combined-cycle power plants in the country. This follows the commission’s recent issuance of “notice for expression of interest” for a total plant-up of 4,500MW of new generation capacity in Peninsular Malaysia.

Among the local parties bidding for the combined-cycle power projects are Tenaga Nasional Bhd (TNB), Tanjong Energy Holdings Sdn Bhd, YTL Power International Bhd (YTLP), Petroliam Nasional Bhd (Petronas), Sime Darby Energy Sdn Bhd, Malakoff Corp Bhd and Ranhill Power Sdn Bhd. The foreign parties include Samsung C&T Corp, Marubeni Corp, Siemens Project Ventures, Mitsubishi Corp, Mitsui & Co, Daewoo International Corp and Korea Electric Power Corp. In line with the government’s policy, foreign participation in a consortium is capped at 49%.

The next stage is for a pre-qualification of interested parties — with the pre-q document to be issued by early February this year. We are positive on the level of transparency attempted by the regulator to provide a level playing field and award contracts to the least-cost unit generator. From a recent meeting with the regulator, we understand that the first phase of plant-up (from a total of 4,500MW of generation capacity) will include two times 700MW gas-fired power plants slated for commercial operation by 2016/17. Importantly, the two times 700MW power plant to be awarded by the Energy Commission will be located at a brownfield site already identified by the regulators. We believe the potential sites are Prai in Penang, Pasir Gudang in Johor and Klang, Selangor. All these sites are currently owned by TNB with existing gas-fired power plants in operation (YTLP currently operates in Pasir Gudang). We also understand that while TNB is an interested bidder in the 4,500MW plant-up exercise, in the event it does not emerge as the least-cost producer, a land lease agreement will be extended to the winner of the new power plant.



All in, we see opportunities for the likes of YTLP, TNB, Tanjong plc (unlisted) and Malakoff (51%-owned by MMC Corp Bhd) to increase their existing generation capacity. Due to the nature of the competitive bidding currently undertaken by the Energy Commission, project internal rates of return will likely be at a level similar to overseas projects (low teens) and therefore, the incremental impact on net asset values will be far less than past projects, albeit being positive.

Maintain “neutral” on the sector. The sector as a whole trades at 16.1 times CY12 earnings — above market valuations. This, we believe, fairly reflects the sector’s liquidity and large market capitalisation representation. For yield exposure, we like YTLP. TNB (“reduce”, target price: RM6.12) may see choppy days ahead (until after the general election) in the absence of outright fuel volume and price commitment from the regulator. — Affin IB Research, Jan 30


This article appeared in The Edge Financial Daily, January 31, 2012.



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Market Commentary

The FBM KLCI index gained 4.10 points or 0.27% on Thursday. The Finance Index increased 0.54% to 13496.61 points, the Properties Index up 0.40% to 1025.65 points and the Plantation Index rose 0.67% to 8727.21 points. The market traded within a range of 4.00 points between an intra-day high of 1523.86 and a low of 1519.86 during the session.

Actively traded stocks include DBE, KARYON-WA, HIBISCS-WA, JCY-CD, DRBHCOM-CI, DBE-WA, JOTECH, WIJAYA-WA, JCY and DRBHCOM-CF. Trading volume increased to 1957.46 mil shares worth RM1692.47 mil as compared to Wednesday’s 1343.61 mil shares worth RM1542.22 mil.

Leading Movers were PBBANK (+8 sen to RM13.40), GENTING (+10 sen to RM11.00), HLBANK (+30 sen to RM11.60), PETCHEM (+7 sen to RM6.67) and TENAGA (+4 sen to RM6.14). Lagging Movers were CIMB (-3 sen to RM6.96), YTL (-1 sen to RM1.51), SIME (-1 sen to RM9.08), YTLPOWR (-1 sen to RM1.84) and ARMADA (-3 sen to RM4.02). Market breadth was positive with 524 gainers as compared to 233 losers. -- JF Apex Securities Bhd



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Market Commentary

The FBM KLCI index gained 5.85 points or 0.39% on Friday. The Finance Index increased 0.44% to 13473.27 points, the Properties Index up 0.61% to 1012.48 points and the Plantation Index rose 0.95% to 8586.91 points. The market traded within a range of 6.07 points between an intra-day high of 1522.98 and a low of 1516.91 during the session.

Actively traded stocks include DBE, TMS-WA, DBE-WA, COMPUGT, DVM, TMS, FLONIC, TIGER, HIBISCS-WA and UTOPIA. Trading volume decreased to 1650.95 mil shares worth RM1489.41 mil as compared to Thursday’s 1936.36 mil shares worth RM1618.72 mil.

Leading Movers were GENTING (+16 sen to RM10.98), KLK (+70 sen to RM25.48), MAYBANK (+6 sen to RM8.26), DIGI (+5 sen to RM3.93) and UMW (+20 sen to RM7.10). Lagging Movers were SIME (-2 sen to RM9.08), GENM (-2 sen to RM3.85), PETGAS (-6 sen to RM15.24), BAT (-30 sen to RM49.50) and YTLPOWR (-1 sen to RM1.85). Market breadth was positive with 512 gainers as compared to 249 losers. -- JF Apex Securities Bhd



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OSK Retail Research has technical buy on YTL Power

KUALA LUMPUR (Jan 18): OSK Retail Research said YTL Power International has been consolidating very well on the strong rebound recorded on the week of Oct 11, 2011.

The research house said it seems like the consolidation phase could create a new base for the stock. “Traders can accumulate the shares during the consolidation phase at prices ranging from the RM1.74 level to the RM1.93 level.

“As its share price has already retraced by about 40% from the RM2.76 peak seen in November 2010 to a low RM1.63 in October last year, a break above the consolidation zone may result in strong upward momentum ahead,” it said.



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Market Commentary

The FBM KLCI index lost 9.32 points or 0.62% on Wednesday. The Finance Index fell 0.92% to 13337.72 points, the Properties Index dropped 1.43% to 990.8 points and the Plantation Index rose 0.90% to 8292.81 points. The market traded within a range of 23.05 points between an intra-day high of 1525.14 and a low of 1502.09 during the session.

Actively traded stocks include HWGB-WB, HWGB, JCY-CD, HIBISCS-WA, ASUPREM, ASUPREM-WA, MAXBIZ, NEXTNAT, MAS-CD and JCY. Trading volume increased to 1658.84 mil shares worth RM1527.52 mil as compared to Tuesday’s 1604.56 mil shares worth RM1406.53 mil.

Leading Movers were KLK (+50 sen to RM23.50), TENAGA (+2 sen to RM5.97), YTLPOWR (+2 sen to RM1.85), BAT (+36 sen to RM49.80) and PETCHEM (+1 sen to RM6.20). Lagging Movers were CIMB (-14 sen to RM7.10), AXIATA (-11 sen to RM4.89), MAYBANK (-7 sen to RM8.27), GENTING (-10 sen to RM11.14) and SIME (-5 sen to RM9.07). Market breadth was negative with 387 gainers as compared to 404 losers. -- JF Apex Securities Bhd



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KL shares close lower

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 fell 0.6 per cent to 1,504.22, its second day of declines.

Plantation stocks: Kuala Lumpur Kepong Bhd gained 2.2 per cent to RM23.50, a record close. IJM Plantations Bhd advanced 3.9 per cent to RM2.96, its highest close since April 29. Kulim Malaysia Bhd climbed 2.3 per cent to RM4.42, a record.

The March-delivery palm oil contract advanced 1.6 per cent to RM3,225 per metric ton on the Malaysia Derivatives Exchange yesterday, the highest close since Nov. 18. It traded at RM3,220 at 5:08 p.m. today.

Property stocks: Mah Sing Group Bhd lost 7.1 per cent to RM1.95, the most since Sept. 13. UEM Land Holdings Bhd slid 6.3 per cent to RM2.23, its steepest decline since Sept. 26.

Malaysia’s property industry was downgraded to “trading buy” from “overweight” by CIMB Group Holdings Bhd, which cited concerns economic growth will slow this year. UEM Land was cut to “neutral” and Mah Sing was downgraded to “trading buy,” CIMB analyst Terence Wong wrote in a report.

YTL Power International Bhd, a power producer, added 1.1 per cent to RM1.85, its highest close since Dec. 8. UBS AG upgraded the stock to “neutral” from “sell” following a 29 per cent drop in its share price since November 2010, Nicole Goh, an analyst at UBS, wrote in a report. She also raised the stock’s price estimate to RM1.90 from RM1.75. -- Bloomberg




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YTL Power climbs on UBS upgrade

YTL Power International Bhd, a Malaysian power producer, rose to a one-month high in Kuala Lumpur trading after the stock was upgraded to “neutral” at UBS AG.

Its shares climbed 1.1 percent to RM1.85 at 9:20 a.m local time, set for their highest close since Dec. 8.

Analyst Nicole Goh upgraded the stock with a RM1.90 price target following a 29 percent drop in its share price last year, UBS said in a report today. -- Bloomberg



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Market Commentary

The FBM KLCI index lost 17.19 points or 1.12% on Tuesday. The Finance Index fell 1.76% to 13461.23 points, the Properties Index up 0.55% to 1005.22 points and the Plantation Index rose 0.68% to 8218.44 points. The market traded within a range of 11.63 points between an intra-day high of 1523.71 and a low of 1512.08 during the session.

Actively traded stocks include HIBISCS-WA, MAS-CD, MAXBIZ, XDL, JCY-CD, HIBISCS, MAS-CC, SANICHI, MAS-CE and DBE. Trading volume increased to 1604.56 mil shares worth RM1406.53 mil as compared to Friday’s 1329.42 mil shares worth RM1527.91 mil.

Leading Movers were GENTING (+24 sen to RM11.24), TENAGA (+5 sen to RM5.95), KLK (+30 sen to RM23.00), YTLPOWR (+5 sen to RM1.83) and GENM (+4 sen to RM3.87). Lagging Movers were MAYBANK (-24 sen to RM8.34), CIMB (-20 sen to RM7.24), AXIATA (-14 sen to RM5.00), PBBANK (-22 sen to RM13.16) and TM (-16 sen to RM4.80). Market breadth was positive with 446 gainers as compared to 325 losers. -- JF Apex Securities Bhd



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Market Commentary

The FBM KLCI index gained 24.04 points or 1.60% on Friday. The Finance Index increased 2.08% to 13702.75 points, the Properties Index up 0.18% to 999.71 points and the Plantation Index rose 0.92% to 8162.7 points. The market traded within a range of 22.13 points between an intra-day high of 1530.73 and a low of 1508.60 during the session.

Actively traded stocks include KULIM-CB, UTOPIA, MULPHA, KFC-CB, WIJAYA-WA, COASTAL-CA, MAHSING-CB, MAHSING-CE, SANICHI and SYF-WA. Trading volume decreased to 1329.42 mil shares worth RM1527.91 mil as compared to Thursday’s 1588.84 mil shares worth RM1163.31 mil.

Leading Movers were CIMB (+28 sen to RM7.44), MAYBANK (+26 sen to RM8.58), SIME (+20 sen to RM9.20), PBBANK (+20 sen to RM13.38) and DIGI (+10 sen to RM3.88). Lagging Movers were GENM (-1 sen to RM3.83), YTLPOWR (-1 sen to RM1.78), MMHE (-6 sen to RM5.66) and ARMADA (-1 sen to RM4.10). Market breadth was positive with 468 gainers as compared to 327 losers. -- JF Apex Securities Bhd



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