#Stocks To Watch* Battered stocks, Public Bank, plantations, Digi and SP Setia

KUALA LUMPUR (Feb 6): If investors could ignore the current political risk in Malaysia, stocks to watch on Thursday (Feb 7) may include battered index-linked big cap stocks, Public Bank, Digi, plantations and SP Setia.

Malaysia has to hold its 13th general election by end-April 2013. And for this reason, the stock market has experienced three pre-election scares since late January – including the one today.

Marred by election risk, the FBM KLCI was hit by another round of sell-off on index-linked stocks by funds. It fell as much as 1.4% at mid-afternoon despite gains across regional markets. Analysts said investors also cleared their positions ahead the long weekend-Chinese New Year break (Feb 9-12).

At 5pm today, the benchmark dived 19.21 points or 1.19%, to close at 1,614.14.

Beaten down blue chips with large foreign holdings such as KLK, BAT, Nestle, HLFG, HLB, Digi, PPB, GAB and Axiata may regain some composure if election fear fades off. The bashing may cause value of quality stocks to emerge and bargain-hunting may help boost prices of some stocks.

However, with Reuters reminding the market of political risk in Malaysia through its report today, these stocks and other index linked stocks may sink further.

Prime Minister Datuk Seri Najib Razak’s ruling BN coalition is expected to win a tight race but the opposition is well placed to undermine Najib's standing, Reuters said in its political risk report.

An opinion poll released in January by a respected university put the coalition ahead of the opposition by 5 percentage points, with 21% of those surveyed still undecided.

If the market behaves in a normal manner, Public Bank Bhd – one of the few quality stocks that rose slightly today -- may lure some trading interests due to improved results.

The banking group reported a 9% year-on-year rise in its fourth quarter net profit. It said net profit came to RM992.47 million in the quarter ended December 31, 2012, against RM913.39 million a year earlier while revenue also grew by 9% to RM3.63 billion from RM3.32 billion.

"The improved earnings was mainly due to higher net interest income and lower loan impairment charges resulting from strong loans and deposits growth and stable asset quality, higher net fee and commission income partially offset by higher other operating expenses," Public Bank said.

Public Bank's full-year net profit rose 5% to RM3.87 billion from RM3.68 billion a year earlier and revenue was up 10% to RM14.06 billion from RM12.76 billion.

The group expects to sustain its strong market position within the retail-loan segment due to growth in consumer credit and small- and medium-sized enterprises loans. It sees opportunities in residential property loans due to government initiative to increase home ownership.

On the back of a high inventory, plantations counters may wonder whether they should dance with the launch the long-awaited biodiesel 10% blend (B10) tomorrow, a move expected to slash palm oil inventory by one million tonnes.

The launch will see the use of B10 in the vehicles of the Ministry of Plantation, Industries and Commodities. Eventually, it is expected to be used by commercial vehicles.

Local palm oil stock levels hit historical high at 2.63 million tonnes at the end of December 2012.

The implementation of the B10 is expected to boost crude palm oil prices, currently at about RM2,400 per tonne.

Digi.com Bhd, whose share plunged 26 sen to RM4.66 today, may continue to fall if investors are not happy with its results.

The company posted a net profit of RM245.52 million for its fourth quarter ended Dec 31, 2012, down 37.72% from RM394.23 million a year before on the back of higher depreciation and amortisation charges.

Digi announced a 5.16% hike in revenue for the same quarter to RM1.63 billion compared to RM1.55 billion in the corresponding period the prior year.

“4QFY12 service revenue was sustained by strong data performance in the quarter whilst voice revenues were slightly lower than previous quarter. The slight reduction in voice revenues in 4QFY12 was anticipated; mainly driven by continuous data shift and competition,” said Digi.

For the full FY12, Digi reported a 3.88% drop in net profit to RM1.21 billion from the previous year on the back of a 6.66% surge in revenues to RM6.36 billion.

But Digi declared a fourth interim dividend of net 2.5 sen, bringing total dividends for FY12 to 26.3 sen.

On its outlook Digi said: “We believe industry revenue growth still will be around 5% and that the group can deliver higher growth in the range of 5% to 7%”.

SP Setia Bhd, whose share price also took a beating today, is proposing a mixed-development project on 194.65 acres of land in Gombak, with estimated gross development value (GDV) of RM1.24 billion.

The giant property group said it has proposed a joint venture between its subsidiary Rockbay Streams Sdn Bhd – the project’s developer – and land-owner Cash Band Bhd.

The development, to take six years, will comprise residential and commercial properties on three parcels of leasehold lands in Gombak. Under the proposal, Rockbay Streams will pay Cash Band at least RM200 million.

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.
Loading...
  • Vietnam says all will lose in any South China Sea war
    Vietnam says all will lose in any South China Sea war AFP News - 7 minutes ago

    Vietnamese President Tran Dai Quang warned on Tuesday there would be no winners in any armed conflict sparked by territorial disputes in the South China Sea. The Vietnamese leader did not mention any country but there is growing unease over China's … More »

  • EU to hand Apple hefty Irish tax bill - sources
    EU to hand Apple hefty Irish tax bill - sources Reuters - 9 minutes ago

    DUBLIN/BRUSSELS (Reuters) - The European Commission will rule against Ireland's tax dealings with Apple (AAPL.O) on Tuesday, sources familiar with the decision told Reuters, one of whom said Dublin would be told to recoup over 1 billion euros in … More »

  • Transatlantic trade talks should be halted - French trade minister
    Transatlantic trade talks should be halted - French trade minister Reuters - 10 minutes ago

    The current round of Transatlantic trade talks should be brought to a halt and a new set started, French Trade Minister Matthias Fekl said on Tuesday, adding he will suggest that to fellow ministers at the end of September. German Economy Minister … More »

  • Oil prices rise as dollar comes off 2-week high
    Oil prices rise as dollar comes off 2-week high Reuters - 16 minutes ago

    Oil futures edged up on Tuesday as the U.S. dollar backed off a two-week high hit the day before, although doubts that crude producers would agree next month to an output freeze continued to drag on prices. The U.S. dollar has retreated from … More »

  • Gold slips on firmer dollar; seen range-bound
    Gold slips on firmer dollar; seen range-bound Reuters - 19 minutes ago

    "Gold remains range-bound within a descending triangle over the past month, with price action likely to remain fairly stable while inside this," Alex Thorndike, senior precious metals dealer with MKS PAMP Group, said in a note. Spot gold slipped … More »

  • U.S. trade spokesman says U.S.-EU TTIP talks making progress Reuters - 27 minutes ago

    Talks on a free trade deal being negotiated by the United States and the European Union are making progress, a spokesman for the U.S. trade chief told Der Spiegel, contradicting the German economy minister, who said the discussions had failed. The … More »

  • Hanjin Shipping Creditors Reject Revamp Plans as Insufficient Bloomberg - 28 minutes ago

    The restructuring plans fall short of requirements by creditors for them to help Hanjin Shipping, its main creditor Korea Development Bank said in a statement Tuesday. The company may still need 1 trillion won ($893 billion) to 1.3 trillion won in … More »

  • Oil prices rise as dollar comes off two-week high
    Oil prices rise as dollar comes off two-week high Reuters - 31 minutes ago

    Oil futures edged up on Tuesday as the U.S. dollar backed off a two-week high hit the day before, although doubts that crude producers would agree next month to an output freeze continued to drag on prices. The U.S. dollar has retreated from … More »

  • Livestream of Kim Dotcom extradition hearing a first for New Zealand Reuters - 48 minutes ago

    A New Zealand judge gave permission on Tuesday for the hearing of German tech entrepreneur Kim Dotcom's appeal against his extradition to be streamed on YouTube, making it the country's first court case to be broadcast on the Internet. The six-week … More »

  • KKR’s Most Senior China Executives Exit as Firm Plans Fund (1) Bloomberg - 52 minutes ago

    David Liu, head of China and co-head of Asia private equity, and Julian Wolhardt, a partner in the firm, are leaving at the end of this year to form a China-focused investment firm, the company said in a release Tuesday. Ming Lu, previously co-head … More »

  • Petrofac names former BG executive as CFO Reuters - 52 minutes ago

    (Reuters) - British oilfield services company Petrofac Ltd (PFC.L) on Tuesday named former BG Group executive Alastair Cochran as its finance head. Alastair Cochran, who oversaw BG's integration with oil ... … More »

  • Asia stocks bounce, investors no clearer on Fed
    Asia stocks bounce, investors no clearer on Fed Reuters - 55 minutes ago

    Asian shares bounced modestly on Tuesday as doubts the Federal Reserve would hike interest rates next month restrained the dollar, while investors continued to count on more policy stimulus elsewhere in the world. MSCI's broadest index of … More »

  • Yuan Bears Emerge From Hibernation as Fed Imperils G-20 Calm (3) Bloomberg - 56 minutes ago

    Derivative markets are pointing to renewed bets on yuan depreciation, with a three-month measure of expected price swings poised for the biggest monthly increase since January. The increased pessimism comes after a period of calm that sent the … More »

  • Bunzl sees no material Brexit impact, first-half profit beats consensus Reuters - 57 minutes ago

    Bunzl said it was difficult to know the probable impact of Brexit as the terms of Britain's exit from the bloc were unknown, but added that it did not expect any material impact as 85 percent of its business was currently based outside the UK. … More »

  • Iowa at center of debate over 'shadow insurance' deals
    Iowa at center of debate over 'shadow insurance' deals Associated Press - 1 hour 6 minutes ago

    For cash-strapped life insurance companies, the deal sounds almost too good to be true: A state law allows them to create complex financial instruments to transfer liabilities to new subsidiaries, instantly ... … More »

  • Hanjin Shipping Trading Halted After Plunge to Six-Year Low (1) Bloomberg - 1 hour 8 minutes ago

    The creditors made the decision after meeting Tuesday morning, Yonhap said, citing unidentified creditors and the financial regulator. Hanjin Shipping, South Korea’s largest container line, and Korea Development Bank, its main lender, declined to … More »

  • SE Asia Stocks-Sluggish as investors continue to digest Fed comments Reuters - 1 hour 34 minutes ago

    By Geo Tharappel Aug 30 (Reuters) - Southeast Asian stock markets were flat to lower in lacklustre trading on Tuesday, with the Philippines leading the losses, as investors continued to digest U.S. Federal ... … More »

  • Dollar extends gains in Asia, US jobs data in focus AFP - 1 hour 48 minutes ago

    The dollar extended its gains Tuesday as investors bet on the Federal Reserve lifting interest rates before the end of the year. Traders have been shifting back into the greenback since Fed boss Janet ... … More »

  • Glencore suspends coal output at Australian mine after worker dies
    Glencore suspends coal output at Australian mine after worker dies Reuters - 1 hour 53 minutes ago

    MELBOURNE (Reuters) - Glencore Plc (GLEN.L), the world's biggest thermal coal exporter, said on Tuesday a 55-year-old contract worker had died at its Newlands coal mine in Australia and it had suspended ... … More »

  • Japan top government spokesman Suga signals readiness to stem yen gains
    Japan top government spokesman Suga signals readiness to stem yen gains Reuters - 2 hours 14 minutes ago

    Japanese Chief Cabinet Secretary Yoshihide Suga said on Tuesday the government is watching market moves carefully and is ready to respond "appropriately", when asked whether Tokyo could intervene in the currency market to stem excessive yen rises. … More »

  • Shenzhen-Hong Kong Link Expected to Start in November, CSRC Says Bloomberg - 2 hours 14 minutes ago

    Technical preparations for the link will take place from August to November, with the program scheduled to begin that month, according to a presentation slide at a China Securities Regulatory Commission press briefing in Beijing. Hong Kong’s … More »

  • Oil edges back in Asia after sharp losses AFP News - 2 hours 23 minutes ago

    Oil prices edged up in Asia on Tuesday, a day after retreating on a stronger dollar, but worries about a global supply glut are keeping gains in check ahead of a key producers' meeting next month. Both main contracts tumbled Monday after Federal … More »

  • Malaysian industry players weigh in on the GrabGas controversy
    Malaysian industry players weigh in on the GrabGas controversy e27 - 2 hours 27 minutes ago

    We reached out to Malaysian startup key players, Curry Khoo, TC Wu and Victor Chua to offer their two cents on the recent GrabGas controversy On Aug 25, a former CTO named Julian Ee blogged about how he got screwed over by a Malaysian startup that … More »

  • Malaysia's closing tin prices for Aug 30 Reuters - 3 hours ago

    KUALA LUMPUR, Aug 30 (Reuters) - Following is a table of Kuala Lumpur tin market prices provided by a Malaysian trader. (Prices in $/tonne, and volumes in tonnes unless stated) Date KL Premium/ Spot Bid ... … More »

  • Pimco to Hire 20 People to Target $17.4 Trillion Asian Wealth Bloomberg - 3 hours ago

    The $1.5 trillion money manager is in the process of hiring more than 20 people in marketing, operations, legal and compliance teams in the next two years to help cover major retail banks in Hong Kong and Singapore. It also intends to target newer … More »

 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.125+0.001+0.81%
    N21.SI
    0.235-0.005-2.08%
    5ME.SI
    0.3550.0000.00%
    E5H.SI
    0.32+0.01+3.23%
    5OT.SI
    0.7350.0000.00%
    G13.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.58+0.15+34.88%
    BJZ.SI
    0.525+0.055+11.70%
    BQD.SI
    0.475+0.040+9.20%
    IX2.SI
    0.184+0.013+7.60%
    R14.SI
    0.139+0.006+4.51%
    BRR.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.11-0.04-26.67%
    5TI.SI
    0.162-0.026-13.83%
    AWS.SI
    0.20-0.03-13.04%
    AWI.SI
    0.176-0.024-12.00%
    A04.SI
    0.155-0.020-11.43%
    5WD.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3622+0.003+0.22%
    USDSGD=X
    1.5216+0.001+0.07%
    EURSGD=X
    1.7807-0.0008-0.04%
    GBPSGD=X
    75.1410+0.224+0.30%
    SGDJPY=X
    5.6921-0.0103-0.18%
    SGDHKD=X
    2.9776+0.0023+0.08%
    SGDMYR=X
    9,742.9688-9.5352-0.10%
    SGDIDR=X
    4.9014-0.0129-0.26%
    SGDCNY=X
    1.0283-0.0016-0.16%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,323.80-3.30-0.25%
    GCZ16.CMX
    18.69-0.08-0.42%
    SIU16.CMX
    96.93+1.14+1.19%
    ^XAU
    2.080.00+0.02%
    HGU16.CMX
    47.09+0.11+0.23%
    CLV16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.18-0.06
    ^FVX
    1.57-0.07
    ^TNX
    2.22-0.08
    ^TYX