The Star Online: Business

SP Setia slips, investors await more details of RM1b project
Malaysia blue chips edge higher, Astro slips
CIMB Research keeps telco sector as Neutral, Axiata top pick

SP Setia slips, investors await more details of RM1b project

Posted: 05 Dec 2012 05:48 PM PST

KUALA LUMPUR: Shares of property developer SP Setia Bhd slipped on Thursday as investors awaited more details about its proposed development of the British High Commission land here.

At 9.34am, it was down two sen to RM3.06. There were 151,500 shares done at prices ranging from RM3.06 to RM3.11.

The FBM KLCI was up 3.94 points to 1,617.73. Turnover was 82.47 million shares valued at RM80.81mil. There were 131 gainers, 79 losers and 158 counters unchanged.

SP Setia had successfully tendered for another the British High Commission land, measuring 3.1 acres situated along Jalan Ampang for RM295mil or RM2,200 per sq ft.

It would build investment-grade commercial and residential properties with a potential gross development value (GDV) of RM1bil.

Public Investment Research said SP Setia would have no problems financing the deal, given its balance sheet strength, that is net gearing of 0.3 times and the planned private placement that could raise RM1bil.

"We maintain our Outperform Call and RM4.40 TP (10% discount to RNAV of RM4.87). We still favor SP Setia for its sizable and well-located landbank, consistent performance and good earnings visibility," it said.

Malaysia blue chips edge higher, Astro slips

Posted: 05 Dec 2012 05:30 PM PST

Published: Thursday December 6, 2012 MYT 9:30:00 AM

KUALA LUMPUR: The FBM KLCI extended its gains in early trade on Thursday, supported by fund buying of consumer stocks and UMW but Astro fell in active trade after the recent run-up.

At 9.10am, the FBM KLCI was up 3.53 points to 1,617.32. Turnover was 30.94 million shares valued at RM22.29mil. There were 89 gainers, 54 losers and 110 counters unchanged.

Nestle was the top gainer, up 92 sen to RM63.90 with 2000 shares done while BAT added 22 sen to RM57.92.

Insurer Alllianz gained nine sen to RM7.17 while interest in PPB saw the share price climb eight sen to RM11.98 and UMW extended its gains, adding six sen to RM11.38.

Astro fell four sen to RM2.93 with 1.37 million shares done after it announced its results a 1.5 sen net dividend per share. CIMB Equities Research kept it an Outperform but lowered its target price from RM3.30 to RM3.28.

Top Glove fell the most, down eight sen to RM5.62, Petronas Dagangan and MISC slipped four sen each to RM23.10 and RM3.95 while FGV shed three sen to RM4.58.

CIMB Research keeps telco sector as Neutral, Axiata top pick

Posted: 05 Dec 2012 05:13 PM PST

Published: Thursday December 6, 2012 MYT 9:13:00 AM

KUALA LUMPUR: CIMB Equities Research is keeping its Neutral outlook for the telco sector while Axiata remains its top pick.

On Wednesday, the Malaysian Communications and Multimedia Commission (MCMC) has allocated the 2600 MHz spectrum band to eight companies which will allow them to provide 4G services.

The eight are Celcom Axiata Bhd, DiGi Telecommunications Sdn Bhd, Maxis Broadband Sdn Bhd, Packet One Networks (M) Sdn Bhd, Puncak Semangat Sdn Bhd, REDtone Marketing Sdn Bhd, U Mobile Sdn Bhd and YTL Communications Sdn Bhd.

CIMB Research said the regulator has finally assigned the 2.6GHz spectrum, allocating Maxis and Celcom spectrum that gives them two possible partners to share spectrum with to achieve an optimal 2x20MHz block.

"DiGi could be locked out and may have to contend with sub-optimal allocation. LTE will not be a game changer in Malaysia, in our view, given the limited coverage.

"We think that Maxis will be the key beneficiary of LTE given its profile of higher-income users who are likely to be early adopters of LTE devices," it said.

Kredit: www.thestar.com.my

Rabu, 5 Disember 2012