The Star Online: Business

MIDF Research: Return of local retail investors
SapuraKencana drives KLCI higher in early trade
Sino Hua-An in the black, posts RM3.33m net profit

MIDF Research: Return of local retail investors

Posted: 19 May 2013 07:23 PM PDT

KUALA LUMPUR: MIDF Equities Research said local retail investors turned net buyers in the week ended May 17, which was the first time in 24 weeks, although it was a marginal RM16.8mil.

The research house said on Monday there was a heightened participation rate of RM1.5bil, higher than that of foreign investors.

"Local retailers do have cash, having sold net RM5.9bil this year, surpassing the net RM4.2bil offloaded in the entire 2012," it said.

MIDF Research said however, selling by local funds continued to be aggressive last week. Net sale by local funds was RM1.1b compared with RM2.4b the week before.

It pointed out their participation rate of RM2.5bil was the second highest this year after the RM3.6bil the week before.

"As is the case with local retailers, local funds are also sitting on a huge pool of liquidity, having reduced their equity exposure in 2013 by a massive RM12.7bil net in the open market, compared with RM9.5b net sold down in the entire 2012," it said.

As for foreign buying, the intensity faded as expected after an unprecedented surge in foreign buying in the aftermath of the 13th General Election.

"Foreign investors bought net RM1.1bil net of Malaysian equity in the open market (that is excluding off-market deals) last week.

"It was much lower than the net RM3.1bil snapped the week before, but sizeable enough to be the fourth highest in a week this year. It was also a record 23 straight weeks of net buying by the foreigners," said MIDF Research.

SapuraKencana drives KLCI higher in early trade

Posted: 19 May 2013 06:51 PM PDT

Published: Monday May 20, 2013 MYT 9:52:00 AM

KUALA LUMPUR: Rising interest in the oil and gas (O&G) sector saw SapuraKencana Petroleum emerging as among the top gainers in early Monday trade, driving the FBM KLCI higher.

At 9.32am, the KLCI was up 2.95 points to 1,772.11. Turnover was 416.07 million shares valued at RM227.51mil. Advancing counters beat decliners 452 to 92 while 190 counters were unchanged.

JF Apex Research said the after the KLCI took a breather following the recent spike following the outcome of the 13th General Election, "we expect the index to consolidate before climbing and re-testing the resistance of 1,800," it said. SKPetro rose 15 sen to RM2.70 and smaller O&G player Deleum added 13 sen to RM3.48.

Consumer stocks regained their momentum on Monday, with GAB adding 58 sen to RM21, Nestle 50 sen to RM65.50 and Dutch Lady 22 sen to RM47.98 with 100 shares done.

Among the insurers, Allianz gained 25 sen to RM9.75 and MNRB 22 sen to RM3.62.

IGB and Time dotCom rose 15 sen each to RM2.70 and RM4.50.

Genting Plantations fell 25 sen to RM8.80 with 100 shares done while among the banks, HLBank and AmBank fell 10 sen each to RM14.20 and RM7.14.

Petrol One which will be suspended from Wednesday until further notice, fell six sen to eight sen.

Sino Hua-An in the black, posts RM3.33m net profit

Posted: 19 May 2013 06:35 PM PDT

Published: Monday May 20, 2013 MYT 9:36:00 AM

KUALA LUMPUR: Sino Hua-An International Ltd was in the black in the first quarter ended March 31, 2013 with net profit of RM3.33mil versus net loss of RM19.91mil a year ago.

It reported net loss of RM10.78mil in the fourth quarter ended Dec 31, 2012 also.

Sino Hua-An said on Monday that however, revenue fell 12.5% to RM334.16mil from RM382.12mil a year ago.

Earnings per share were 0.3 sen compared with loss per share of 1.77 sen.

Trading was halted from 9am to 10am for the announcement.

Kredit: www.thestar.com.my

Ahad, 19 Mei 2013