Showing posts with label Share. Show all posts
Showing posts with label Share. Show all posts
Monday, September 12, 2011
Monday, August 16, 2010
EPF on a selling spree in August? -TM & IOI
Written by Isabelle Francis
Friday, 13 August 2010 11:49
KUALA LUMPUR: The Employees Provident Fund (EPF) has been selling down its stakes in several companies in the first week of the month, with the more notable ones being the disposal of large blocks in IOI Corporation Bhd and Telekom Malaysia Bhd (TM).
It is unclear as to whether the transactions at more than 10 counters resulted in gains or losses, but it certainly was a sensible action by the provident fund to limit losses given the recent slump in equity markets.
“It (sell down) is seen as a prudent move as the provident fund is selling just as the markets start sliding,” said an analyst.
US stocks slumped on Wednesday as negative data from the US and China offered a bleak outlook on the global economic recovery. The Dow Jones Industrial Average dropped 265.42 points or 2.49% to end at 10,378.83, making it the worst drop in nearly a month.
On Wednesday, most Asian markets slumped as data showed Japan’s machinery orders were weaker-than-expected while the growth in Chinese investment slowed down.
The FBM KLCI yesterday lost four more points to settle at 1,349.3. Elsewhere in the region, the Straits Times Index shed 22 points to close at 2,927, The Shanghai SE Composite fell 32 points to settle at 2,575.5, the Hang Seng Index was down 188 points to 21,105.7 and the Nikkei 225 index declined 80 points to 9,212.6.
The EPF’s most notable disposal is the 25.5 million IOI Corp shares it sold between Aug 2 and Aug 5, 2010, bringing its current shareholding in the planter to 12.77%.
In fact, over the past seven trading days, since July 27, 2010, EPF has disposed of a total of 32.72 million shares, or a 0.5% stake, in the plantation heavyweight.
IOI Corp shares were trading between RM5.10 and RM5.13 during the seven-day period.
Yesterday, IOI Corp shares closed three sen lower at RM5.09, ahead of its 4Q FY June 30, 2010 results announcement, which are tentatively due to be released next Tuesday.
The provident fund’s move to shave off its interest in the company is understandable given its high valuations and the challenging outlook for plantation players, although crude palm oil prices have rallied recently on weather concerns.
OSK in a recent note maintained its neutral call on the sector given the crosswinds and threat of overwhelming supply from Indonesia.
It continues to believe the sector will not see a broad-based rally for some time. The house has a neutral call on Kuala Lumpur Kepong Bhd (KLK) and sell recommendations on Sime Darby Bhd and IOI Corp.
Notably also is that on Aug 2 and Aug 3, 2010, EPF had also sold 1.2 million shares of KLK and 5.06 million shares in the country’s largest listed planter Sime Darby Bhd. The provident fund’s current shareholding in KLK stands at 14.9%, and 15.3% at Sime.
The EPF had also disposed of almost 10 million shares or about 0.3% stake in TM between Aug 2 and Aug 6, 2010.
TM shares were trading between RM3.38 and RM3.39 during the five-day period.
Additionally, the provident fund has decreased its shareholding in national utility firm Tenaga Nasional Bhd via the disposal of almost nine million shares on Aug 2 and Aug 3, 2010. Tenaga shares were trading between RM8.59 and RM8.68 during the two-day period.
The EPF had also disposed of some of its interest in the nation’s two largest lenders in terms of asset. Between Aug 2 and Aug 5, 2010, the provident fund sold almost 10 million shares in CIMB Group Holdings Bhd and more than 14 million shares in Malayan Banking Bhd.
But the disposals are negligible given the large base of more than seven billion shares for the two banks respectively. The EPF’s selling spree appears to be across sectors as it had disposed of more than five million shares in builder IJM Corp Bhd and developer UEM Land Holdings Bhd.
Also worth noting is that the EPF had sold less than five million shares each of Gamuda Bhd, MISC Bhd, AMMB Holdings Bhd, Malaysia Airports Holdings Bhd, and DRB-Hicom Bhd between Aug 2 and Aug 5, 2010.
http://www.theedgemalaysia.com/highlights/171763-epf-on-a-selling-spree-in-august.html
Friday, 13 August 2010 11:49
KUALA LUMPUR: The Employees Provident Fund (EPF) has been selling down its stakes in several companies in the first week of the month, with the more notable ones being the disposal of large blocks in IOI Corporation Bhd and Telekom Malaysia Bhd (TM).
It is unclear as to whether the transactions at more than 10 counters resulted in gains or losses, but it certainly was a sensible action by the provident fund to limit losses given the recent slump in equity markets.
“It (sell down) is seen as a prudent move as the provident fund is selling just as the markets start sliding,” said an analyst.
US stocks slumped on Wednesday as negative data from the US and China offered a bleak outlook on the global economic recovery. The Dow Jones Industrial Average dropped 265.42 points or 2.49% to end at 10,378.83, making it the worst drop in nearly a month.
On Wednesday, most Asian markets slumped as data showed Japan’s machinery orders were weaker-than-expected while the growth in Chinese investment slowed down.
The FBM KLCI yesterday lost four more points to settle at 1,349.3. Elsewhere in the region, the Straits Times Index shed 22 points to close at 2,927, The Shanghai SE Composite fell 32 points to settle at 2,575.5, the Hang Seng Index was down 188 points to 21,105.7 and the Nikkei 225 index declined 80 points to 9,212.6.
The EPF’s most notable disposal is the 25.5 million IOI Corp shares it sold between Aug 2 and Aug 5, 2010, bringing its current shareholding in the planter to 12.77%.
In fact, over the past seven trading days, since July 27, 2010, EPF has disposed of a total of 32.72 million shares, or a 0.5% stake, in the plantation heavyweight.
IOI Corp shares were trading between RM5.10 and RM5.13 during the seven-day period.
Yesterday, IOI Corp shares closed three sen lower at RM5.09, ahead of its 4Q FY June 30, 2010 results announcement, which are tentatively due to be released next Tuesday.
The provident fund’s move to shave off its interest in the company is understandable given its high valuations and the challenging outlook for plantation players, although crude palm oil prices have rallied recently on weather concerns.
OSK in a recent note maintained its neutral call on the sector given the crosswinds and threat of overwhelming supply from Indonesia.
It continues to believe the sector will not see a broad-based rally for some time. The house has a neutral call on Kuala Lumpur Kepong Bhd (KLK) and sell recommendations on Sime Darby Bhd and IOI Corp.
Notably also is that on Aug 2 and Aug 3, 2010, EPF had also sold 1.2 million shares of KLK and 5.06 million shares in the country’s largest listed planter Sime Darby Bhd. The provident fund’s current shareholding in KLK stands at 14.9%, and 15.3% at Sime.
The EPF had also disposed of almost 10 million shares or about 0.3% stake in TM between Aug 2 and Aug 6, 2010.
TM shares were trading between RM3.38 and RM3.39 during the five-day period.
Additionally, the provident fund has decreased its shareholding in national utility firm Tenaga Nasional Bhd via the disposal of almost nine million shares on Aug 2 and Aug 3, 2010. Tenaga shares were trading between RM8.59 and RM8.68 during the two-day period.
The EPF had also disposed of some of its interest in the nation’s two largest lenders in terms of asset. Between Aug 2 and Aug 5, 2010, the provident fund sold almost 10 million shares in CIMB Group Holdings Bhd and more than 14 million shares in Malayan Banking Bhd.
But the disposals are negligible given the large base of more than seven billion shares for the two banks respectively. The EPF’s selling spree appears to be across sectors as it had disposed of more than five million shares in builder IJM Corp Bhd and developer UEM Land Holdings Bhd.
Also worth noting is that the EPF had sold less than five million shares each of Gamuda Bhd, MISC Bhd, AMMB Holdings Bhd, Malaysia Airports Holdings Bhd, and DRB-Hicom Bhd between Aug 2 and Aug 5, 2010.
http://www.theedgemalaysia.com/highlights/171763-epf-on-a-selling-spree-in-august.html
Sunday, July 18, 2010
CIMB Research maintains Outperform on Axiata
Tags: Axiata
CIMB Equities Research
Written by CIMB Equities Research
Monday, 19 July 2010 08:34
KUALA LUMPUR: CIMB Equities Research is maintaining its Outperform call and sum-of-parts based target price of RM4.95 for Axiata Group Bhd.
It said on Monday, July 19 that likely catalysts are further earnings surprises. While consensus estimates are rising, it still thinks that the market is behind the curve, it added.
“Our forecasts are 21%-23% above consensus although the gap is down from 30%-34% two months ago. Axiata remains our top Malaysian telco pick but XL Axiata is our favourite regional telco play,” it said.
http://www.theedgemalaysia.com/business-news/170124-cimb-research-maintains-outperform-on-axiata.html
CIMB Equities Research
Written by CIMB Equities Research
Monday, 19 July 2010 08:34
KUALA LUMPUR: CIMB Equities Research is maintaining its Outperform call and sum-of-parts based target price of RM4.95 for Axiata Group Bhd.
It said on Monday, July 19 that likely catalysts are further earnings surprises. While consensus estimates are rising, it still thinks that the market is behind the curve, it added.
“Our forecasts are 21%-23% above consensus although the gap is down from 30%-34% two months ago. Axiata remains our top Malaysian telco pick but XL Axiata is our favourite regional telco play,” it said.
http://www.theedgemalaysia.com/business-news/170124-cimb-research-maintains-outperform-on-axiata.html
Wednesday, July 14, 2010
Time dotCom rises to 2-year high
Published: 2010/07/12
Time dotCom Bhd rose to its highest level in more than two years after CIMB Investment Bank Bhd said investors should buy the Malaysian fiber-optic capacity provider, which will gain from the “explosive” growth of the wireless broadband and mobile data market.
The stock climbed 5 per cent to 52.5 sen at 10:56 a.m. local time in Kuala Lumpur, set for its highest close since April 23, 2008. -- Bloomberg
http://www.btimes.com.my/Current_News/BTIMES/articles/20100712110818/Article/
Time dotCom Bhd rose to its highest level in more than two years after CIMB Investment Bank Bhd said investors should buy the Malaysian fiber-optic capacity provider, which will gain from the “explosive” growth of the wireless broadband and mobile data market.
The stock climbed 5 per cent to 52.5 sen at 10:56 a.m. local time in Kuala Lumpur, set for its highest close since April 23, 2008. -- Bloomberg
http://www.btimes.com.my/Current_News/BTIMES/articles/20100712110818/Article/
Thursday, June 3, 2010
Maxis: Buy, target price RM5.90
Published: 2010/06/04
Share
ECM Libra Investment Research upgraded its recommendation on Maxis Bhd (6012) following the recent weakness in its share price.
However, it maintained its target price of RM5.90 as it did not upgrade its earnings estimates.
"Maxis' first quarter results were within expectations, as revenue and net profit achieved 24 per cent of our FY10 estimates. Likewise, against consensus estimates, first quarter revenue and net profit met 24 per cent and 22 per cent of FY10 figures respectively," it said.
Maxis added a total of 400,000 new subscribers in the first quarter to 12.69 million subscribers. Most of the net adds came from prepaid (in particular the youth segment) whereby Maxis added 351,000 prepaid subscribers to 9.67 million while postpaid subs base stayed flat at 2.71 million for a second consecutive quarter.
"Management reiterated its focus on quality postpaid subs, and this has been reflected by the noticeable drop in bad debts exposure within their opex (1.4 per cent of revenue in 1QFY10 versus 2.1 per cent in 3QFY09)," it said.
Maxis declared a first interim single-tier tax exempt dividend of 8 sen/share, which represents 108 per cent of first quarter 2010 EPS.
"We have revised our dividend payout assumption to 113 per cent (previously 85 per cent), following management hinting of similar dividends for the remaining three quarters. This implies FY10 DPS of 35 sen or an attractive yield of 6.7 per cent," it said.
http://www.btimes.com.my/Current_News/BTIMES/articles/3maxis/Article/index_html
Share
ECM Libra Investment Research upgraded its recommendation on Maxis Bhd (6012) following the recent weakness in its share price.
However, it maintained its target price of RM5.90 as it did not upgrade its earnings estimates.
"Maxis' first quarter results were within expectations, as revenue and net profit achieved 24 per cent of our FY10 estimates. Likewise, against consensus estimates, first quarter revenue and net profit met 24 per cent and 22 per cent of FY10 figures respectively," it said.
Maxis added a total of 400,000 new subscribers in the first quarter to 12.69 million subscribers. Most of the net adds came from prepaid (in particular the youth segment) whereby Maxis added 351,000 prepaid subscribers to 9.67 million while postpaid subs base stayed flat at 2.71 million for a second consecutive quarter.
"Management reiterated its focus on quality postpaid subs, and this has been reflected by the noticeable drop in bad debts exposure within their opex (1.4 per cent of revenue in 1QFY10 versus 2.1 per cent in 3QFY09)," it said.
Maxis declared a first interim single-tier tax exempt dividend of 8 sen/share, which represents 108 per cent of first quarter 2010 EPS.
"We have revised our dividend payout assumption to 113 per cent (previously 85 per cent), following management hinting of similar dividends for the remaining three quarters. This implies FY10 DPS of 35 sen or an attractive yield of 6.7 per cent," it said.
http://www.btimes.com.my/Current_News/BTIMES/articles/3maxis/Article/index_html
Sunday, May 30, 2010
Axiata upgraded to 'buy' from 'hold'
Published: 2010/05/31
Axiata Group Bhd was upgraded to “buy” from “hold” at HwangDBS Vickers Sdn Bhd, with a raised share forecast of RM4.50.
The research house said in a report today it also increased the mobile phone company’s earnings estimate by 46 per cent for its 2010 financial year and by 39 per cent for 2011.
Its shares climbed 1.1 per cent to RM3.73 at 9:04 am local time, set for their highest close
http://www.btimes.com.my/Current_News/BTIMES/articles/20100531093353/Article/index_html
Axiata Group Bhd was upgraded to “buy” from “hold” at HwangDBS Vickers Sdn Bhd, with a raised share forecast of RM4.50.
The research house said in a report today it also increased the mobile phone company’s earnings estimate by 46 per cent for its 2010 financial year and by 39 per cent for 2011.
Its shares climbed 1.1 per cent to RM3.73 at 9:04 am local time, set for their highest close
http://www.btimes.com.my/Current_News/BTIMES/articles/20100531093353/Article/index_html
TM rises on Q1 net income leap
Published: 2010/05/31
Telekom Malaysia Bhd, a fixed-line phone and internet operater, rose its highest level in almost two weeks in Kuala Lumpur trading after saying first-quarter net income jumped to RM242.9 million from RM27.7 million a year ago.
The stock rose 2.8 per cent to RM3.35 at 9:14 a.m. local time, set for its highest close since May 18. -- Bloomberg
http://www.btimes.com.my/Current_News/BTIMES/articles/20100531093018/Article/index_html
Telekom Malaysia Bhd, a fixed-line phone and internet operater, rose its highest level in almost two weeks in Kuala Lumpur trading after saying first-quarter net income jumped to RM242.9 million from RM27.7 million a year ago.
The stock rose 2.8 per cent to RM3.35 at 9:14 a.m. local time, set for its highest close since May 18. -- Bloomberg
http://www.btimes.com.my/Current_News/BTIMES/articles/20100531093018/Article/index_html
Wednesday, March 31, 2010
Maxis plans RM700m broadband expansion
By Goh Thean Eu
Published: 2010/04/01
MAXIS Bhd (6012), the country's largest mobile operator, will be spending more than RM700 million to expand its wireless broadband network this year as it wants to become the number one player in that segment.
"We plan to allocate more than half of our RM1.4 billion capital expenditure on mobile broadband (expansion) this year," said its chief executive officer Sandip Das on the sidelines of Invest Malaysia 2010 in Kuala Lumpur yesterday.
The investment may turn Maxis into the number one player in the mobile broadband segment in terms of coverage.
It hopes to hit 75 to 80 per cent in mobile broadband coverage by year-end. It is understood that most mobile operators' mobile broadband network now covers less than 70 per cent of the population.
"We are clear that we want to be the number one in broadband," Sandip said.
Currently, rival Celcom Axiata Bhd holds the pole position in the mobile broadband subscriber market. However, industry players believe the market leadership is still up for grabs as the market remains underpenetrated and at its infant stage.
The company - which saw its market share decline in the first half of last year - is optimistic that the worst is over and is ready to pounce on its rivals.
"I think Maxis is back with a big bang. We have some small issues in the first half, (and) we have fixed them. We have come back very strongly in the broadband (segment) in the last quarter.
"This is the hype of competition in the country. Malaysia has never seen this kind of competition. You must give credit to Maxis that we still remain number one in most segments such as postpaid, prepaid and value-added services.
"We are also still a very strong Ebitda-margin company. We have 50 per cent Ebitda margin, which is six to seven percentage points better than competitors," said Sandip.
Maxis registered a net profit of RM503 million on revenue of RM2.2 billion for the fourth quarter ended December 31 2010. For the full year, it posted a net profit of RM2.2 billion and revenue of RM8.6 billion.
http://www.btimes.com.my/Current_News/BTIMES/articles/maxi31/Article/
Published: 2010/04/01
MAXIS Bhd (6012), the country's largest mobile operator, will be spending more than RM700 million to expand its wireless broadband network this year as it wants to become the number one player in that segment.
"We plan to allocate more than half of our RM1.4 billion capital expenditure on mobile broadband (expansion) this year," said its chief executive officer Sandip Das on the sidelines of Invest Malaysia 2010 in Kuala Lumpur yesterday.
The investment may turn Maxis into the number one player in the mobile broadband segment in terms of coverage.
It hopes to hit 75 to 80 per cent in mobile broadband coverage by year-end. It is understood that most mobile operators' mobile broadband network now covers less than 70 per cent of the population.
"We are clear that we want to be the number one in broadband," Sandip said.
Currently, rival Celcom Axiata Bhd holds the pole position in the mobile broadband subscriber market. However, industry players believe the market leadership is still up for grabs as the market remains underpenetrated and at its infant stage.
The company - which saw its market share decline in the first half of last year - is optimistic that the worst is over and is ready to pounce on its rivals.
"I think Maxis is back with a big bang. We have some small issues in the first half, (and) we have fixed them. We have come back very strongly in the broadband (segment) in the last quarter.
"This is the hype of competition in the country. Malaysia has never seen this kind of competition. You must give credit to Maxis that we still remain number one in most segments such as postpaid, prepaid and value-added services.
"We are also still a very strong Ebitda-margin company. We have 50 per cent Ebitda margin, which is six to seven percentage points better than competitors," said Sandip.
Maxis registered a net profit of RM503 million on revenue of RM2.2 billion for the fourth quarter ended December 31 2010. For the full year, it posted a net profit of RM2.2 billion and revenue of RM8.6 billion.
http://www.btimes.com.my/Current_News/BTIMES/articles/maxi31/Article/
Friday, March 26, 2010
Telekom Malaysia: Buy, target price RM3.45
HWANGDBS Vickers Research has reiterated its "buy" call on telecommunication firm Telekom Malaysia (TM) (4863) with a price target of RM3.45.TM this week signed with 20 television content providers to supply IPTV content as part of its plan to offer triple play services on its HSBB (high-speed broadband) network. "We view this development positively as this would help to enhance the value proposition of its HSBB Internet service," the broker said in a March 23 report. The latest news could lend support to TM's share price, it noted, adding that the stock also offers a 6 per cent net dividend yield, which is sustainable.
TM has signed up content providers like BBC Knowledge, BBC Lifestyle, CBeebies, Channel News Asia, Star Chinese Movies 2, Star Chinese Channel, Channel [V] Taiwan, and Euronews. TM also partners with Hit Entertainment, CBS, Disney-ABC and Sony Pictures Television to offer IPTV viewers the latest movies and TV series through video-on demand."TM's HSBB can be a threat to Astro because some consumers have been unhappy with Astro's content, and they may welcome a viable alternative," the report said.
http://www.btimes.com.my/Current_News/BTIMES/articles/bv25f/Article/
TM has signed up content providers like BBC Knowledge, BBC Lifestyle, CBeebies, Channel News Asia, Star Chinese Movies 2, Star Chinese Channel, Channel [V] Taiwan, and Euronews. TM also partners with Hit Entertainment, CBS, Disney-ABC and Sony Pictures Television to offer IPTV viewers the latest movies and TV series through video-on demand."TM's HSBB can be a threat to Astro because some consumers have been unhappy with Astro's content, and they may welcome a viable alternative," the report said.
http://www.btimes.com.my/Current_News/BTIMES/articles/bv25f/Article/
Tuesday, March 2, 2010
Maxis, TM get Sri Lanka invite to invest in satellite project
Business Times : 5 January 2010
Both Maxis and Telekom Malaysia have expressed interest and said they will invest if the project is commercially viable, says Sri Lanka
NEW DELHI: Sri Lanka is inviting two top Malaysian telco operators Maxis Communications Bhd (6012) and Telekom Malaysia Bhd (TM) to invest in its US$150 million (RM525 million) maiden satellite project.Plans are in the pipeline to launch the nation's first geostationary satellite after it signed a deal with UK-based Surrey Satellite Technologies Ltd (SSTL) last December.
"We have invited Maxis (Communications) and Telekom Malaysia, both of which have already invested in Sri Lanka," Priyantha Kariyapperuma, director-general of Sri Lanka's Telecom Regulatory Commission, said in a telephone interview from Colombo."They have expressed interest and said they will invest if the project is commercially viable." Dialog, a subsidiary of Axiata Group Bhd (formerly known as TM International), is the top telecommunications service provider in Sri Lanka, with the largest mobile network.
Maxis became another major Malaysian player in the island after its parent company Usaha Tegas purchased a sizeable stake in Sri Lanka Telecom.Kariyapperuma said the invitation is still in a preliminary stage and nothing constructive had emerged yet from the two firms."It is still in preliminary stage, we should be able to get more details later this year," he said.The Sri Lankan government is in the process of setting up its space agency and plans to launch its first satellite, to be named after the famous British physicist Sri Arthur C. Clarke, who made the island his home until his death. - Bernama
http://www.btimes.com.my/Current_News/BTIMES/articles/maxtel/Article/index_html
Both Maxis and Telekom Malaysia have expressed interest and said they will invest if the project is commercially viable, says Sri Lanka
NEW DELHI: Sri Lanka is inviting two top Malaysian telco operators Maxis Communications Bhd (6012) and Telekom Malaysia Bhd (TM) to invest in its US$150 million (RM525 million) maiden satellite project.Plans are in the pipeline to launch the nation's first geostationary satellite after it signed a deal with UK-based Surrey Satellite Technologies Ltd (SSTL) last December.
"We have invited Maxis (Communications) and Telekom Malaysia, both of which have already invested in Sri Lanka," Priyantha Kariyapperuma, director-general of Sri Lanka's Telecom Regulatory Commission, said in a telephone interview from Colombo."They have expressed interest and said they will invest if the project is commercially viable." Dialog, a subsidiary of Axiata Group Bhd (formerly known as TM International), is the top telecommunications service provider in Sri Lanka, with the largest mobile network.
Maxis became another major Malaysian player in the island after its parent company Usaha Tegas purchased a sizeable stake in Sri Lanka Telecom.Kariyapperuma said the invitation is still in a preliminary stage and nothing constructive had emerged yet from the two firms."It is still in preliminary stage, we should be able to get more details later this year," he said.The Sri Lankan government is in the process of setting up its space agency and plans to launch its first satellite, to be named after the famous British physicist Sri Arthur C. Clarke, who made the island his home until his death. - Bernama
http://www.btimes.com.my/Current_News/BTIMES/articles/maxtel/Article/index_html
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