ASEAN KEY DESTINATIONS
20 November 2014
The Straits Times Index (STI) ended -18.96 points lower or -0.57% to 3315.6, taking the year-to-date performance to +4.76%.
The FTSE ST Mid Cap Index declined -0.35% while the FTSE ST Small Cap Index declined -0.53%. The top active stocks were SingTel (-0.76%), UOB (+0.04%), DBS (-0.81%), OCBC Bank (-1.43%) and Keppel Corp (-1.29%).
The outperforming sectors today were represented by the FTSE ST Consumer Services Index (-0.10%). The two biggest stocks of the FTSE ST Consumer Services Index are Jardine Cycle & Carriage (-1.51%) and Genting Singapore (+1.38%). The underperforming sector was the FTSE ST Basic Materials Index, which declined -3.64% with Midas Holdings’ share price declining -1.70% and Geo Energy Resources’ share price declining -9.55%.
The three most active Exchange Traded Funds (ETFs) by value today were the IS MSCI India (-0.65%), SPDR Gold Shares (-1.07%), STI ETF (-0.30%).
The three most active Real Estate Investment Trusts (REITs) by value were Suntec Reit (+0.26%), CapitaCom Trust (-0.89%), CapitaMall Trust (-0.51%).
The most active index warrants by value today were HSI23800MBeCW141230 (-1.27%), HSI23000MBePW141230 (+3.16%), HSI23600MBePW141230 (+0.69%).
The most active stock warrants by value today were DBS MB eCW150602 (-1.61%), OCBC Bk MBeCW150413 (-7.84%), DBS MB ePW150401 (+6.25%).
Singapore Stock Market
*ST Index 3,315.6 -18.96 3,334.56 +20.83
Volume: 1,117.2M 1,316.4M
Value: $1,038.9M $1,096.8M
Gainers/Losers: 147/263 237/170
Daily Market Commentary (Securities)
20 Nov 2014
The FBM KLCI index lost 2.10 points or 0.12% on Thursday. The Finance Index fell 0.65% to 16296.59 points, the Properties Index dropped 0.20% to 1403.1 points and the Plantation Index down 1.20% to 8235.83 points. The market traded within a range of 7.95 points between an intra-day high of 1825.12 and a low of 1817.17 during the session.
Actively traded stocks include MINETEC, SYSTECH, JASKITA, MEGB, AAX, PRIVA, NEXGRAM, PSIPTEK-WA, JAG and ASIABIO. Trading volume decreased to 1644.23 mil shares worth RM1622.68 mil as compared to Wednesday’s 2105.61 mil shares worth RM1927.80 mil.
Leading Movers were MAXIS (+23 sen to RM7.12), GENTING (+23 sen to RM9.60), ASTRO (+8 sen to RM3.41), TENAGA (+24 sen to RM13.98) and HLFG (+20 sen to RM18.18). Lagging Movers were MISC (-24 sen to RM7.24), KLK (-64 sen to RM22.36), CIMB (-16 sen to RM5.90), RHBCAP (-18 sen to RM8.27) and PETDAG (-36 sen to RM18.34). Market breadth was negative with 260 gainers as compared to 500 losers.
The KLCI closed 2.10 points lower to settle at 1822.29 points. The local bourse traded in the red for majority of the day, amid an overnight decline in Wall Street on fears of deflation. Regionally, Asian markets were mostly mixed, as investors reacted to news of China's factory output declining to a six-month low, dampening investor confidence and stoking fears that the world’s second largest economy is slowing down.
Date As of: 20 November 2014
Description Volume Value Frequency
ETF 34,500 14,356,200 179
Stock 5,509,718,915 5,216,440,602,101 211,685
Warrant 9,112,300 612,404,900 1,138
Total 5,518,865,715 5,217,067,363,201 213,002
Thai alternative bourse’s companies post 8.7 pct sales growth in 9 months of 2014
- Nine-month sales up 8.76 pct y-o-y, but net profits down slightly on rising costs
- Financials, resources and consumer products are top performance industries.
BANGKOK, November 20, 2014 - Companies listed on Market for Alternative Investment (mai), under The Stock Exchange of Thailand (SET) group, reported sales of THB 91 billion (approx. USD 2,757.5 million) during January to September 2014, up 8.76 percent from a year earlier, while net profit decreased slightly from rising operating costs. Three industries posted rising net profit, in descending sequence: financials, resources and consumer products.
mai President Prapan Charoenprawatt said, “From financial statements from 108 listed firms of 109 companies listed in mai (One firm not having summited financial statement), in the third quarter of this year, ending September 30, there were 77 firms, representing 71 percent of total mai-listed companies having reported financial statement , showing net profits in the third quarter. There were aggregate sales of THB 30.42 billion, up 8.33 percent. Gross profit margins were up to 20.92 percent from 20.44 percent a year ago as costs of goods sold rose 7.67 percent. Combined net profit rose 160.46 percent to THB 1.37 billion.”
The top five net profit-making firms in the third quarter, in descending order, were: Energy Earth pcl (EA) with posted earning at THB 373 million, The Brooker Group pcl (BROOK) at THB 182 million, Thai Solar Energy pcl (TSE) at THB 112 million, E For L Aim (EFORL) at THB 85 million, and International Research Corporation (IRCP) at THB 79 million.
From January-September 2014, companies reported aggregated sales of THB 91 billion, up 8.76 percent from a year earlier, while overall cost of goods sold increased 8.68 percent, therefore, mai-listed companies could maintain gross profit margin at 20.67 percent. However, combined net profits dropped from THB 4.22 billion to THB 4.19 billion, down only 0.58%.
Currently, there are 109 mai-listed firms. As of November 18, 2014, the mai index closed at 747.60 points, up 109.53 percent since the start of this year, with a total market capitalization of THB 386.52 billion and daily average trading volume of THB 3.60 billion. Starting from the first trading day of 2015, mai will announce eight industry groups categorizing from their business aspects. For more information of mai listed firms' financial statements, please visit www.mai.or.th and www.settrade.com
Thai bourse to list Carabao energy drink on Nov 21
BANGKOK, November 20, 2014 –The Stock Exchange of Thailand (SET) group, will list Carabao Group pcl, a leader in producer and distribution of energy drinks under Carabao Dang trademark on November 21, under the ticker symbol "CBG” in the Agro & Food Industry, Food & Beverage sector. The company has a market capitalization at its initial public offering (IPO) of THB 28 billion (approx. USD 848 million).
SET’s Executive Vice President Chanitr Charnchainarong said, “Carabao Group is a holding company, mainly investing in subsidiaries operating the production, distribution, sale and marketing of energy drinks and other products under Carabao Dang trademark. The company is a key player in the domestic energy drink market with a 21.3 percent share in the first seven months of 2014. It also produces and distributes a sport beverage called Start Plus.”
CBG has a paid-up registered capital of THB 1 billion, consisting of 850 million existing common shares and 150 million newly issued shares, with a par value of THB 1 each. The company offered 250 million shares to the general public during November 12-14 at THB 28 each, for a total of THB 4.2 billion. Kasikorn Securities pcl and CIMB Thai Bank pcl are financial advisors. Kasikorn Securities pcl and CIMB Securities (Thailand) Co.Ltd. are underwriters.
Carabao’s CEO Sathien Setthasit said that the fund raised would be used to repay debt to financial institutions borrowed to expand high speed beverage production line with “Krones” (An imported high-technology production line from Germany), build amber glass bottle factory, buy land and construct head office building. The raise will be use as working capital to enhance the company’s financial strength, boost growth prospects to become a leader of energy drinks in Thailand and the CLMV countries (Cambodia, Laos, Myanmar and Vietnam.)
CBG's three major shareholders after the IPO are Sathien Setthasit group (34.30 percent), Natchamai Thanombooncharoen group (26.6 percent) and Yuenyong Opakul Group (14.2 percent).The IPO price determined by book building process is equivalent to price per earnings ratio (P/E ratio) of 30.3 times, calculated by using the company's net profit in the past four quarters (Q4 2013 - Q3 2014) divided by shares (fully diluted) representing earnings per share of THB 0.93. The industry average P/E ratio is 27 times (from August to October 2014). CBG's dividend policy is to pay no less than 40 percent of net profits after taxes and reserves.
As of 20 November 2014 Unit: M.Baht
Type Buy Sell Net
Institution 2,587.91 3,470.47 -882.56
Proprietary 3,096.27 3,838.50 -742.24
Foreign 8,198.12 8,544.40 -346.28
Individual 27,576.48 25,605.39 1,971.08
Total Trading Value 41,458.77 M.Baht
Vietnam index snaps falling streak, FLC in focus
Vietnam's benchmark VN Index rallied from a three-week low to close up 0.84 percent on Thursday on heavy volume, but a third of total trade was in
penny stock FLC Group Co.
Shares of property company FLC jumped 6.5 percent to 13,100 dong ($0.61), the highest close since Sept. 8, with volume surging to more than 50 million, about a third of the number of shares that changed hands on the stock exchange.
FLC's price-to-earnings (PE) ratio stood at 6.93, about half of the exchange's average PE of 12.96.
Blue chips moved range-bound, mostly towards the upper side as investors picked battered shares after two strong falls that dragged down the index to its lowest close since Oct. 28 on Wednesday, while mixed views on an imminent trade limits in stocks weighed on liquidity, analysts said.
Here is a snapshot of the VN Index at the close
VN Index 593.32
PREV. CLOSE 588.35
% CHANGE 0.84%
SE Asia Stocks-Most down on China data; Indonesia off 7-week high
Most Southeast Asian markets on Thursday ended lower as investors cut their risk exposure amid worries on data that signalled a further loss of momentum in China's economy, with Indonesia leading the decliners.
The China flash HSBC/Markit manufacturing purchasing managers' index showed factory output contracted in the world's second-biggest economy for the first time in six months.
Indonesian shares slipped 0.67 percent, off its seven-week closing high hit in the previous session, as shipping company PT Trada Maritime Tbk plummeted 24.9 percent after the country's stock exchange lifted its trading suspension since June 6.
Outflows also took the shine off Singaporean shares after hitting a two-month high on Wednesday, and Malaysia dipped 0.12 percent on foreign net selling of 48.43 million ringgit ($14.39 million), according to exchange data.
Thailand's SET Index also headed south with a 0.56 percent fall, while offshore buying into Philippine shares cushioned a sharp drop in the country's oldest conglomerate Ayala Corp following an overnight top-up replacement at discounted price.
SOUTHEAST ASIAN STOCK MARKETS
Market Current Prev Close Pct Move
TR SE Asia Index* 423.35 425.00 -0.39
Singapore 3315.60 3334.56 -0.57
Kuala Lumpur 1822.29 1824.39 -0.12
Bangkok 1568.68 1577.55 -0.56
Jakarta 5093.57 5127.93 -0.67
Manila 7268.95 7269.49 -0.01
Ho Chi Minh 593.32 588.35 +0.84