ASEAN KEY DESTINATIONS
21 November 2014
The Straits Times Index (STI) ended +29.72 points higher or +0.90% to 3345.32, taking the year-to-date performance to +5.70%.
The FTSE ST Mid Cap Index gained +0.64% while the FTSE ST Small Cap Index gained +0.83%. The top active stocks were SingTel (+0.51%), UOB (+1.37%), DBS (+1.64%), Keppel Corp (+0.22%) and OCBC Bank (+1.16%).
The outperforming sectors today were represented by the FTSE ST Basic Materials Index (+1.70%). The two biggest stocks of the FTSE ST Basic Materials Index are Midas Holdings (+1.72%) and Geo Energy Resources (+3.02%). The underperforming sector was the FTSE ST Technology Index, which gained +0.16% with Silverlake Axis’s share price gaining 0.41% and STATS ChipPAC’s share price unchanged.
The three most active Exchange Traded Funds (ETFs) by value today were the IS MSCI India (+1.70%), SPDR Gold Shares (+0.34%), DBXT MSCI Singapore IM ETF (unchanged).
The three most active Real Estate Investment Trusts (REITs) by value were Suntec REIT (unchanged), Ascendas REIT (unchanged), CapitaCom Trust (+0.89%).
The most active index warrants by value today were HSI23800MBeCW141230 (+2.56%), HSI23000MBePW141230 (-14.29%), HSI24400MBeCW141230 (+6.00%).
The most active stock warrants by value today were DBS MB eCW150602 (+5.74%), UOB MB eCW150415 (+8.09%), KepCorp MBePW150330 (-2.86%).
Singapore Stock Market
*ST Index 3,345.32 +29.72 3,315.6 -18.96
Volume: 1,157.9M 1,117.2M
Value: $1,089.5M $1,038.9M
Gainers/Losers: 268/151 147/263
Daily Market Commentary (Securities)
21 Nov 2014
The FBM KLCI index lost 13.16 points or 0.72% on Friday. The Finance Index fell 0.64% to 16192.97 points, the Properties Index dropped 0.62% to 1394.43 points and the Plantation Index down 0.49% to 8195.37 points. The market traded within a range of 9.43 points between an intra-day high of 1817.56 and a low of 1808.13 during the session.
Actively traded stocks include NOVAMSC, JAG, PRIVA, SYSTECH, ESCERAM, KNM, GENETEC, MINETEC, SOLUTN and AAX. Trading volume increased to 1766.31 mil shares worth RM1659.75 mil as compared to Thursday’s 1644.23 mil shares worth RM1622.68 mil.
Leading Movers were MISC (+16 sen to RM7.40), IOICORP (+5 sen to RM4.60), SKPETRO (+1 sen to RM3.11), and UMW (+2 sen to RM11.26). Lagging Movers were PETDAG (-90 sen to RM17.44), FGV (-15 sen to RM3.24), CIMB (-16 sen to RM5.74), YTL (-4 sen to RM1.60) and GENTING (-20 sen to RM9.40). Market breadth was negative with 295 gainers as compared to 464 losers.
The KLCI closed 13.16 points lower to settle at 1809.13 points. The local bourse traded in the red for majority of the day, tracking losses in Japanese markets as Prime Minister Shinzo Abe dissolved parliament. Regionally, Asian markets were broadly positive, as investors reacted to overnight US equity gains on data showing broad U.S. economic strength.
Date As of: 21 November 2014
Description Volume Value Frequency
ETF 19,200 14,957,900 142
Stock 6,409,873,736 4,920,817,098,435 195,488
Warrant 11,073,000 775,501,700 614
Total 6,420,965,936 4,921,607,558,035 196,244
Thai bourse welcomes Vichitbhan Palmoil
BANGKOK, November 21, 2014 -The Stock Exchange of Thailand (SET), will list Vichitbhan Palmoil pcl, a crude palm oil manufacturer and distributor, on November 24, under the ticker symbol "VPO" in the Agro & Food Industry, Agribusiness sector. The company has a market capitalization at its initial public offering (IPO) of THB 2.54 billion (approx. USD 76.9 million).
SET Executive Vice President Chanitr Charnchainarong said, "Vichitbhan operates two crude palm oil plants in Chumphon, Thailand southern province, with a total production capacity of 180 tons of oil palm kernel per hour. The company also owns three subsidiaries in related businesses such as oil palm plantation, power plant fueled from production waste, transportation for palm oil and its by-products. VPO is one of Thailand's top palm oil exporter with its own channel for exports."
VPO has a paid-up registered capital of THB 940 million; consisting of 800 million existing common shares and 140 million newly issued shares, with a par value of THB 1.00. The company offered 236 million shares to the general public via IPO during November 14 and 17-18 at THB 2.70 per share, for a total raised fund of THB 378 million. The Quant Group Co., Ltd. is its financial advisor.
While Maybank Kim Eng Securities (Thailand) pcl is its financial advisor and underwriter.
Vichitbhan Managing Director Krisada Chavananand said we are delighted and honored to be listed on SET as this would be an important step to enhance our corporate image and financial position. The fund raised would be used partially for debt repayment and the rest would be used as working capital to further expand company business in the future.
VPO's three major shareholders after the IPO are Chavananand group (75.53 percent), Wichitphan Klaiubon (0.43 percent) and Sasomsap group (0.42 percent).
The IPO price has an equivalent to price per earnings ratio (P/E ratio) of 24.13 times, calculated by using the company's net profit in the past four quarters (Q4 2013 - Q3 2014) divided by fully diluted shares, representing earnings per share of THB 0.11 compared to SET's 12-month average P/E ratio of 16.60 times (November 11, 2013 to November 10, 2014). VPO's dividend policy is to pay no less than 40 percent of net profits its standalone financial statement) after taxes and reserves.
As of 21 November 2014 Unit: M.Baht
Type Buy Sell Net
Institution 7,781.57 5,518.98 2,262.58
Proprietary 5,348.72 5,934.16 -585.44
Foreign 11,309.38 11,264.66 44.72
Individual 35,741.35 37,463.22 - 1,721.87
Total Trading Value 60,181.02 M.Baht
Vietnam index drops 0.9 pct on strong selling
Vietnam's benchmark VN Index closed at its lowest level in more than three weeks on Friday as investors sold shares strongly after the central bank
introduced a cap on banks' lending for stock investment.
The index fell 0.89 percent to 588.03, the lowest close since Oct. 28, with 160 million shares changing hand, well above the five-day average of 146.7 million, based on Thomson Reuters data. Shares of several banks and securities companies ended down.
The central bank said from Feb. 1, 2015, it would cap bank loans for share investment at 5 percent of a bank's registered capital and only banks with bad debt under 3 percent of loans would be able to provide the credit.
"The new bad debt rule eliminates some banks from the lending list, while providing opportunities for some others,"
said Nguyen The Minh, a manager at Viet Capital Securities.
Pertrovietnam Gas , the country's largest listed firm, dropped 2.45 percent.
Ho Chi Minh City-based Eximbank dropped 1.74 percent at close, Saigon Securities fell 1.97 percent, Sacombank eased 0.52 percent while Military Bank stood unchanged.
Here is a snapshot of the VN Index at the close.
VN Index 588.03
PREV. CLOSE 593.32
% CHANGE -0.89%
SE Asia Stocks-Most up after upbeat U.S. data; Malaysia, Vietnam down
Most Southeast Asian stock markets rose on Friday after upbeat U.S. data on jobs, factory activity and home sales buoyed sentiment, while Vietnamese shares fell after the central bank issued a cap on bank loans for stock investment.
Vietnam witnessed a widespread offload in around 60 percent of equity heads on the exchange, closing at a new three-week low after its central bank said to cap loans for stock investment at a maximum 5 percent of the bank's registered capital, while tightening the toxic loan ratio requirement to 3 percent for qualified lenders.
Malaysian shares fell 0.7 percent, marking their second straight day of losses, led by Genting Bhd and CIMB Group Holdings Bhd.
Genting Bhd dropped 2.08 percent after the company, which controls Southeast Asia's largest casino operator, said on Friday its third-quarter net profit fell 23.6 percent, mainly on weaker performance by its Singapore gaming unit.
CIMB Group Holdings Bhd , Malaysia's second-largest bank, fell 2.71 percent.
The Philippines and Thailand Southeast Asia's top performers so far this year, advanced 0.1 percent and 0.67 percent, respectively, while Indonesia rallied from early selling to close higher 0.36 percent.
SOUTHEAST ASIAN STOCK MARKETS
Market Current Prev Close Pct Move
TR SE Asia Index* 425.78 423.39 +0.56
Singapore 3345.32 3315.60 +0.90
Kuala Lumpur 1809.13 1822.29 -0.72
Bangkok 1579.20 1568.68 +0.67
Jakarta 5112.04 5093.57 +0.36
Manila 7276.18 7268.95 +0.10
Ho Chi Minh 588.03 593.32 -0.89