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Lunch break review – 6th Dec 2018

 

BURSA MALAYSIA (THU, 6 DEC 2018)

MID-DAY LUNCH BREAK REVIEW

 

 

 

BRIEF MARKET REVIEW:

The FBM KLCI was down 0.63% at midday break today, in line with the tumble at regional markets. At mid-day, the FBM KLCI lost 10.63 points to 1,677.64.

Losers led gainers by 499 to 194, while 1,176 counters traded unchanged. Volume was 1.16 billion shares valued at RM845.29 million.

Stocks across Asia slipped during Thursday afternoon trade, continuing a decline in markets worldwide ahead of a closely watched meeting by the Organization of the Petroleum Exporting Countries (OPEC).

OPEC and other top oil producing countries are set to meet later on Thursday in Austria, with a series of issues on the line. Chief among those is the discussion surrounding crude output policy.

A combination of underestimating how much oil Iran would be able to sell, along with continued record output from the U.S., has sent prices tumbling. November posted the biggest monthly drop in a decade.

 

STOCKS IN THE LIMELIGHT:

 

BERJAYA FOOD (RM1.35, +1.50%)

Shares of BERJAYA FOOD’s net profit grew 21% year-on-year in its second quarter ended Oct 31, 2018 (2QFY19) to RM7.03 million from RM5.81 million, which it attributed to its Starbucks cafes, especially the opening of new outlets. The company recommended a second interim dividend of 1 sen per share for FY19 to be paid on Jan 25, 2019.

BERJAYA FOOD closed at RM1.35 at mid-day on a high volume traded of 434k shares.


ASTRO MALAYSIA HOLDINGS (RM1.39, +7.75%)

Local media reported that lower content costs and royalty fees helped to lift ASTRO’s net profit marginally to RM153.21 million for the third quarter as of Oct 31, up 4.45% from RM146.68 million in the previous corresponding quarter.

Astro’s board has declared its third interim single-tier dividend of 2.5 sen per share, payable by Jan 4, 2019, for shareholders with equity in the company prior to Dec 20, 2018. The group has declared total dividends per share of six sen for the financial year ending Jan 31, 2019.

For the nine-month period ended Oct 31, Astro’s cumulative net profit declined 41% to RM342.18 million against RM583.44 million in the previous corresponding period. Cumulative revenue was almost flat at RM4.11 billion compared with RM4.14 billion.

ASTRO closed at RM1.39 at mid-day on a high volume traded of 23.9 million shares.

 

 

Prepared by:

Malacca Securities Quantitative Trading and Analytics Division

BO1-A-13A, Level 13A, Menara 2,

No.3, Jalan Bangsar, KL Eco City,

59200 Kuala Lumpur

TEL: 03-2201 2100 (General)

The Quantitative Trading and Analytics Division houses the elite data scientists, programmers and proprietary traders that work the proprietary algorithm trading desk of Malacca Securities. Join and network with us at our elite mPower Algorithm program, mPower Trading program and Elite Education courses.