Performance of KLCI’s 30 counters in 2018

I dissect the performance of each of the counters that comprises the Kuala Lumpur Composite Index.

Note that this illustration is purely based on share price movement and does not take into account the distribution of dividends or any other corporate exercise that may have affected share prices.

CIMB GROUP HOLDINGS BERHAD
  • Price at the start of the year: RM6.54
  • Price at 21.12.2018: RM5.65
  • Variance: (~14%)
HAP SENG CONSOLIDATED BERHAD
  • Price at the start of the year: RM9.64
  • Price at 21.12.2018: RM9.88
  • Variance: ~2%
PPB GROUP BERHAD
  • Price at the start of the year: RM17.28
  • Price at 21.12.2018: RM16.98
  • Variance: (~1%)
PUBLIC BANK BERHAD
  • Price at the start of the year: RM20.80
  • Price at 21.12.2018: RM24.68
  • Variance: ~19%
MALAYAN BANKING BERHAD
  • Price at the start of the year: RM9.66
  • Price at 21.12.2018: RM9.29
  • Variance: (~4%)
PETRONAS CHEMICALS GROUP BHD
  • Price at the start of the year: RM7.72
  • Price at 21.12.2018: RM9.20
  • Variance: ~19%
PETRONAS GAS BHD
  • Price at the start of the year: RM17.70
  • Price at 21.12.2018: RM19.04
  • Variance: ~8%
MALAYSIAN AIRPORTS HOLDINGS BHD
  • Price at the start of the year: RM8.70
  • Price at 21.12.2018: RM8.20
  • Variance: (~6%)
HONG LEONG FINANCIAL GROUP BERHAD
  • Price at the start of the year: RM17.46
  • Price at 21.12.2018: 18.85
  • Variance: ~8%
KLCC REAL ESTATE INVESTMENT TRUST
  • Price at the start of the year: RM8.12
  • Price at 21.12.2018: RM7.65
  • Variance: (~6%)
NESTLE (MALAYSIA) BERHAD
  • Price at the start of the year: RM102.60
  • Price at 21.12.2018: RM147.60
  • Variance: ~44%
GENTING BERHAD
  • Price at the start of the year: RM9.30
  • Price at 21.12.2018: RM6.27
  • Variance: (~33%)
DIALOG GROUP BERHAD
  • Price at the start of the year: RM2.51
  • Price at 21.12.2018: RM3.00
  • Variance: ~20%
DIGI.COM BERHAD
  • Price at the start of the year: RM4.90
  • Price at 21.12.2018: RM4.35
  • Variance: (~11%)
KUALA LUMPUR KEPONG BERHAD
  • Price at the start of the year: RM24.96
  • Price at 21.12.2018: RM24.20
  • Variance: (~3%)
HARTALEGA HOLDINGS BERHAD
  • Price at the start of the year: RM5.33
  • Price at 21.12.2018: RM6.26
  • Variance: ~17%
HONG LEONG BANK BERHAD
  • Price at the start of the year: RM17.10
  • Price at 21.12.2018: RM20.10
  • Variance: ~18%
PRESS METAL BHD
  • Price at the start of the year: RM5.39
  • Price at 21.12.2018: RM4.80
  • Variance: (~11%)
RHB CAPITAL BERHAD
  • Price at the start of the year: RM4.98
  • Price at 21.12.2018: RM5.30
  • Variance: ~6%
GENTING MALAYSIA BERHAD
  • Price at the start of the year: RM5.59
  • Price at 21.12.2018: RM3.04
  • Variance: (~46%)
AXIATA GROUP BERHAD
  • Price at the start of the year: RM5.46
  • Price at 21.12.2018: RM3.86
  • Variance: (~29%)
PETRONAS DAGANGAN BHD
  • Price at the start of the year: RM24.38
  • Price at 21.12.2018: RM26.00
  • Variance: ~7%
MISC BHD
  • Price at the start of the year: RM7.21
  • Price at 21.12.2018: RM6.15
  • Variance: (~14%)
IHH HEALTHCARE BERHAD
  • Price at the start of the year: RM5.87
  • Price at 21.12.2018: RM5.35
  • Variance: (~9%)
IOI CORP BHD
  • Price at the start of the year: RM4.53
  • Price at 21.12.2018: RM4.30
  • Variance: (~5%)
MAXIS BERHAD
  • Price at the start of the year: RM6.00
  • Price at 21.12.2018: RM5.41
  • Variance: (~10%)
TELEKOM MALAYSIA BERHAD
  • Price at the start of the year: RM6.20
  • Price at 21.12.2018: RM2.68
  • Variance: (~57%)
SIME DARBY BERHAD
  • Price at the start of the year: RM2.21
  • Price at 21.12.2018: RM2.35
  • Variance: ~6%
TENAGA NASIONAL BERHAD
  • Price at the start of the year: RM15.22
  • Price at 21.12.2018: RM13.48
  • Variance: (~11%)
SIME DARBY PLANTATION BERHAD
  • Price at the start of the year: RM5.57
  • Price at 21.12.2018: RM4.79
  • Variance: (~15%)

TO SUM IT ALL UP

Out of the 30 counters, 18 counters are in decline, while the other 12 are up.

Most oil and gas related counters are on the rise. However, the global geopolitical uncertainties together with the downtrend of crude oil prices may test the resilience of those counters in due course. On the other hand, chemical producers like Petronas Chemicals would benefit from lower crude oil prices.

With the exception of CIMB and Maybank, the finance and banking sector is held up pretty firmly, with Public Bank and Hong Leong Bank leading the way.

The telecommunication sector is in an overall slump. Telekom takes the cake for the biggest drop, in terms of percentage, of any counters listed in the KLCI by losing 57% of its value in 2018. Telekom has been affected by the new government’s policies; the call for cheap access to broadband services, among others. As for Digi, Maxis and Axiata, they are being affected by stiff competition amongst each other.

The Genting-related counters have experienced a sharp decline due to the dispute with Disney regarding the Fox theme park, the impairment of the promissory note issued by the Mashpee Wampanoag Tribe and also the rise in gaming tax, by the Malaysian government.

You may not be doing so well if you have made bets on the plantation sector. Shares of Kuala Lumpur Kepong Berhad, IOI and Sime Darby Plantation Berhad experienced a slight drop since the beginning of the year. This come as no surprise due to the decline in palm oil prices.

The consumer sector, represented only by Nestle, has experienced a stellar performance. The rise of its share price, over 40%, was due to the mid year strengthening of the Ringgit, which meant lower import costs of raw materials for its products. However, the value of Ringgit is on a decline. It would be interesting to observe how this would play out for Nestle.

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May 2018 Portfolio Report

Since the last update, March 2018 Portfolio Update, my portfolio has shrunk significantly; losing almost all the gains made in the past years. This is largely contributed to the events leading up to the election and post-election. Understandably, investors, especially foreign  ones, are jittery about a change of government; the first Malaysians have seen.

sarawak State Legislative Assembly
Sarawak State Legislative Assembly. Credit to http://www.thenational.ae

Companies seen to be close or somehow related to the former government were hit the hardest. Arguably, I hold shares in two of such companies: Ekovest and CIMB. I’ve sold SIME, without much of a gain or loss, to purchase Mahsing.

COUNTER COMPOSITION (%) AVERAGE PRICE LAST PRICE GAIN/LOST (%)
3A 6.53 1.18 0.945 (19.81)
AIRASIA 30.70 2.80 3.22 15.08
CIMB 26.17 5.78 6.12 5.60
DNEX-WD 9.69 0.201 0.135 (32.98)
EKOVEST 9.71 1.136 0.585 (48.53)
EVERGREEN 5.93 0.791 0.455 (42.54)
MAHSING 3.97 1.10 1.09 (1.19)
MALAKOF 3.18 0.917 0.875 (4.68)

Portfolio gain is at 6.29%.

If you have suffered the same fate as I did, try not to dwell in the past. I believe that market jitters would eventually succumb to the competency, accountability and transparency policies, championed by the new government. We can only hope that the new government will make good on its election promises.

As for now, the market is significantly cheaper, especially many mid cap stocks. Hence, how you act upon this will determined the success of your investment.

Looking forward
  1. Malakoff dividend (3.7 cents per share); ex date on 14.05.2018, payment date on 01.06.2018.
  2. Airasia dividend (12 cents per share); ex date on 12.06.2018, payment date on 13.07.2018.
  3. Evergreen dividend (1.38 cents per share): ex date on 30.07.2018, payment date on 17.08.2018.
  4. Mahsing dividend (6.5 cents per share); ex date on 12.09.2018, payment date on 27.09.2018.

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