FBMKLCI
1697.77 -0.76pts
(-0.04%) Volume 881.6mil Value RM1,438mil
1) KLCI ended marginally lower after paring its gains
from day's high of 1702.88 (+4.35pts) as index were held up by gain in
plantation names SIME and IOICORP. Index bucked regionals which saw sentiment
turn negative after China's GDP and Industrial Productions both came in below
estimates. Market breadth was negative with decliners trouncing advancers
519:199. Futures closed 1689pts (9pts discount).
2) Heavyweights: GENM-2.43% RM3.61, PBBANK-0.37% RM16.24,
IHH-1.86% RM3.69, PETDAG-2.05% RM22.98, CIMB-0.39% RM7.68, SIME+1.72% RM9.46,
IOICORP+2.05% RM4.97, AXIATA+0.31% RM6.73
3) DBT: PMCORP 14mil @ RM0.12 (1.8% PUC), COMPUGT 10mil @
RM0.105 (40% Premium), DIJACOR 4.5mil @ RM1.50 (0.53% PUC)
4) Situationals:
SIME+1.72% RM9.46: Sime Darby Bhd has entered into two
equity purchase agreements worth RM25.62mil with Beijing Yintong Guoji
Investment Advisory Co Ltd. The deals, inked through indirect wholly-owned unit
Sime Darby Overseas (HK) Ltd, is for the acquisition of a 51% stake each in
Weifang Wei Gang Dredging Project Co Ltd (WF Dredging) and Weifang Wei Gang
Tugboat Services Co Ltd (WF Tugboat) for RM18.09mil and RM7.54mil,
respectively.
5) BINA PURI
Its Thai subsidiary, Bina Puri (Thailand) Ltd., accepted
the Letter of Award from Thai Consumer Distribution Centre Company Limited to
undertake the project known as the "Proposed design and build Unilever
Distribution Centre 2, Thailand at Ban Klong Prueng, Suwinthawong road KM63,
Minburi, Bangkok, Thailand" for contract sum of THB808.80 million
(approximately RM80.88 million). The construction period shall be within 14
months.
With the award, the Group's current unbuilt book order
stands at RM1.86 billion as at to date.
Despite a sizeable order book relative to its market cap
RM88m, the company continues to under perform due to its low profit margin.
6) Market - Choppy markets to continue as GE 13 continues
to be a main distraction coupled with lower than expected China GDP numbers and
on going tension in Korea. KLCI to maintain range of between 1680-1700pts.
