FBMKLCI
1774.94 +4.14pts (+0.23%)
Volume 1.505b Value 1.746b
1) The KLCI opened higher behind the stronger US market
overnight after Lawrence Summer bowed out of the race to lead the Fed Reserve
but earlier gains were erased as investors continued to take profit just ahead
of the FOMC meeting tonight. In the regional market, bourses were weaker as
SHCOMP -2.05% fell the most in 2 months after FDI numbers trailed economist
estimates and money-market rates rose, HSI -0.31% fell slightly following the
weaker global sentiments. In the local market, profit taking continue to set in
while the Healthcare stocks outperformed in the market, namely HOVID +3.63%,
TMCLIFE +6.49%, STEMLIFE +1.31%. Market breadth was positive with gainers
leading losers by 443 : 308. Futures closed 1765.5pts (9pts discount).
2) Heavyweights : GENTING +1.4% RM10.14, MAYBANK +0.59%
RM10.18, KLK +1.63% RM22.38, UEMS +4.43% RM2.59, DIG +0.82% RM4.87, BAT +1.05%
RM63.06, IHH +0.71% RM4.20, GENM -0.90% RM4.36.
3) DBT : CSL 3.8mil @ RM0.23 (15% premium), TGOFFS
3.479mil @ RM0.645 (1.052% PUC @ RM4% premium), UEMS 1.3mil @ RM2.43 (6.1%
discount).
4) Situational:-
FOCAL +36.264% RM1.24 - Eco World Development Holdings
have signed a conditional share sale agreement with various shareholders of
Focal Aims Holdings to acquire 65.05% stake in the company for RM230.69 million
or RM1.40 per share.
GUH +10.76% RM
1.44 - Stock price rose after the company proposes to undertake a bonus issue
of up to 92,707,032 new ordinary shares of RM1.00 each in GUH on the basis of
one (1) Bonus Share for every two (2) existing GUH Shares held on an
entitlement date to be determined later.
5) Sunway Berhad :
Announced that the Urban Redevelopment Authority of Singapore had on 12
September 2013, awarded a land parcel at Mount Sophia, known as Land Parcel
875 for a 99-year lease term at S$442.28
million ( approximately RM1.132 billion) to Hoi Hup Realty Pte Ltd, Sunway Developments
Pte Ltd ("SDPL") and S C Wong Holdings Pte Ltd , following a
successful tender for the Land jointly submitted by the parties. SDPL is a
wholly-owned indirect subsidiary of Sunway. Hoi Hup, SDPL and S C Wong had on
16 September 2013, incorporated a joint venture in the name of Hoi Hup Sunway
Mount Sophia Pte Ltd on a 51:30:19
equity ratio to undertake a residential development on the Land. Hoi Hup &
SC Wong are companies incorporated in Singapore. The completion period of the
Proposed Project shall be 60 months or earlier, commencing from 12 September
2013 : +ve . It is expected to contribute positively to the earnings of Sunway
Group from the financial year ending 31 December 2015 onwards. Earnings
visibility for Sunway remains strong given it's unbilled sales of RM2.2b and
construction OB of cRM4b. It's reasonably cheap valuation and expected strong
take-up of Sunway Iskandar make it an attractive Iskandar proxy. Sunway is also
expected to be one of the key contractors for the MRT 2 construction -
Accumulate.
6) Market : likely to continue its consolidation mode on
lower volume ahead of FOMC decision on Wednesday.
