FBMKLCI
1794.65 -4.04pts (-0.22%) Volume
2.317b Value 2.110b
1) The KLCI fell
for a 2nd straight day as the US market closed lower overnight after
minutes from the last Fed meeting signalled that the central bank could scale
back its stimulus program in the coming months. In the regional market, NIKKEI
+1.92% bucked the trend boosted by
exporters as Yen fell against all of its 16 major counterparts; while the rest
of the region traded in the red. SHCOMP -0.04% fell as well after the HSBC
flash PMI (50.4 vs 50.8 cons) fell to 2 months low. In the local market, profit
taking continue set in with plantation index losing the most grounds albeit the
strong CPO prices, with IOICORP -2.80%, FGV -1.32%, GENP -1.63% among the
biggest losers. Market breadth was negative with losers beating gainers by 519
: 258. Futures closed at 1787.5 (7pts discount).
2) Heavyweights: IOICORP-2.8% RM5.55, SIME-1.45% RM9.55,
SKPETRO-1.4% RM4.27, AXIATA-0.45% RM6.70, PETGAS-0.75% RM23.70, GENTING-0.59%
RM10.18, TENAGA+0.74% RM9.58, PPB+1.8% RM14.66
3) DBT: : BJLAND 70mil @ RM0.75 (1.4% PUC @ 7.4%
discount), PARKSON 8mil @ RM3.70, BAHVEST 4.15mil @ RM1.322.
4) Situational:-
DIALOG +1.00% RM3.02 - Dialog Group has signed a
memorandum of understanding (MOU) with Singapore-based Concord Energy Pte Ltd to assess the
feasibility of a planned crude oil and petroleum product storage terminal in
Pengerang, Johor. Dialog said the proposed terminal comes under a new phase of
the Pengerang deepwater petroleum terminal project there. Concord Energy is a
crude oil and refined products trading firm, according to Dialog's statement.
5) WCT : 9 mths 09/13
Rev+18% RM1.39b Net+18% RM141.2m
EPS 13.23s Div 3.5s
Results
in line, making up 73% of FY cons RM194.4m
For the 9 months, the Civil Engineering &
Construction div recorded +15% revenue and +27% operational profit. Both these
increases are attributable to higher contribution from the local division.
Revenue & operational profit was 24% & 8% higher from the Property
development and investment div, due to higher sales recorded from their
property launches. Qoq, Revenue was 13% lower while PAT and non controlling
interest was 28% lower.
The stock remains one of the sector laggards. However,
its share price could be revived once the bigger projects are rolled out, both
locally and overseas. The earlier indications of likely contract wins included
the c.RM1bn earthworks package for the RRI land and an RM800m-900m hospital in
Sabah (PFI scheme). These projects are in the advanced stages of tenders and
could be awarded by end-2013 - Hold.
6) Market: to consolidate as markets are held hostage by
tapering fears; plantation sector may see support from firming CPO prices and
news flow of continued weather induced
below average FFB harvest.
