FBMKLCI
1798.13 +0.16pts (+0.01%)
Volume 2.127b Value 2.678b
1) The KLCI rose to a high of 4.81pts before closing flat
today inline with the flattish US market overnight just before they celebrate
Thanks Giving this Thursday. In the regional market, bourses were sideways as
well even after Goldman Sachs upgraded outlook for HK stocks today, HSI -0.01%,
SHCOMP -0.14% were flat today; while NIKKEI -0.67% continue to lose grounds
behind the stronger Yen. In the local market, volume picked up at auction time
as the CI was faced with the semi-annual MSCI rebalancing where YINSON +3.27%,
GTRONIC +6.00%, SCIENTEX +2.51% closed at the high while IJM -2.95%, GENM
-4.65%, BJTOTO -4.22% were some of the names that got hit down. Market breadth
was negative with losers beating gainers by 467 : 347. Futures closed 1800 pts
(2pts premium)
2) Heavyweights: GENM -4.65% RM4.10, SKPETRO -2.33%
RM4.18, IHH -2.88% RM4.04, PETGAS -1.71% RM22.92, PCHEM -1.34% RM6.61, TENAGA
+2.17% RM9.85, CIMB +1.59% RM7.63,
3) DBT: BAHVEST 6.4mil @ RM1.25, TROP 6mil @ RM1.27,
EVERGRN 4.052mil @ RM0.4720.
4) Situational:-
MBSB +2.34% RM2.62 - MBSB plans to raise as much as
RM3.0b from the exercise, with the first tranche slated to bring in as much as
RM495.0m. RHB Investment Bank is the sole principal adviser, lead arranger and
lead manager for the exercise. The MBSB issue, which has a 15-year life span,
is being marketed as the world's first structured covered sukuk Murabahah
programme, which will see the debt papers being backed by receivables purchased
by MBSB's special purpose vehicle (SPV), Jana Kapital Sdn Bhd.
5) BARAKAH
FYE 9/2013 Tover
RM298.9m Net RM41m EPS 8.5sen
In line with
prospectus (f) RM38m
For the financial year ended 30 September 2013, the Group
achieved a total turnover of RM298.90 million and a profit before taxation of
RM57.55 million, which is an increase of approximately 48.00% and 45.87%
respectively from the corresponding preceding year. The pipeline and
commissioning services segment and the installation and construction services
segment, contributed approximately 59.11% and 40.89% respectively towards the
Group's turnover for the financial year ended 30 September 2013.
The increase in the turnover generated from P&C of
approximately 27.41% during the current financial year was due to higher number
of projects being awarded by several major oil companies, compared to the
corresponding preceding year.
Turnover from construction and installation was even more
dramatic, up approximately 93.11% from the corresponding preceding year mainly
due to the Group being awarded several barge chartering contracts as well as
transportation and installation project during the current financial year.
The market is expecting the group to secure Package A of
Petronas Pan Msia TNI contract which would be a major game changer for the
group and increasing its profile significantly. A further appreciation in its
price will depend on Barakah's ability to secure the TNI contact mention which
could signify more in the pipeline. HOLD
6) Market - KLCI remains range bound with events such as
today's MSCI rebalancing presenting opportunities to accumulate companies at
attractive levels, Gent Msia, BJToto, Dialog, SKPetro and trading buy on MMC
