FBMKLCI
1828.55 +6.49 pts ( +0.36%) Volume 1.69b Value RM2.05b
1) The KLCI traded higher & generally within a narrow
trading range throughout the day, recouping some of the losses recorded
yesterday. Region was mixed, as it weighed the weaker than expected trade data
from China and concerns that China would fail to meet it's growth target
against the Bank of Japan's maintaining it's record monetary easing. All
sectors recorded gains except for the Technology sector -0.7%, dragged lower by
losses in MPI -2.1% UNISEM -2.5%. Market
breath was positive, with gainers leading losers 416:354. Futures closed 1822.5
pts ( 6.05 pts disc).
2) Heavyweights:CIMB +0.6% RM7.07, BAT +0.4% RM59.50, DRB
+3.3% RM2.51, MISC +3.3% RM6.95, PPB +0.9% RM16.28, PGAS +2.3% RM23.50, BURSA -
1.6% RM7.58, GENTING-0.5% RM9.99, UMW-0.5% RM11.36.
3) DBT : GHLSYS 9.9m @ 0.6370 ( 18% disc to close) , PDZ
4m @ 0.125
4) Situational;
KIANJOO +6.2% RM3.41 : After Tokyo-listed Toyota Tshusho
Corp (TTC) indicated its interest to buy 51.0% of Kian Joo Can Factory Bhd for
a tentative maximum price of MYR3.74 per share. The offer from Toyota group's
trading arm is 13.3% higher than Aspire Insight Sdn Bhd's earlier offer of
MYR3.30 per share. TTC's offer is perceived to be a competing bid for Kian Joo.
If TTC succeeds in acquiring more than 33.0% of the company, a mandatory
general offer (MGO) may be triggered.
5) ASUPREM : announce that its wholly-owned subsidiary,
Astral Supreme Construction Sdn Bhd ("ASC") had received 2 LOAs from
the following parties (Gemawan Bina Sdn Bhd for RM57m & Permata Rebana Sdn
Bhd for RM48m for various housing development projects in Melaka ) to undertake
the sub-contract for design and build and associated works for a total contract
value of RM105m. The contract is for a period of 24 months, commencing March
2014 to March 2016; +ve, these projects are expected to contribute positively
to the future earnings and net assets of the Group for the financial years
ending 31 December 2014 and 2015. The
projects are expected to be funded via internal generated funds as well as
borrowings. Notwithstanding that, it has no immediate effect on the gearing of
the Group.
6) Market : Cautious trading is expected to continue into
the week, as concerns on the Ukainian political unrest & worries of China
exports easing remain. Trading range of 1800-1835 points expected to remain.
