FBMKLCI
1847.76 -1.45pts (-0.08%)
Volume 1.976b Value 2.052b
1) The KLCI traded and closed in the red for a 2nd day
despite the stronger US market overnight which gained amidst Fed's Janet
Yellen's dovish statement to maintain low interest rates; Sentiments were also
better as Russia started withdrawing troops from the eastern border after the
summit with European leaders yesterday. In the regional market, major bourses
were stronger after Chinese PMI manufacturing data reported higher activity in
March (50.3 actual vs 50.2 prior); HSI closed at +1.34% above & SHCOMP
+0.70%. In the local scene, TECHNOLOGY +2.95% index outperformed the market
significantly after gains from GTRONIC +7.84%, GHLSYS +9.77%, GPACKET +3.29%,
UNISEM +2.91% boosted the sector index. Market breadth was positive with
gainers beating losers by 446 : 348. Futures closed at 1851.5 (4pts premum).
2) Heavyweights: PCHEM -1.59% RM6.80, IOICORP -1.25%
RM4.74, PPB -1.92% RM16.30, SIME -0.53% RM9.26, GENM -0.95% RM4.16, AXIATA
+1.04% RM6.74, PETGAS +1.68% RM24.20, SKPETRO +1.33% RM4.56
3) DBT: PWORTH 14.2mil @ RM0.18 (4.60% PUC @ 10%
discount), AFG 8mil @ RM4.38, DVM 8mil @ RM0.07
4) Situational:-
GBGAQRS +0.00% RM1.36 - Gabungan AQRS Bhd has secured a
RM42.55mil contract to carry out the piling and substructure work for several
projects in Tropicana Metropark, Subang Jaya. The group had accepted the letter
of award from RSP Architects Sdn Bhd, which is the architect for the client,
Tropicana Metropark Sdn Bhd and is expected to start on April 7 and the
completion date is August 2015.
MEGB +13.95% RM0.49 - Masterskill Education Group Bhd is
diversifying into the restaurant business in Hong Kong and China, with its
proposed acquisition of shares in Gayety Holdings Ltd for HKD0.40 a piece
totalling HKD47.2m. Gayety is listed on the Hong Kong Stock Exchange, and
operates a chain of Chinese restaurant in Hong Kong including Red Royalty
Banquet Restaurant and Plentiful Delight Banquet Restaurant.
5) SAPKencana
The company today announced the award of new contracts
and several extensions;
i) Awarded the Contract by Total E&P Congo, Republic
of Congo for the provision of its Semi-Tender Assist Drilling Rig for a period
of one year with an option for an extension of one year. Total Congo intends to utilise SKD Berani for
its workover and development drilling campaign offshore Republic of Congo. The
Contract will commence in April 2014 until March 2015 and is valued at
approximately USD108m
ii) Contract Extensions
Accepted an extension to its contract with Brunei Shell
Petroleum Company Sdn Bhd for the provision of offshore drilling rig and
services by its Semi-Tender Assist Drilling Rig for a period of two years
commencing April 2015 until March 2017 and is valued at approximately United
States Dollars Ninety Two Million USD92m.
Accepted an extension to its contract with Cabinda Gulf Oil Company Limited for the provision of Tender Assist Drilling
Rig.
Contract Extension 2 is for a period of two years
commencing August 2014 until July 2016 and is expected to increase the total
contract value by approximately USD164m
Accepted an extension to its contract with Chevron
Thailand Exploration and Production Limited for the provision of the Tender
Assist Drilling Rig "SKD T-12.
Contract Extension 3 is for a period of two years commencing March 2014
until end of March 2016 and is expected to increase the total contract value by
approximately USD90m.
+ve but expected.
6) Market - After yesterday's 1Q we expected index to
consolidate back down to around the 1830pts levels with focus on rotational
play in mid caps
