FBMKLCI
1862.90 +6.29pts (+0.34%)
Volume 2.122b Value 2.268b
1) The KLCI bucked the trend today despite the weaker US
market which was dragged down by losses in the NASDAQ after employment data missed
estimates on Friday. In the regional market, bourses were saw selling pressure
in the overall market as the NIKKEI -1.69% and HSI -0.59% both closed in
negative territory; SHCOMP remained closed for Qing Ming and will resume
trading tomorrow. In the local market, the CONSTRUCTION+1.50% index was the
outperforming sector today as GAMUDA +3.58%, IJM +1.28%, MUDAJYA +2.60% gained.
Market breadth was however skewed towards the negative as losers beat gainers
today by 452 : 372. Futures closed at 1860 (3 pts discount).
2) Heavyweights:
Heavy-weights : BAT +1.6% RM59.66, DIGI +2.3% RM5.35, GENM +
1.2% RM4.24, TENAGA + 3% RM11.68, PPB + 1.6% RM16.34, PBBANK -2.5% RM20.28, POS
-2.3% RM4.68.
3) DBT : TROP
29.5m @ RM1.69 ( 3.7% prem to previous close, 2.1% PUC ), SOP 5.07m @ RM6.05 (
6% disc to market), AYS 3.4m @ RM0.305.
4) Situational:-
UZMA +1.84% 6.06 - Petronas has awarded a small field
risk service contract to EQ Petroleum Developments Malaysia (EnQuest) and Uzma
Energy Venture for the development and production of the Tanjong Baram field.
The field is located about 6km offshore Sarawak and the terms of the contract
stipulate that Petronas is the project owner while EnQuest and Uzma are the
contractors for this petroleum arrangement.
5) SIME
Sime Darby had entered into Share Purchase Agreements for
the disposal of its entire 75% equity interest in PDP to Malakoff Power Berhad
for a total cash consideration of RM300 million.
PDP is a licensed independent power producer under the
Electricity Supply Act, 1990, and operates the 440 megawatt gas-fired open
cycle power plant located at Tanjung
Gemok, Port Dickson, Negeri Sembilan, under a 'build, own and operate' basis.
The Plant commenced commercial operations in 1995 and is Sime Darby's sole
power generation asset in Malaysia.
The Plant supplies electricity to TNB under a 21-year PPA
expiring in January 2016.
Based on its audited financial statements for the
financial year ended 30 June 2013, PDP recorded a profit after tax of RM77.3
million whilst its net assets were RM221.5 million. The Proposed Disposal is in
line with Sime Darby's long term strategy to be a leader in its core businesses
of plantations, industrial equipment, motors, property and energy &
utilities.
The proceeds from the Proposed Disposal will be utilised
for working capital requirements of Sime Darby Group.
Sime Darby is expected to record a one-off estimated net
gain of RM56.3 million from the Proposed Disposal.
+ve but expected. HOLD
6) Market - Choppy trading to continue with the potential
upside from the next PNB RM10bn additional funds that could see the KLCI breach
the all time high of 1882 pts.
