FBMKLCI
1867.57 +4.77pts (+0.26%)
Volume 1.593b Value 1.716b
1) The KLCI trended higher today breaking its 5 days
losing streak as market were lightly traded after the US and Europe market
remained closed for a long weekend. In the regional market, bourses were mixed
as the SHCOMP -0.34% fell for the first time in 3 days weighed down by
industrial and materials albeit on lower than average volume; HSI -0.08% closed
flat while the NIKKEI gained +0.23%. In
the local scene, O&G related stocks rebounded after lagging behind the KLCI
for the past week as we saw relative strength in selective names such as
SKPETRO +0.73%, MUHIBBAH +4.56% RM2.75, KNM +9.02%. Market breadth was neutral
as gainers inched past losers by 366 : 364. Futures closed at 1868.5 (1pt
premium).
2) Heavyweights : PBBANK +0.90% RM20.06, MAYBANK +0.60%
RM9.94, DIGI +0.91% RM5.50, SKPETRO +0.73% RM4.10, PETDAG +1.63% RM23.68,
PETGAS +0.57% RM24.64, SIME -0.63% RM9.47, MAXIS -0.75% RM6.61.
3) DBT : PELIKAN
28.832mil @ RM0.702 (5.623% PUC @ 49.5% discount), IDMENSN 17mil @ RM0.15
(4.916% PUC @ 21.1% discount), MAYBANK 12mil @ RM9.90, EKOVEST 1.049mil @
RM2.80.
4) Situational:-
CYPARK 0.00 RM2.80 - Cypark Resources Bhd has accepted
two construction contracts worth a total of RM22.3m from Johor Land Bhd for
houses located in Johor Baru. The first contract was for the construction of 64
Begonia- type terraced houses. The second contract was for 48 Ballerina-type
terraced house in Bandar Dato' Onn in Johor Baru. The contract is for a period
of 15 months, and construction is expected to be completed by September 2015.
MPI -2.51% RM4.66 - Malaysian Pacific Industries Bhd
(MPI) will pay a total USD4.0m (MYR12.8m) to US-based Amkor Technology, Inc to
settle an ongoing patent litigation regarding the infringement of Amkor's US
patent. MPI said its subsidiaries, Carsem (M) Sdn Bhd, Recams Sdn Bhd and
Carsem Group have entered into settlement agreement with Amkor to also rescind
the exclusion order issued by the International Trade Commission (ITC) on April
4.
5) IJM : FY03/04
Rev+29% RM6b Net+97% RM829.6m EPS 59.06 Div 25
Core
earnings trail cons FY of RM568m
For 12 months yoy, higher revenue was recorded in all key
operating divisions. PBT was +69%, following increased profit contributions
from Construction, Property, Industry and Infrastructure divisions. Segment
wise - Construction division's revenue +15%, PBT+45%, Property revenue+60%, PBT
132%, Plantation revenue +33% .There were significant extraordinary items in
the year ( disposal gains of Port Kemaman RM125m, gains on additional equity
interest in CIDB Investures SB & Swarna Tollway RM267m, gain on stake held
in Radiant Pillar RM222m & impairment loss on JV concession assets RM176m).
The recent news that the government has granted the RM5bn turnkey and EPC
contract to IJMC-KEuro consortium for the construction of the West Coast
Expressway (WCE)is a plus . IJM will directly undertake RM2.8bn worth of works
while there will be an "open
tender" for the balance RM2.2bn that IJM can also bid for. Other upcoming
job opportunities may include the Kuantan Port expansion Phase 1, RAPID civil
works and Menara WarisanI. However, note that JM's share price has been running
and is now near it's peak.
6) Market : Barring external factors, market is expected
to consolidate sideways, marked with pockets of rotational play & profit
taking.
