FBMKLCI
1878.38 +1.77pts (+0.09%)
Volume 1.386b Value 1.712b
1) The KLCI traded in a tight band and ended in positive
territory today after DJIA reached yet another record high overnight. In the
regional market, bourses were negative after world bank downgraded global
economic growth with HSI, STI and AS30 closing in negative territory. In the
local market, trades were choppy as the TECHNOLOGY +0.72% index gained the most
grounds today carried by JCY +1.40%, UNISEM +2.19%, D&O +4.22%. Market
breadth was skewed to the positive as gainers beat losers by 484 : 316. Futures
closed at 1878.5 (parity).
2) Heavyweights : SKPETRO +3.21% RM4.17, TM +0.96%
RM6.26, BAT +1.36% RM63.86, PETGAS -0.81% RM24.50, DIGI -0.70% RM5.64, GENM
-0.93% RM4.25, PBBANK -0.19% RMN20.78, YTL -1.19% RM1.65.
3) DBT : PANTECH
10mil @ RM1.00, SEAL 1.7mil @ RM0.745 (18.2% discount), FURNWEB 1.5mil @
RM0.815
4) Situational:-
PUNCAK +6.09% RM3.31 - Puncak Niaga Holdings Bhd has
accepted the Selangor government's offer to take over its water assets to
facilitate the state's water restructuring exercise. Puncak Niaga had accepted
in principle the Selangor government's takeover offer for its 100.0% equity in
Puncak Niaga (M) Sdn Bhd (PNSB) and 70.0% equity in Syarikat Bekalan Air
Selangor Sdn Bhd (Syabas) for a net cash consideration of RM1.6b. The takeover
exercise will be done through Selangor government's wholly-owned subsidiary
Kumpulan Darul Ehsan Bhd (KDEB). The proposed takeover of PNSB and Syabas by
KDEB shall include the takeover of all assets and corresponding liabilities of
PNSB in relation to its concession businesses only.
5) SPSetia
1H 4/2014
Tover +12.2% RM1.6bn Net -9%
RM171m EPS 7sen
Div 4sen
33% below cons(f) RM505m
The 1H business segments for the current period to-date
are analysed as follows:- Property Development Revenue and PBT increased by 12%
and 8% respectively while revenue and profit from Construction and revenue and
PBT remain a small percentage of overall Group operations.
The Group achieved RM715 million sales during the second
quarter of FY2014. As at 31 May 2014, total Group Sales for the first seven
months of the current financial year totalled to RM3.2 billion. This includes
the Group's 40% share of the GBP257 million sales achieved by the residential
phase 2 launch of its joint venture project, Battersea Power Station, amounting
to RM558 million.
.
The Group's prospects going forward remained positive
with a strong cash flow position and a massive unbilled sales amount of RM11.2
billion. The property sector will remain challenging for the remaining periods
of FY2014 due to the various cooling off measures in place and expected rising
interest rate environment.
Hold as valuations are undemanding, factoring the exit of
its founder and possibility of further loss of key management people. Recent
inclusion into the new syariah list should see a build up in particular of GLC
funds.
6) Market - maintain thin range bound trading pattern for
rest of the week.
