FBMKLCI
1865.20 -7.35pts (-0.39%)
Volume 1.022b Value 1.426b
1) The KLCI gapped down today after the US halted its
bullish run as investors took a breather at Midweek. In the regional markets,
bourses were generally weak today as the HSI -0.60% fell from its 5 months high
weighed down by casino operators and developers, SHCOMP-0.66% also fell after
the government plan to tighten lending requirements for some of the banks. In
the local scene, profit taking was seen across the board as PLANTATION index
-0.40% led in losses weighed down by heavyweights, IOICORP -1.54%, FGV -0.46%,
TSH -1.36% after the CPO commodity prices continue to trade around the RM2,400
levels. Market breadth was negative with losers beating gainers by 407 : 334.
Futures closed at 1867 (2 pts premium).
2) Heavyweights : PBBANK -0.76% RM20.90, TENAGA -1.15%
RM11.98, GENTING -1.70% RM9.83, IOICORP -1.54% RM 5.11, YTL -1.22% RM1.61, CIMB
-0.27% RM7.22, MAYBANK -0.20% RM9.85, MISC +1.49% rM6.10.
3) DBT : MEXTER
8mil @ RM0.10 (4.47% PUC), XINGHE 5.88mil @ RM 0.27, MARCO 3.55mil @ RM 0.015
4) Situational:-
ETITECH 0.00% RM0.11 - ETI Tech Corp Bhd and Hong
Kong-based Castel Engineering Ltd are jointly investing US$500m (RM1.61bn) to
set up a joint venture (JV) company in Malaysia to participate in renewable and
smart city projects. The two companies signed an MOU with the intention of
setting up the 50:50 JV company. ETI Tech said that it plans to venture into
providing renewable and smart city infrastructure and solutions to government
and commercial organisations initially in Malaysia and gradually expanding to
Asean countries, Europe and the US. The products include wind turbines,
photovoltaic, LED, SOLAR, energy efficiency, waste water treatment,
environmental protection solutions, satellite communication, intelligent
transportation system, government and enterprise application solutions, as well
as large scale smart city infrastructure construction projects.
5) Tambun Indah
Palmington Sdn Bhd , a wholly-owned subsidiary
acknowledged a letter of acceptance of offer dated 27 May 2014 from TPPT Sdn
Bhd in respect of the proposed
acquisition by the Purchaser of 27 parcels of development land located within
Mukim 15, District of Seberang Perai Selatan, Pulau Pinang totaling 209.54
acres from TPPT for a total purchase consideration of RM150m cash. Funding will
be via internally generated cash flow and bank borrowings.
The Subject Land is freehold and located adjacent to the
township currently developed by TI, known as Bandar Tasek Mutiara in the
locality of Simpang Ampat, Seberang Perai Selatan, Pulau Pinang.
+ve Continue to
benefit from current buzz around the Penang mainland developers. Valuation
remains undemanding with a prospective PE of 7.1x 2015. BOW
6) Market - Current pull back on thin volumes to continue
after a largely tepid quarter of results. Maintain immediate support around the
1850pts levels on the KLCI.
