FBMKLCI
1796.38 -0.82pts (-0.05%)
Volume 2.216b Value 2.453b
1) The KLCI closed flat after trading within a 10pts band
today following the mixed negative US market overnight. Overall market saw some
bargain hunting rebounding from intraday low of 1790.99 (-6.21pts) before late
selling at auction ensured index closed marginally lower. In the regional
market, bourses swung between gains and losses today as the HSI-0.41%,
SHCOMP-0.28% and NIKKEI -2.38% closed lower while the ASX 200+1.01% closed
noticeably higher as Iron ore players gained. In the local scene, selective
O&G related stocks rebounded today after a severe selldown over the past
week, as UMWOG +5.80%, ALAM +4.76%, PERDANA +0.60% RM1.66. Market breadth was
negative for a 3rd session as losers beat gainers by 652 : 226. Futures closed
at1791.5 (5pts discount).
2) Heavyweights : CIMB-1.95% RM6.53, GENTING -0.76%
RM9.13, PETGAS -0.74% RM21.20, RHBCAP -2.02% RM8.73, BAT +3.77% RM67.60,
MISC+3.03% RM6.79, MAYBANK +0.51% RM9.68, GENM +1.23% RM4.09.
3) DBT : IRIS 5.241mil @ RM0.385 (11.5% premium), VERSATL
3.668mil @ RM0.55 (3.31% PUC @ 8.4% discount), TIGER 3.1mil @ RM0.14.
4) Situational:-
MRCB +0.66% RM1.51 - Yesterday, MRCB made an announcement
that they had accepted the contract award for the construction of a 30-storey
JLand Tower at Komtar JBCC, Jalan Wong Ah Fook, Johor Bahru for a total
consideration of RM197.6m and the construction period for the contract award
spans over 24months which is expected to be completed by November-2016.
5) CBIP : Group announced that Modipalm Engineering Sdn
Bhd, a wholly-owned subsidiary had on 8 Sep 2014 and 13 Oct 2014 entered into 2
contracts with subsidiary companies of the Prosper Group, namely Vanimo Green
Palm Oil Mill Limited and Merchong Palm Oil Mill Sdn Bhd - a) with Vanimo Green
Palm for the design, manufacture, supply, install, testing and commissioning of
civil, mechanical and electrical works for a 60MT/hour Modipalm Continuous
Sterilization palm oil mill in Papua New Guinea worth RM57m, b) with Merchong
Palm Oil Mill for the design, manufacture, supply, install, testing and
commissioning of civil, mechanical and electrical works for a 60MT/hour
Modipalm Continuous Sterilization palm oil mill in Malaysia worth RM48.5m. The
total works worth RM105.5m are expected to contribute positively to the
earnings of CBIPH Group for the financial years ending 31 December 2015 &
2016; +ve. Although we continue to like CBIP's business prospects, the
potential tax impact from the expiry of its pioneer tax status in Feb 2015 is a
concern. The long-term earnings growth may also be affected after 5 years due
to potential limit by Indonesia on ownership of plantation land. Catalysts
ahead include patent approval and commercialization of its zero-discharge mill;
Hold for now.
6) Market: Key
market indicators remain bearish, reflecting the current lack of market
confidence, even though we are well into the oversold territory. The near-term
support remains at the 1,780 level, while we anticipate a potential rebound as
the week progresses, barring further shocks from abroad.
