FBMKLCI
1818.86 +8.18pts (+0.45%)
Volume 1.877b Value 1.770b
1) The KLCI saw sideways trading amid mild profit taking
thruout the session before selected names, SIME +3.26%, PETGAS +3.16%, TENAGA
+1.08%, propelled the CI to its day high at auction; this was following the
stronger US market which rallied on a better set of corporate earning but back
tracked after reports confirmed the first EBOLA case in NY. In the regional
scene, bourses were mixed as the NIKKEI 1.09% gained on the weaker Yen against
the USD while the SHCOMP -0.01% and HSI -0.13% closed flat on the weaker
property data in the Mainland. In the local scene, PLANTATION +1.66% index
gained momentum today following the stronger CPO prices which trended closer to
the RM2200 pmt level, strong gainers amongst the index were KLK +3.63%, IOICORP
+1.72%, FGV +3.17%, KULIM +2.95%. Market breadth was positive with gainers
outpacing losers by 625 : 254. Futures closed at 1812.5 (6pts discount).
2) Heavyweights : SIME +3.26% RM6.48, PETGAS +3.16%
RM22.20, TENAGA +1.08% RM13.00, KLK +3.63% RM21.08, IOICORP +1.72% RM4.73, CIMB
-1.71% RM6.29, MAXIS -3.11% RM6.53, GENTING -1.38% RM9.27
3) DBT : IRIS 21.625mil @ RM0.385 (1.59% PUC @ 14.9%
premium), VERSATL 22.837mil @ RM0.55 (20.641% PUC), NICORP 19.789mil @ RM0.125
(8.6% premium).
4) Situational:-
AIRPORT +5.38%
RM7.05 - Malaysia Airports Holdings Bhd has exercised its right of first
refusal to acquire the remaining 40% stakes in Istanbul Sabiha Gokcen
Uluslararasi Havalimani Yatirim, Yapim ve Isletme A.S. (ISG) and LGM Havalimani
Isletmeleri Ticaret ve Turizm A.S. which is currently owned by Limak Group for
RM1.18bn. MAHB, Limak and GMR had first formed a 20-40-40 consortium in 2008
for the development of the greenfield airport with the capacity of 25m
passengers, the company said in a statement here Thursday
KULIM +2.95% RM3.49 - Kulim Bhd will pay RM1bn in
dividends from the proceeds arising from the sale of its 48.97% stake in New
Britain Palm Oil Ltd (NBPOL) to Sime Darby Bhd. This works out to 78 sen per
Kulim share. Kulim said the dividends were expected to be paid on a staggered
basis over a period of two years to ensure a minimum stream of stable dividends
payment to shareholders, and to encourage longer term investment in Kulim
shares.
OCK +6.5% RM1.46 – The application for the proposed
transferred that was submitted on the 8th of August of 2014 has been approved
by SC under the Section 214 of capital market & Service Act 2007 (CMSA)
under the equity requirement for public companies. +ve with possible transfer by mid November.
5) PRKCORP
Company had, on 24 October 2014, received a letter from
PKNPk, on behalf of and together with Fast Continent, Cherry Blossom and Perak
Equity, requesting PCB to withdraw the Proposed SCR, subject to the SC’s
consent.
The Proposed Withdrawal is premised on the letter dated 20
October 2014 from Sime Darby Property Berhad’s (“SDPB”) to Affin Hwang IB,
informing that, SDPB will be voting against the Proposed SCR at the
Extraordinary General Meeting (EGM) of PCB to be convened in relation to the
Proposed SCR.
SDPB owns approximately 6.13% equity interest in PCB or
approximately 13.00% of the voting shares. Given SDPB’s intention to vote
against the Proposed SCR as mentioned above, if the Proposed SCR is to proceed
and the Company is to hold the EGM to consider the Proposed SCR, PCB will not
be able to satisfy the voting requirement.
-ve. Share price was trading near the RM3 prior to
announcement of SCR at RM3.90
6) Market: Expect lead from Europe and US to dictate the
local market with KLCI first resistance at 1830pts level. Possible rotational
play among laggards PCHEM, PENERGY, MHB, SALCON
