FBMKLCI
1842.17pts +3.61pts (+0.20%)
Volume 1.733b Value 1.469b
1) The KLCI extended its winning streak to a 3rd day
despite the weaker U.S market and the weakening oil prices just before the OPEC
meeting tomorrow. In the regional market, bourses were stronger led by
financial stocks in the SHCOMP +1.43% and HSI +1.12% after these companies
reported a surge in brokerages and benefitting from the PBOC's interest rate
cut last Friday, ASX +1.15% was inline with the regional gaining 1.15% boosted
by mining heavyweights. In the local scene, CONSTRUCTION +0.99% index gained the
most grounds today led by GAMUDA +1.53%, IJM +1.64%, MUHIBBAH +4.66% today.
Market breadth however, was negative today as loser beat gainers by 452 : 321.
Futures closed at 1844 (2 pts premium).
2) Heavyweights : TENAGA +1.11% RM14.52, PBBANK +0.86%
RM18.60, MAYBANK +0.83% RM9.67, GENM +2.18% RM4.21, BAT +2.67% RM71.52, GENTING
+1.21% RM9.16%, TM -3.46% RM7.24, MAXIS -0.14% RM7.05.
3) DBT : SUNWAY 14mil @ RM3.36, JTIASA 3.695mil @ RM1.93,
FABER 3.5mil @ RM2.975 (17.5% premium),
4) Situational:-
KKB -1.21% RM1.63
- KKB Engineering Bhd's unit Harum Bidang Sdn Bhd has bagged a two-year
contract worth RM43.9m from CMS Infra Trading Sdn Bhd. KKB Engineering said the
contract is for the supply and delivery of concrete-lined mild steel pipes and
mechanical couplings. The company added the contract will contribute positively
to the company's earnings and net assets for the 2015 and 2016 financial years.
EITA +0.70% RM1.42 - EITA Resources Bhd's unit, EITA
Elevator (Malaysia) Sdn Bhd (EEMSB), has bagged a RM79.0m contract from Mass
Rapid Transit Corp Sdn Bhd (MRT Corp) to provide escalator and travelator
system for the latter's MRT in the Klang Valley. The company said the contract
is for the supply, procurement, installation, testing and commissioning of
escalator and travelator system for all underground stations under Package
ETS-U.
5) Dayang
9mth 09/2014
Tover +71% RM635.3m
Net +17% RM147.4m EPS 17.9sen
In line
with cons(f) RM198.4m
The higher revenue in the current period to date as
compared to the corresponding period to date is mainly due to higher revenue
from the new hook-up and commissioning contracts.
The PAT however grew only 17% due to slightly lower
profit margin contribution from work orders performed as compared to the
corresponding period. The Group's associate, Perdana Petroleum Berhad,
contributed approximately 9.9% to the profit before tax of the group for the
current period to date.
The Group has call out contracts estimated at about RM4.2
billion to last at least until 2018 with an outstanding tender book of
approximately RM800.0 million
Currently trading at a forward PE of 10.5x the lower end
of its historical band we recommend a buy with its visible earnings stream for
the next few years.
6) Market - Broad market likely to continue to drift
listlessly in low volume trading with no immediate catalyst on the horizon. The
KLCI will encounter resistance around the 1848pts level with support at
1806pts.
