FBMKLCI
1847.36 -5.98pts (-0.32%)
Volume 1.676b Value 2.141b
1) The KLCI trended lower today, inline with the weaker
U.S market overnight as the weaker oil prices weighed on energy related names.
In the regional market, NIKKEI +2.73% bucked the trend after it resumed trading
while the rest of the region saw flattish trading with the HSI -0.29%, SHCOMP +0.03% and ASX +0.24%
closed mixed. In the local scene, profit taking continue to suppress the market
after a week-long winning streak was broken yesterday with CONSUMER -1.04% index
losing the most grounds dragged by heavyweights UMW -4.47%, BAT -2.19%, NESTLE
-0.98%, PPB -0.50%. Market breadth was negative today as losers outpaced
gainers by 438 : 378. Futures closed at 1853.5 (6 pts premium).
2) Heavyweights : SKPETRO -3.54% RM3.27, UMW -4.47%
RM11.10, CIMB -0.93% RM6.35, GENM -1.86% RM4.22, BAT -2.19% RM67.86, GENTING
-0.92% RM10.58, TENAGA +1.03% RM13.64, MISC +3.18% RM7.12.
3) DBT : TAKASO 3.111mil @ RM0.6181 (1.78% PUC), SCOPE
2.5mil @ RM0.25 (13.8% discount).
4) Situational:-
MHB -2.64% RM2.21 - Malaysia Marine and Heavy Engineering
Holdings Bhd (MHB) have secured RM350.0m contracts for the fabrication and
other associated works for two exploration and offshore production projects in
Peninsular Malaysia. The first contract was for the fabrication of well head
platform and its jacket, the connecting bridge as well as heavier jacket for
the central processing platform for the North Malay Basin Bergading Complex.
The second is the procurement, construction, hook-up and commissioning contract
for the Besar-A well head platform and its jacket as well as the associated
host tie-in work for Petronas Carigali Sdn Bhd. It is slated for completion
towards the end of 2015.
5) GOB : announced that it's wholly owned subsidiary
Taman Equine Industrial SB, had on Nov 4 entered into a conditional Proposed
SPA with Summit View Development Sdn Bhd for the proposed disposal of 2 parcels
of leasehold land in Daerah Petaling, Negeri Selangor measuring a total land
area of 15.56 acres, for a total cash consideration of RM142.35m. The Disposal
Consideration is expected to be utilised in the following manner - repayment of
bank borrowings RM35m, working capital RM104m & disposal expenses RM3m; The
proposed disposal represents a good opportunity for GOB to crystalise capital
appreciation of the Lands for cash. Based on the disposal consideration, group
would be able to realise a net gain of approximately RM85.2 m. GOB remains an
attractive alternative Penang mainland play, given its 350-acre landbank in
Batu Kawan neighbouring the proposed golf course and theme park land, as well
as its pipeline residential projects which will be put into the market this
year.
6) Market : We expect further consolidation as FBMKLCI is
approaching the overbought zone. However, strong US & local corporate
earnings and encouraging economic data should lend support to the local market
post technical correction. Market could trade between 1820-1860 points amid
lack of immediate catalysts.
