FBMKLCI
1767.38 -20.12pts
(-1.13%) Volume 1.859b Value RM1.909b
1)The KLCI slumped 1.13% as it broke below its 1770 support led by
TENAGA -3.35%, SIME -2.51% and MAYBANK -0.97% following the weaker Wallstreet
over the weekend on likelihood of the Fed's raising rates later this
year. In the regional scene, SHCOMP +3.35% rallied for a 5th session amid
more govt funded infra projects being awarded; NIKKEI +0.79% gained on
the weaker YEN against the dollar, while ASX +1.00% followed closely behind. In
the local scene, TECHNOLOGY -2.79% index lost the most grounds today weighed by
UNISEM -5.11%, JCY -3.33%, GHLSYS -5.17%, INARI -1.46% as investors take profit
on these outperforming names. Market breadth was negative today as losers
trounced gainers by 807 : 129. Futures closed at 1764 (3pts discount).
2) Heavyweights : TENAGA -3.35% RM13.24, SIME -2.51% RM8.53,
PBBANK -0.94% RM18.96, MAYBANK -0.97% RM9.17, DIGI -1.19% RM5.77, KLK -2.03%
RM22.20, SKPETRO -2.28% RM2.57, YTL -2.41% RM1.62.
3) DBT: AEON 9.6mil @ RM3.16, OMESTI 6.398mil @ RM0.5825 (1.65%
PUC), SEG 5.5mil @ RM1.30.
4) Situational:-
BARAKAH -1.77% RM0.83 - Barakah Offshore Petroleum has
received a letter of award from Sarawak Shell Bhd and Sabah Shell Petroleum Co
Ltd to supply equipment which would be used to ensure the smooth flow of oil
and gas. Barakah said on Monday the job, which involved the supply of
operational pipeline intervention gadgets and accessories, was awarded to its
unit PBJV Group Sdn Bhd and the duration of the contract was three years from
April 15, 2015, with an option to extend for a further year. The value of the
award will depend on the actual work orders to be issued by Shell from time to
time during its duration. Barakah said the operations would be carried out
offshore Sarawak and Sabah, mainly for the operational maintenance of oil and
gas pipelines. +ve remains one of the few O&G players that has in recent
time consistently been reporting contract wins. BOW
5)
DAYANG
1Q
Mar 2015 Tover +7.2% RM190m Net RM34.36m EPS
3.92sen
The
higher revenue in the current quarter as compared to the corresponding quarter
is mainly due to higher value of work orders received and performed in the
current quarter for the new Bardegg Baronia job that was awarded in November
2014. The Group’s associate, Perdana Petroleum Berhad, contributed approximately
5.4% to the profit before tax of the group for the current quarter or RM2.48m
which was 54% lower YOY. The comp has earlier ann a proposal to undertake a MGO
for all remaining Perdana shares @ RM1.55. The company has remaining
RM84m from its private placement for working cap/potential investments.
Annualised
results are 30% below cons(f) however offshore topside maintenance operations
is normally affected by bad weather at the beginning and the end of the year
and this factor has been taken into consideration.
The
Group has call out contracts estimated at about RM3.8 billion to last at least
until 2018 and an outstanding tender book of approximately RM800.0 million.
Hold
6)
Market – Domestic issues continue to plague the domestic market. The KLCI will
need to consolidate around current levels, failing which the market could slip
lower towards the next immediate support of 1720pts levels.
