FBMKLCI
1743.41 -4.11pts (-0.24%) Volume 1.613b Value RM1.805b
1) The KLCI dipped to a low of -15pts before closing at
just -4pts at 1743pts inline with the weaker US mkt overnight as investors
weigh weak economic data against the likely timeline of a rate hike. Region
bourses were mostly positive following the strong rebound by the SHCOMP +4.71%
following its slump on Friday, HSCEI gained +1.39%, HSI +0.63%. In the local
scene, CONSUMER index -0.41% lost the most grounds weighed by BAT -1.77%, PPB
-1.04%, ORIENT -2.89%, UMW -0.74% while PROPERTY index +0.61% found some
traction boosted by IOIPG +0.50%, GUOCO +11.01%, KSL +3.93%. Market breadth was
negative as losers beat gainers by 436 : 378. Futures closed at 1732.5 (11pts
discount).
2) Heavyweights : TM-3.98% RM6.99 , AXIATA -1.67% RM6.47, GENTING -1.87%
RM8.36, CIMB -0.70% RM5.63, BAT -1.77% RM60.90, RHBCAP -2.72% RM7.49, MAYBANK
+0.88% RM9.11, KLK +1.44% RM21.00.
3) DBT: KANGER 21.861mil @ RM0.1745 (4% PUC @ 16.3%
premium), SMTRACK 14mil @ RM0.13 (5.14%
PUC @ 19.2% premium), JAKS 2mil @ RM0.70
4) Situational:-
GTRONIC +0.33% RM5.97 - Globetronics Technology Bhd is
planning to increase its capital expenditure (capex) to RM70.0m this year from
the RM50.0m planned as at the end of last year. Group chief executive officer
said that the group aimed to soon release four high-tech sensors for 3-D
imaging smart devices, wearable, and mobile healthcare products. These sensors,
targeted for commercial production in the second half of 2015, will require a
higher capex than the original amount. The sensors will be finalised and
qualified by their customers in either July or August.
THPLANT -0.64% MR1.55 - TH Plantations Bhd has issued
RM1.0b of sukuk murabahah to parent company Lembaga Tabung Haji (LTH) to raise
funds for its subsidiaries to repay their bridging loans. The plantations firm
said that the RM1.0b sukuk was part of the sukuk murabahah programme of up to
RM1.2b in nominal value set up by its unit, THP Suria Mekar Sdn Bhd, with LTH.
RHB Investment Bank Bhd has been appointed as the principal adviser, lead
arranger, facility agent and lead manager for the sukuk programme.
5) ECM LIBRA
Proposes to undertake a distribution exercise to its
entitled shareholders of up to approximately RM320.10 million by way of cash
distribution or a combination of cash and distribution-in-specie of ordinary
shares and/or warrants of Eastern & Oriental Berhad to be implemented in
the following manner: (i) A proposed share capital reduction by ECMLFG equivalent
to approximately RM234.74 million or equivalent to RM0.88 per ordinary share in
ECM of par value RM1.00 each and
(ii) The remaining amount of up to RM85.36 million or
equivalent to RM0.32 per ECMShare held by way of a proposed special.
It also proposed share split involving the subdivision of
ECM Shares after the completion of the Proposed Distribution , to facilitate
the Proposed Share Consolidation.
The Proposals provide an opportunity for the Company to
redeploy excess assets to its shareholders and to reorganise its share capital
base to reflect its existing level of operations and asset base.
6) Market - Weakening RM towards the RM3.70/USD mark will
continue to set investors on a cautious mind set with a wait and see approach.
KLCI to remain in the current down trend bias with 1730pts the immediate
support level.
