FBMKLCI
1603.36pts +16.24pts
(+1.02%) Volume 2.558b Value RM 2.421b
1) The KLCI rose +1.02% today inline with the stronger
global market after the US staged its 2nd biggest rebound for the year amid
Chinese optimism. Regional bourses were mostly stronger today led by the NIKKEI
which surged 7.71% today after Japan Shinzo Abe spark hopes on more stimulus,
HSI +4.10%, SHCOMP rose +2.29%, ASX +2.07%, STI +1.41%. TECHNOLOGY +1.81% index gained the most grounds today
led by GTRONIC +3.27%, UNISEM +4.30%, JCY +2.25%. Market breadth was positive
as gainers outpaced losers by 666 : 228. Futures closed at 1586pts (17pts
discount).
2) Heavyweights :
PBBANK +1.23% RM18.08, DIGI +2.12% RM7.35, GENM +3.27% RM4.10, AMBANK +4.40%
RM4.50, TENAGA +0.90% RM11.12, SKPETRO +4.59% RM1.82, MISC +2.31% RM8.40, CIMB
+1.05% RM4.77.
3) DBT: MAHSING 27mil @ RM1.31 (1.12% PUC), SUNREIT
17.5mil @ RM1.52, DELEUM 5mil @ RM0.95
4) Situational:-
TM +1.23% RM6.54 - Telekom Malaysia Bhd has entered into
a five-year service agreement with Bank Simpanan Nasional (BSN) for a new
converged network transformation project. Under the agreement, TM will deliver
wide area network (WAN) services connecting 413 BSN branches nationwide. The
new services will cover both connectivity and managed ICT services for BSN's
banking operations. Besides the WAN services, TM is also supporting BSN's
telepresence infrastructure with TM's telepresence exchange services,
delivering high definition quality videos for video-conference meetings. The
project is now 40% complete and is expected to be rolled out in March next year
5) Magni Tech
1Q Jul 2015 Tover
+9.4% RM193.8m Net +54.5% RM15.6m EPS 14.3sen
11.6% above
cons(f) RM55.9m
The garment segment accounted for about 84.8% of Group's
revenue for the financial period.
Revenue for the current quarter increased by 9.4% as compared to the
preceding year corresponding quarter mainly due to higher sale orders received
from the garment business by 11.2%. PAT for the current quarter increased by
54.5% mainly due to higher revenue and other operating income, and lower cost
of sales on garment business.
The Company proposes to undertake a proposed bonus issue
of up to 54,243,950 Bonus Shares on the basis of one (1) Bonus Share for every
two (2) Magni Shares held by the entitled shareholders of the Company on the
Entitlement Date.
Trading at current year PE of 8.4x, valuations appears
fair given the overall slow down experienced by the retail industry.
6) Market - The KLCI will continue to take the cue from
the main developed markets but likely to meet significant resistance ard the
1652pts.
