FBM30 1491.46, +6.48 points (+0.44%), Volume 1,204mil, Value 1,016mil
1) KLCI flitted around overnight lvls the whole day before a surge in buying in select blues lifted index to close at day's high in last half hour of trading. Noticeable interest was seen in banks following several announcements by BNM,unveiling plans to develop a strong financial system with more flexible foreign shareholding in FIs, implementation of Basel III norms in phases from 2013 to 2019 and raise issuance of government bonds resulted in MAYBANK+1%, HLBANK+3%, AFG+2.1%, AFFIN+1.4% and select situationals: UEMLAND+3.9%, MMCCORP+1.6%, PPB+1.4. Market breadth was negative amid a relatively low volume with losers thrashing gainers 455:290. Futures closed 1495 (4 points premium).
2) Heavyweights: MAYBANK+1% RM8.45, GENTING+1.3% RM10.76, TENAGA+1.2% RM5.79, CIMB+0.7% RM7.00, HLBANK+3% RM10.86, PBBANK+0.5% RM13.26, PPB+1.4% RM17.10, UEMLAND+3.9% RM2.39, AIRASIA+1.1% RM3.70, YTL-2% RM1.51
3) DBT: ECOFIRS 20.3mil @ RM0.10, BJLAND 15.6mil @ RM0.95, UNICO5mil @ RM1.20
4) Situationals:
ENVAIR-17.2% RM0.265: Share price was under selling pressure in active trade after Carpet Raya Sdn Bhd director Deepak Jaikishan ceased to be a substantial shareholder in the loss-making company after emerging as s/h just early this month. A filing with Bursa Malaysia on Dec 21 showed that Deepak had disposed 6mil Envair shares in the open market on Dec 14.
CYPARK+2.3% RM1.36: Company expects to generate annual revenue of up to RM17mil from the sales of renewable energy (RE) upon full commencement of the RE park. Cypark said it had obtained Feed-in Tariffs (FiT) approval from Sustainable Energy Development Authority to supply 8MW and and 2MW of RE from solar PV and landfill biogas sources, respectively. With the approval, Cypark would be able to sign RE PPA with TENAGA for Fit concession periods of 21 and 16 years respectively for electricity generated from solar PV and landfill biogas.
5) Muhibah's 50:50 JV with Monadelphous Group Limited has been awarded a major contract valued at approximately AUD330 million (RM1.05bn)for the construction of an approach jetty and ship berth associated with the Wiggins Island Coal Export Terminal Pty Ltd's (WICET) Project at Gladstone in Queensland, Australia. The contract includes the construction of offshore plant and infrastructure including a 1.8km approach jetty and transfer tower platform, wharf, wharf conveyor including the drive and take up tower, berthing and mooring dolphins, ship access platforms, jetty conveyor and transfer tower. The work, which is part of stage one of the project, is scheduled to start immediately and be completed by first quarter of 2014. Stage one has a contracted annual coal export capacity of 27 million tonnes with fully developed terminal having an annual capacity of more than 80 million tonnes.
Comment: +ve as co expands marine related infra works into advanced countries such as Australia and adds to current infra orderbk of RM2.3bn. Trades at PER 7.5x-trading buy as stk has not recovered from 30% drop frm recent peak following APF receivership resolution and increase in OB recently.
6) Mkt - Expectations of improved US consumer confidence numbers tonight and higher personal spending growth tomorrow will spur confidence in mkts ahead of long Xmas break.
