Market Roundup | 8 Jan 2013

FBM   1688.91  -5.25 pts ( -0.31%)         Volume  1.027b         Value RM1.71b

 

1) The KLCI fell sharply at the opening, registering a drop of 11.9 points before recovering to trade the rest of the sessions in negative territory. There were little positives in the market, as the US braced for the start of their reporting season while the regional markets succumbed to profit taking after the recent run up. The Construction sector +0.34% was the only meaningful gainer, led by GAMUDA +1.3% & WCT+1.3% while the Plantation -1.25% & Technology-2.13% sectors underperformed. Market breath was negative, as losers overwhelmed gainers 423:305. Futures closed 1689 pts ( parity). .

 

2) Heavyweights: GAMUDA+1.3.% RM3.80, MAHSING+3.3% RM2.20, YTLPOWER+1.2% RM1.67, DRB+0.8% RM2.65, POS+0.8% RM3.58, IOICORP-2.7% RM5.05, UEMLAND-2.3% RM2.14, KLK-1.4% RM22.62, PPB-1.1% RM12.88, SKPETRO-1.6% RM3.03.

 

3) DBT : HUBLINE 16m @ RM0.06, ASTRO 5m @ RM2.985.

 

4) Situationals:

SCOMI  unch RM0.37 : after it's oilfield services unit Scomi Oilfields won a RM380m 3-year contract in Indonesia to provide drilling fluids & completion services. This is the first cooperation between Scomi and Total E&P Indonesia and will start in July 2013. 

SUNWAY unch RM2.43 : announced that it's unit Sunway Construction SB has secured a contract worth RM45m to design & build package 11 of the Legoland Water Theme Park in Johor. The project was targeted to be fully completed on or by 30 September 2013 with a construction period of 9 months. It is expected to contribute positively to group earnings for FY12/13 onwards.

5) SILK : announced that it's subsidiary Jasa Merin (M) SB has been awarded 2 contracts by Petronas Carigali SB for the provision of 2 AHT Supply Vessels. The contracts are effective from Jan 1 2013 up to Dec 31 2017, for a firm period of 5 years & both contracts can be extended for a further 1 year period at the discretion of Petronas Carigali. The contract in total, valued at approximately RM251.85m for their primary terms, are expected to contribute positively to the group earnings and assets for FY07/2013 and beyond; +ve, the O&G division will continue to be the focus of the group. Further growth expected as oil majors spending in the sector expected to continue.