FBMKLCI 1615.07
-5.86pts (-0.36%)
Volume 884.4mil Value RM1,170mil
1) KLCI fell for the 4th consecutive days as index
continued to drift lower ahead of general election while also tracking a weaker
regional which fell on reports China may introduce more policies to curb
property prices. Index pared its morning gain with losses accelerating after
midday to reach a low of 1612.66 (-8.27pts) led by GENTNG and GENM. Market
breadth was negative with decliners thumping gainers 435:211. Future closed
1607.5 (7.5points discount)
2) Heavyweights: GENTING-1.43% RM9.64, AXIATA-0.64%
RM6.23, DIGI-0.84% RM4.73, PBBANK-0.38% RM15.90, GENM-1.87% RM3.67,
MAYBANK-0.34% RM8.84, TENAGA-0.57% RM6.93, PETGAS-0.98% RM18.28
3) DBT: BJASSET 16.4mil @ RM0.83 (1.47% PUC, 4.6%
discount), ILB 3mil @ RM0.90 (1.685% PUC)
ARMADA+0.53% RM3.81: Bumi Armada Bhd unit has secured a
contract worth US$740mil (RM2.29bil) from India-based Oil and Natural Gas Corp
Ltd (ONGC) for a floating production storage and offloading (FSPO) vessel. The
company also noted that the delivery of the FSPO would be within 21 months from
the date of the award. The FSPO comes with a minimum storage of 510,000 barrels
of oil.
KOSSAN+2.78% RM3.33: Kossan Rubber Industries Bhd's
wholly-owned subsidiary Perusahaan Getah Asas Sdn Bhd has proposed to acquire a
22.6ha freehold industrial land in Selangor for RM35.37mil. The acquisition was
in line with the group's strategy to replenish its land bank to generate
long-term sustainable income and viability. The acquisition would be funded
through internal funds and bank borrowings.
5) KNM
KNM Group Berhad
announce that it has secured a
Letter of Award from Public Stock
Company TAIF-NK for the supply of Sulphur
Recovery Unit for the Heavy Residue Conversion Complex located at Nizhnekamsk,
Republic of Tatarstan, Russian Federation amounting to USD100m over 28 months
from date of the execution of contract.
+ve but still insignificant compared to their tender book
size of RM19bn. It latest corp development on its proposed listing of Borsig in
Singapore has faced delays and investors generally have lost patience with this
company on the delivery front with Peterborough financial close still
outstanding. Key delivery of some of their past promises in 2013 could help
change sentiment on this counter.
6) Market - News this evening of the JV between
Capitaland and IWH to build a mixed development township in Johor plus the
agreement to build a high speed rail link between KL-Singapore by 2020 should
continue to buoy property counters with exposure to Johor, incl Tebrau,
UEMLand, MahSing, SPSetia, IJM, Dijaya. Overall sentiment however will remain
subdued ahead of election.