FBMKLCI
1630.75 -0.79 pts ( -0.05%) Volume 1.20b Value RM1.85b
1) Trading was choppy at the early stages of the day as
the market weighed out the bailout options for Cyprus, the Federal Reserve's
pledge to continue it's stimulus package & data that showed China's
manufacturing is expanding at a faster pace this month. Construction +2.04% the
out-performing sector for the day, notable gains by MRCB +7.2%, MUHIBAH +15.8%,
IJM+1.0%, GAMUDA+1.1%. Market breath was positive, with gainers overwhelming
losers 461:224 . Futures closed 1623 pts ( 7.75 pts disc).
2) Heavyweights : IHH +2.3% RM3.48, UEMLAND+3.8% RM2.74,
DRB+1.9% RM2.59, BURSA+1.5% RM6.85, PPB+1.3% RM12.46, BAT-2.7% RM60.14,
GENM-2.6% RM3.38, GENTING-1.8% RM9.44, FGV-1.1% RM4.49
3) DBT : CSL 50m @ RM0.60 ( 4% PUC, 29 premium to close),
COMPUGT 30.8m @ RM0.0895
4) Situational:
MRCB +7.2% RM1.49: after Co received a LOI from the
government to upgrade the Klang Valley double-tracking (KVDT) system for cRM850m. The LOI was issued
by the Ministry of Transport last week to the MRCB-DMIA JV. This was part of
the National Key Result Area initiative. The KVDT line is from Rawang to
Seremban and Port Klang to Sentul, involving 150km of double tracking work.
5) FAVELLE FAVCO
Announced today that its wholly-owned subsidiary, Favelle
Favco Cranes (M) Sdn Bhd had received four purchase orders or Letter of Intent
for Offshore Cranes to be delivered from end 2013-1Q 2014. The 4 cranes will be
delivered to four customers, PT McDermott Indonesia, Hyundai Heavy Industries,
Kencana Marine Drilling and Labuan Shipyard & Engineering for an
approximate total sum of RM78.8m
6) Market - Two tier market has emerged over the past
week where situational/ second liners have continued to see trading interest
while institutions who have been side lined have resulted in blues moving in a
tight band. European concerns and GE 13 will ensure current pattern maintained
but this could provide a good opportunity in restructuring portfolio by
trimming the recent outperformers which are generally less liquid names.
