FBMKLCI
1707.97 -3.32pts (-0.19%) Volume
682.5mil Value RM1,403mil
1) Markets were subdued ahead of holiday shortened
trading week and the upcoming GE13 which is slated for this Sunday. Lack of mkt
participants saw vol shrink and index drifting lower to end near day's low.
Regionals were, however, firmer after new coalition was formed in Italy and
expectation Central Banks will continue to support economies via monetary
easing. Market breadth turned negative with decliners thumping gainers 495:208.
Futures closed 1709.5pts (1.5points premium).
2) Heavyweights: IOICORP-1.59% RM4.96, CIMB-0.64% RM7.72,
GENM-1.34% RM3.67, MAYBANK-0.3% RM9.54, KLK-1.12% RM21.14, PBBANK-0.24%
RM16.36, GENTING+0.97% RM10.42, PETGAS+0.93% RM19.64
3) DBT: SPSETIA 45.20mil @ RM3.95 (1.84% PUC, 16%
premium), PMCORP 14.84mil @ RM0.13 (2% PUC), SANICHI 13mil @ RM0.08 (3.4% PUC)
4) Situationals:
ZECON-4% RM0.46: Zecon Bhd received a Letter of Award
from the Public Works Department for a project worth RM495 million for the
construction of Petra Jaya Hospital in Kuching, Sarawak. The contract sees
Zecon design and build a proposed 300 bed hospital. The Project will be on
going for a duration of 42 months.
5) Sunway Bhd : The Board
announced that Sunway Construction Sdn Bhd ("SunCon"), a
wholly-owned subsidiary of Sunway Holdings Sdn Bhd which in turn is a
wholly-owned subsidiary of Sunway, has on 29 April 2013, accepted a letter of
award worth RM222 million from Cititower Sdn Bhd [a joint venture company
between KLCC (Holdings) Sdn Bhd and QD Asia Pasific Ltd] for package 2
comprising, construction and completion of piling and sub-structure works as
well as associated works for the proposed mixed commercial development for Lot
185 and Lot 167(K) at Persiaran KLCC, Kuala Lumpur City Centre. The Proposed
Project is expected to commence upon handing over of site possession which is
to be determined later, with a construction period of 82 weeks. It is expected
to contribute positively to the earnings of Sunway Group from the financial
year ending 31 December 2013 onwards ; +ve. We continue to like Sunway and view
the group as an attractive proxy to Iskandar Malaysia with its 1858 ac landbank
in IDR (2nd largest IDR landowner after UEMLand). We believe that the positive
developments in Iskandar Malaysia, recent re-rating of Iskandar-focused
developers and potential listing of Iskandar Waterfront Holdings will re-rate
Sunway's share price.
6) Market: is likely to continue to be lacklustre with
the Labour Day shortened week and investors adopting a cautious stance ahead of
polling day. Accumulate Dialog, Gtronic, Perdana & MISC on weakness.
