FBMKLCI
1776.73 +24.71pts (+1.41%)
Volume 2,305mil Value RM4,063mil
1) Follow thru buying saw market gained for 2nd day
running as index ended at day's high led by gains in CIMB+3.6% and MAYBANK+3%.
Regional markets were also firmer after ECB president commented that interest
rates will be cut again if needed. Investors will look at upcoming China
exports, inflation for any sign on global growth. Iskandar related stocks led
by UEMLAND+10%, TEBRAU+2.8%, CRESNDO+6% and SUNWAY+7.3% were also firmer.
Market breadth was positive with gainers trashing losers by 717:153. Futures closed
at 1776 (0.5pts discount)
2) Heavyweights: CIMB+3.6% RM8.65, MAYBANK+3% RM10.28,
AXIATA+3.40% RM7.00, TENAGA+2.45% RM8.37, PBBANK+1.34% RM16.64, GENTING+1.7%
RM10.84, UEMLAND+10% RM3.28, AMBANK+2.48% RM7.04
3) DBT: DIJACOR 10mil @ RM1.55, GTRONIC 2.97mil @ RM1.83
(5.2% discount), BRAHIMS 2mil @ RM0.88
4) Situationals:
DAYANG+6.95% RM4.00: Dayang Enterprise Holdings Bhd has
secured a RM313.60mil contract from Murphy Sarawak Oil Co., Ltd to provide
maintenance services over a five year period. Group received the letter of
award for the contract to provide hook-up, commissioning and topside major
maintenance services for 2013 to 2018.
5) Alam Maritim: The Board of Alam Maritim Resources
Berhad announced that its wholly-owned subsidiary, Alam Maritim (M) Sdn Bhd,
was awarded an extension of contract by Petronas Carigali Sdn Bhd for the
provision of one (1) unit workboat. The Contract for the value of approximately
RM38.00 million (inclusive of catering, lodging and de-mobilisation costs) will
be effective from 9 October 2013 to 8 October 2014 is for a firm period of one
(1) year. The Contract is expected to contribute positively to the earnings and
net assets of AMRB for the financial year ending 31 December 2013 and beyond ;
+ve. This is Alam's 10th contract win YTD, bringing total amount to RM1.02b. We
still like Alam among the O&G small & mid caps for its undemanding
valuation at 10.5x FY13 EPS, strong earnings growth (recovery) driven by higher
activities across all sectors and potential value accretive corporate
exercises- Accumulate on weakness.
6) Market: is expected to continue its uptrend especially
with rotational play into laggards although the uncertainty over the opposition
parties' rally in the evening may dent sentiment in the later part of the day.