FBMKLCI
1785.65pts +4.50pts (+0.25%)
Volume 1.162b Value RM1.723b
1) The KLCI opened 4 pts higher led by the US market that
closed at record highs overnight following Bernanke's statement to remain
accommodative with QE, the local index eased in the afternoon before
pushing higher at the close with gains
seen in GENM, CIMB and KLK. Regional market led by SHCOMP -1.62%, HSI-0.75% as
investors took profit ahead of the release of China's economic growth data next
week. In the local market, PLANTATION +1.04% index stocks rose lead by IOICORP
+2.75%,KLK +0.74%, KULIM +1.14%, on the
back of falling inventoies and expected boost in exports from the upcoming
festive demands. Market breath was
positive with gainers beating losers slightly by 393 : 325. Futures closed
1789.5 (4pts premium)
2) Heavyweights : IOICORP+ 2.75% RM5.60, CIMB +0.48%
RM8.32, GENTING +0.80% RM10.06, SKPETRO +0.98% RM4.12, BAT +1.17% RM60.60,
TENAGA -1.03% RM8.65, MAYBANK -0.38% RM10.40, PBBANK -0.35% RM16.96
3) DBT : CSL 120.05mil @ RM0.30 (9.66% PUC @ 7.1%
premium), MICROLN 7.957mil @ RM0.60 (5.951% PUC), CRESBLD 6.5mil @ RM1.19
(4.07% PUC @ 9.2% discount), KINSTEL 6.071mil @ RM0.3418
4) Situational:-
THHEAVY +7.00% RM 0.84 - a local daily reported today
that THHEAVY has been in talks with Petronas to get its licence to manufacture
o&g cranes reactivated after being suspended when it was relegated into
PN17 in Feb 2010. Besides that, their JV partner is bidding for a RSC contract
worth US 500mil (RM1.58bil) and would expect an outcome by this month.
5) SAPURA KENCANA
Announced that its wholly-owned subsidiary, Crest Tender
Rigs Pte Ltd , has been awarded a contract for the Provision of Tender Assist
Rig Services for the tender assist rig SKD T-9
by PTTEP International Limited. PTTEPI intend to use SKD T-9 for its
Zawtika development drilling campaign offshore Myanmar.
T-9 Contract will be commencing in July 2013, the initial
operational period is approximately 300 days. The total T-9 Contract value is
expected to be USD 40,000,000.
+ve but does not
make a significant difference to its already impressive order book of over
RM20bn. HOLD as we think limelight for outperformance will now be on the
smaller players with M&A angles.
6) Market - Maintain range bound trading with focus on situationals
