FBMKLCI
1788.66ts +2.27pts (+0.13%)
Volume 1.593b Value RM2.432b
1)The KLCI opened higher for the 3rd straight day but
quickly reversed to trade tightly between the a small 4 pts range before
closing just 2 pts above parity. The US market snapped a 3 days winning streak
as investors retreated after Fed reserve member urged to reduce stimulus
and Coca-cola's profit fell. In the
region, most of the market were flat as investors wait for Bernanke's Testimony
tonight, HSI +0.28%, SHCOMP -1.01%, NIKKEI+0.11%. O&G sector were active
with gains seen in ALAM+7%, PERDANA+9%, and PENERGY+6%. Market breadth was
positive with gainers leading losers by 482 : 323. Futures closed 1788.5
(parity).
2) Heavyweights : TENAGA +2.66% RM 8.85, MAXIS +1.76%
RM6.92, MISC +2.00% RM5.60, CIMB +0.35% RM 8.42, PCHEM -1.05% RM6.55, TM -1.30%
RM 5.29, IOICORP -0.71% RM 5.52.
3) DBT : EKOVEST 6.226mil @ 2.57 (2.038% PUC @ 10.05%
discount), SKPETRO 5.003mil @ RM4.0001 (2.5% discount), SEACERA 3.3mil @ RM0.58
( 3.07% PUC @ 12% discount)
4) Situational:-
TENAGA +2.66% RM8.85 - Tenaga Nasional Bhd has been
selected by the Energy Commission as the preferred bidder to develop the
1,000MW coal-fired power plant in Manjung, Perak. Tenaga will now enter into
negotiations in respect of the bid. The letter of award will be issued upon
successful completion of the negotiations. The proposed power plant is expected
to come online on 1 Oct 2017.
CBIP +0.69% RM2.88 - CBIP entered into a supply agreement
with Industrial Aceitera De Casanare Sucursal Colombia for a turnkey
construction of a 15t/hour continuous sterilization palm oil mill in
Buenaventura, Colombia for a total sum of US$3.4m (or RM10.7m).
5) HUAYANG : Q106/13
Rev-18% RM80.5m Net-25%
RM12.3m EPS 6.22s
Results
trails, making up only 14% of FY cons RM 89.7m.
YOY, on the Property side, lower Revenue & PAT due
largely to slower construction progress throughout the group and minimal
launches recognition from preceding & current quarters. Rev & PAT from
other operations consist mainly of rental income derived from the operation of
commercial properties under the "build, operate & transfer"
concession with local authorities. Qoq, PBT was lower by 29%. Total unbilled
sales as at the end of the quarter stood at RM530m ; Despite the slower Q1, we remain positive on
Hua Yang as we understand the management is still actively looking for pocket
landbanks in Klang Valley. Moreover, its FY14E sales target of RM613m will be
mainly driven by on-going projects OneSouth, Taman Pulai Hijauan and new
projects such as Section 13 (Shah Alam), etc. Note that Hua Yang does not
employ any DIBS scheme on its projects.
6)Market: Market direction is likely to be dependent on
Bernanke's semi-annual report on monetary policy and what he says regarding the
QE programs during the Q&A session with the US Congress tonight.