FBMKLCI
1792.21 -1.52pts (-0.08%)
Volume 2.415b Value RM2.073b
1) The KLCI ended marginally lower after trading positive
for most of the day as investors turned cautious following a weaker US market
overnight on possibility the Fed will reduce stimulus in September as data in
the US and Europe continue to improve. In the regional market, SHCOMP -0.87%
and HSI 0.01% were both lower on choppy trade while the NIKKEI -2.12% fell
sharply with exporters leading among declines. In the local market, water
related stocks saw ample liquidity as we saw strong volume in names such as
JAKS +3.92%, KPS +5.20%, SALCON +2.14%, PUNCAK+1.41%. Market breadth was
positive with gainers edging losers by 418 : 381. Futures closed 1798 (6pts
premium).
2) Heavyweights : GENTING -1.20% RM9.85, PETGAS -1.51%
RM20.74, GENM -1.83% RM4.29, CIMB +0.74% RM8.15, IHH+2.44% RM4.19, FGV+2.94%
RM4.55, PBBANK +0.46% RM 17.32, SKPETRO +1.60% RM3.80
GENETEC +33.33% RM0.14 -Engineering and design specialist
Genetec Technolgy has secured new orders worth RM12.1m from its existing
clients. Genetec said of the RM12.1m new order received, RM8.3m was from the
hard disk drive sector, RM1.7m from automotive sector and the balance from
other sectors. It posted a net profit of RM2.6m in the first quarter ended June
30, on revenue of RM39.7m
SCABLE +3.88%
RM2.14 - Stock prices saw plenty of activity after Sarawak Cable Bhd (SCB) is
believed to be the frontrunner to secure the 500kV Sarawak power transmission
line job worth some RM1bil. One of the reports stated that the decision on the
award of the 500kV transmission line job (transmission package worth about
RM1bil) would be announced soon following the completion of SCB rights and
bonus issue.
5) SUNWAY
Announce that Sunway it had, entered into a Share Sale
Agreement with Millennium Pavilion Sdn Bhd ("MPSB") for the purpose
of disposing 20% of the issued and paid-up share capital of Sunway REIT
Management Sdn Bhd to MPSB free from all
encumbrances, claims, charges, liens and equities and with all rights attaching
thereto at a total consideration of RM28m.
The purchase consideration is based on a price earnings
ratio of 10 times based on 2012 earnings. The shareholders of MPSB comprise
distinguished individuals namely Dato' Lim Say Chong, Mr Oh Kim Sun and Mr Ng
Sing Hwa with a wealth of experience in the property, banking and manufacturing
industries. With their extensive experience in the corporate world and wide
network of contacts, MPSB would be able to add value to SRM by providing
additional leads for property acquisition as well as strategic insights at
SRM's board level as MPSB will be granted a seat on the board of SRM.
The Proposed Disposal will enable the Group to raise cash
proceeds of RM28 million from the disposal consideration and realizes an
immediate gain on disposal of RM26 million.
6) Market - Maintain range bound trading with 1800pts a
psychological barrier especially ahead of Sept when the US is expected to
reduce stimulus.
