FBMKLCI
1701.24 -21.25pts (-1.23%)
Volume 2.287b Value RM2.682b
1) The KLCI tumbled
21.25pts today on persistent selling after the US closed weaker
overnight and inline with weaker ASEAN region which saw STI-1.6%, Jakarta-3.7%,
and Thai -3%. Markets were generally lower after the US state secretary said
that the nation would retaliate to Syria's chemical attack. SHCOMP +0.34%
closed marginally higher behind better industrial profit number for July; In
the local market, stocks were beat down for the third session in 2 weeks,
big/mid caps stocks that were heavily traded were SKPETRO -7.69%, CIMB -1.33%,
TENAGA -0.23%, THHEAVY -12.94%. Market
breath was negative with losers thumping gainers by 990 : 73. Futures closed
1689.5 (12pts discount).
2) Heavyweights : SKPETRO -7.69% RM3.24, AXIATA -1.81%
RM6.48, CIMB -1.33% RM7.38, SIME -1.48% RM9.30, PETGAS -1.99% RM26.60, MISC
-4.21% RM 4.55, PBBANK -0.58% RM16.88, UMW -3.25% RM12.50
3) DBT : COMPUGT 100mil @ RM0.05 (4.685 % PUC @ 24%
discount), CME 13.48mil @ RM0.005 (3.056% PUC @ 92% discount), MICROLN 12.5mil
@ RM0.55 (9.067% PUC @ 5.2% discount).
4) Situational:-
SENDAI -7.69% RM1.44 - Sendai wholly-owned subsidiary,
Eversendai Technics RMC FZE, marked its maiden foray into the oil and gas
sector (O&G) via a RM24.7m contract secured from Petronas Carigali Iraq
Holding B.V. The integrated structural steel turnkey and power plant contractor
won the contract for the supply and delivery of Fuel Gas Conditioning Unit and
associated equipment at the 15 megawatt power plant for Garraf Development
Facility Operation.
5) UOA Dev
1H June 2013 Tover
+96% RM677.5m Net +35.5% RM197.7m EPS 15.5sen
19% above cons(f) RM332m
The higher turnover is attributable to sales amounting to
RM1.34 billion for the first half of 2013 with strong sales contribution by the
disposal of the Group's inventories at The Horizon, Bangsar South, Binjai 8 and
Kepong Business Park during the quarter under review also contributed to the
increase in revenue and profits and recently launched projects - Desa Green in
Taman Desa and Scenaria in North Kiara Hills.
The total unbilled sales as at 30 June 2013 stood at
approximately RM1.2 billion It maintains a strong balance sheet position with
an increase in cash and cash equivalent to RM809.0 million as at 30 June 2013
which allows for potential future land acquisition and development.
UOA expects to launch more development projects including
The Vertical Office Suites, Phase 2 and South View Serviced Apartments in
Bangsar South in the second half of 2013. Construction works for its recently
acquired 28 acre land near Jalan Ipoh with a preliminary estimated gross
development value (GDV) of RM3.0 billion are also expected to commence in 2014.
Price back down to attractive levels with a gross yield
of 6%. Accum on weakness
6) Market - The sharp sell down today particularly in
select mid and small caps have presented an opportunity for high risk trading
funds to take a punt on an expected rebound.
Stocks that we favour for a bounce incl CMSB, OSK, Tropicana, Muhibbah,
SunReit, MISC